Shorts sales require real estate agents and brokers to act fast and efficient.
That was the theme at HousingWire's Real Estate Expo (REX Annual) on Tuesday during a session titled "Short Sales: Converting Leads to Listings and Other Key Strategies."
Panelists included Bubba Mills, managing partner and chief operating officer at Corcoran Consulting & Coaching; Andrew Lee, broker with Affiniti Real Estate; Kyle Whissel, broker and owner of Whissel Realty; Char MacCallum, with Char MacCallum Real Estate; and Charlie Lee, executive vice president of short sales at Auction.com.
One area the panelists emphasized was the face behind the sale and building a relationship with the sellers.
"When you are doing a short sale for people, you are a lifesaver for them," Whissel explained.
"Some of my best referrals have been from those short-sale sellers. Stay in touch with them, because they [could be] buyers again a few years down the road."
By performing a short sale, firms are helping people get out of a really stressful situation, MacCallum added.
"It is not about the sale; it is about serving that family," Mills pointed out.
As a result, agencies are building a larger relationship than just that singular seller.
"It is free advertisement. You cannot pay for a referral. A servant’s heart helps you in the community. It is like free branding," Mills said.