Tag: foreclosure assistance

Orlando Real Estate Agents are on the Move to in order to improve their earnings.

Posted on by Jenny Zamora

 Finding the best brokerage to work for proves challenging for Orlando Realtors

 

Top Orlando agents are always looking to maximize their earnings and sometimes this can mean switching to a another brokerage for a higher percentage split or a more desirable area. I went through the same thing myself when I first started my career as an Orlando realtor in 2004, working for several different brokerages until ultimately becoming abroker myself and starting my own company.

Orlando Real estate is an industry where it is common to see agents moving from brokerage to brokerage until they find the perfect situation for them to settle into, [which sometimes is never].  Most new Orlando realtors will usually stick with a brokerage for a while to see where it goes and if they’re not happy for whatever reason, it usually doesn’t take long for them to find another broker to hang their license with. Sometimes this will continue on for several years with some agents.
Just about every Orlando real estate agent will agree that the market has left its darkest days behind. So they want to be in the best position to enjoy the climb back up.  I can’t say that I blame them.
I believe that will we continue to see more and more agent movement as the Orlando real estate market works to fully turn the corner on the housing collapse of 2007.

Top Brokers seeking out top agents

Top Orlando Brokerages are always on the lookout for their area’s top agents so that they also can increase their earnings and make better commissions. The best realtors will always end up at a top brokerage sooner or later because they are mutually beneficial to each other which is why they are constantly seeking each other out.

Here at Orlando Realty Consultants we are no different. It has taken us several years to assemble the team of Orlando Real Estate experts that make us who we are today and we are always looking for Top Orlando agents to join forces with.

 

 

Jenny Zamora, Lic RE Broker

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A typical work day for an Orlando Short Sale Specialist

Posted on by Jenny Zamora

It’s all in a day’s work for an Orlando Short Sale Realtor

Being a successful Orlando short sale realtor involves many things. For one thing, working with a short sale listing is a lot more work than a traditional listing. Listing the property is just the tip of the ice burg. There’s a mountain of paperwork involved that needs to be updated every 30 days, so I guess the correct term would be “mountains” of paperwork because short sales can take several months to complete and sometimes even up to a year, depending on the lender.

Daily checklist for a Top Orlando Short Sale Agent

1- Check emails- These days most realtors and most negotiators prefer to communicate by email and when you are handling upwards of 100 short sale files, this means hundreds of emails to read. [Daily] 2- Follow up with the short sale lenders over the phone- This is a very tedious task and can take several hours of your day, but it is a necessary evil when it comes to processing short sales. It’s not uncommon to spend up to 45 minutes on one file just trying to get the right person on the other end of the phone to see how the file is moving along. 3- Check on approaching foreclosure sale dates with the Orange County Courthouse- It’s always good to ask the short sale rep about pending auction dates. However, a lot of times there is a communication breakdown between the lenders, lawyers and the courthouse and unfortunately, that’s just the way it is. This is why at Orlando Realty Consultants we have someone that is in charge of calling the Orange and Osceola county court houses and finding out what the latest information is on each and every case. Many times we inform the lenders of an approaching sale date before they even know about it. 4- Creating accurate CMA’s- With the ever changing Orlando Real Estate market, it’s extremely important to make sure that the properties are priced correctly in order to ensure success with a short sale. Pricing the property too high or too low will only drag things out and can sometimes push the bank to just flat out refuse entertaining a short sale. 5- Scheduling the BPO’s- The BPO [Brokers Price Opinion] is a very important part of the short sale process. The BPO is almost always performed by a local realtor. Whatever the BPO comes in at is the point of negotiation between us and the lender. 6- Negotiating with HOA dues and other 2nd lien holders– It used to be easy to get an Home Owners Association to accept a massive discount on what’s owed on a client’s delinquent dues. Not any more! HOA’s are now notorious for being difficult to negotiate with. We’ve had countless cases where closings have been delayed because of waiting on the HOA’s to send us a simple payoff letter, Even for a full payoff. 7- Coordinating Closings- Having a great title company helps a lot. However there are still many things that fall on the short sale realtor such as scheduling inspections and making sure that everything runs smoothly with all parties involved on both the buyer’s and seller’s side. 8- Update our Short Sale Clients- To us, this is one of the most important things on the to do list. Here at Orlando Realty Consultants, we understand that our short sale clients are going through a tremendous amount of financial and emotional stress because of their situation. This is why we keep our clients informed about everything every step of the way. The more you know about something then the less you will fear it or stress out about it, that’s just human nature. Our clients depend on us to help them through one of the most important processes of their lives and this is something that we take very serious. Well, there you have it folks, a peak into the day of an Orlando Short Sale Expert.   If you need help with an Orlando Short Sale or just some free advice from an Orlando Real Estate Expert, contact us, we’re here to help. Jenny Zamora, Lic RE Broker
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Certified Distressed Property Experts and Orlando Real Estate

Posted on by Jenny Zamora

What is a Certified Distressed Property Expert [CDPE]?

