Five Keys To Representing The Reo/Short Sale Buyer

(www.learninglibrary.com)

This program will provide the REALTOR® the “Five Keys” to effectively represent the buyer who is seeking to buy an REO property or a pre-foreclosure or short sale property. This program will present the unique aspects of this tumultuous market that provides both advantages and disadvantages to the buyer. The agent will know how to apply the five key result areas to assisting this buyer in achieving success in acquiring the property they desire. The REALTOR® will be especially empowered to assist their buyer in making their offer very attractive to the lender creating the greatest probability of acceptance and/or approval of the offer.

This program will first review eighteen key facts about the market being dominated by REO property sales, pre-foreclosure sales, and short sales and the challenges that these conditions present to the REALTOR® and his/her buyer client.

The program then will briefly review some basics about fiduciary representation with the agent understanding the obligations they have to their client.

The program will then concentrate on the five key phases of representing the buyer in these conditions by addressing: (1) Advising the buyer of the risks that are inherent these types of transactions; We will cover the seven most prominent risks in this area. (2) Advise the buyer to minimize these risks by imploring thirteen key steps including performing an enhanced buyer’s broker price opinion to accompany the offer; (3) Six additional tips to assist in making the buyer’s offer more attractive to the lender; (4) Having the buyer and you commit to the “3 C’s” of buying an REO property; and finally (5) Developing a clear understanding of how the agent and buyer should work together to accomplish the objectives.
The program will also discuss how the agent can prepare the buyer to negotiate.