Selling Agent Expectations

Short sales are more complex than traditional real estate transactions. It requires the participation and patience of all parties to make the transaction a success. This is made possible by maintaining open communication lines from the beginning of the process to the end. SSAA listing agents are certified and trained to assist selling agents in managing their buyers’ expectations. When expectations are managed up front, short sale transactions can go more smoothly as each party works together to make the deal a success.

Formulating a Short Sale Offer
One of the easiest ways for a listing agent to expedite the short sale process is to receive a clean, accurate, and complete offer from the homebuyer. The ideal short sale offer should include the following things:

SSAA Offer Evaluation Form

One of the main causes of failure is the listing agent’s failure to properly pre-qualify the seller and the property, as well as the buyer’s offer. SSAA Professionals use a grading system that helps them send only the most qualified purchase contracts to the Servicer, thereby increasing the likelihood that their short sales will get approved.

The grading system uses A, B, and C grades for each criterion used for assessment. For example, the first section grades the new contract using the letter grades A, B, or C for the amount of the contract offer compared to the fair market value (FMV). If the offer is 90% of the FMV or greater, they would score this section as “A.” For 80-90 percent of the FMV, they would grade it as a B, and so forth. SSAA recommends that they do not accept contracts that receive a C-grade or lower.

This unique grading system helps ensure that the property is listed properly and that all offers have a legitimate chance of being accepted by the seller’s bank.