It means that an Orlando Realtor with the CDPE designation is someone that is supposed to understand the complex and ever-changing issues in today’s Orlando Real Estate market. The agent should have knowledge of foreclosure avoidance options available to homeowners. A CDPE can provide solutions, specifically short sales, for homeowners facing market hardships.

Many times Orlando homeowners make the mistake of trying to do things on their own when they’ve fallen into foreclosure. This is always a bad idea because when someone is in financial distress, they’re just not thinking clearly, especially with the emotional burden of potentially losing their Orlando home to foreclosure.

Speaking with a realtor that is CDPE certified, also known as an “Orlando Short Sale Expert” is by far the best course of action to take. First of all, it doesn’t cost you a cent to consult with an Orlando realtor [if a realtor ever tries to charge you for a consultation, turn around and walk away], so you have absolutely nothing to lose in this regard. CDPEs have the tools, knowledge, and experience to help homeowners figure out the best solutions for their specific solution through the execution of an Orlando short sale or loan modification.

Are you considering an Orlando Short Sale?

If you’re currently looking for an Orlando Short sale Expert, make sure to select an agent that possesses the CDPE designation to make sure that you have a trained professional to address your specific needs.  CDPEs have an obligation to go above and beyond for their clients in need and you shouldn’t settle for anything less.

It’s not just about the CDPE Designation…

With all of that being said about CDPEs, it’s important to also consider the amount of experience the Orlando agent has had as a CDPE and what is their success rate with short sales in Orlando. This is something that is easily researched online or even better… ask your potential agent to show you proof of how many short sales listings they have and also ask them how many short sales they’ve closed in the past 6 months.

Another great option that may save you some time is just Google Orlando Short Sales and see what comes up. The top three results that come up should give you a great starting point. Like most people in the world today, I use Google for just about everything.

You want an agent that’s aggressive and doesn’t take no for an answer. Working with short sales is tough and you need an agent that is willing to go toe to toe with the bank for you. Unfortunately, this kind of tenacity and work ethic is something that is difficult to teach, realtors either have or don’t have.

Ask me anything, I’m here to help.

Jenny Zamora, Lic RE Broker.  Certified Distressed Property Expert

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New rules set to improve turn around time for Orlando Short Sales

Posted on by Jenny Zamora

 Orlando Short Sale Process should be much faster with new rules in place

With the new rules regarding short sales taking effect this month, federal regulators are hoping to streamline the entire Orlando short sale process from beginning to end for residential properties.

The new regulations which will regulate both Fannie Mae and Freddie Mac,  forces the agencies to give short sale buyers a yes or no answer within a 60 day time period. The rule is supposed to go into effect on the 15th of this month.

The rules also force the agencies to respond to initial requests for short sales within 30 days of receiving a buyer’s offer. For Orlando realtors, this is great news! No longer will they be able to take their own sweet time to respond, which sometimes meant waiting  a couple of months to see if they even considered the offer. And most of the time the buyer would get frustrated and walk away from the potential deal.

What is an Orlando short sale?

For those of you who don’t know, a short sale is when a lender agrees to accept a contract price for less than what is owed on the mortgage.  Orlando Real Estate values have dropped an average of 35 to 45 percent since 2007 leaving many homeowners with more debt than their home is worth.

Orlando short sales are very popular right now. It’s the perfect solution for the sellers, the buyers, Orlando realtors and the lenders. Lenders get to recoup some of their money back, Sellers are able to get rid of an enormous debt and avoid Orlando foreclosure, Buyers get a great deal on an Orlando property, and it gives realtors an opportunity to earn their money. Any Orlando short sale realtor can tell you that negotiating a short sale is no walk in the park

I believe that with the new short sale rules in place will benefit the entire Florida housing market.

Lenders prefer short sales because they are much more efficient than foreclosures. Although many homeowners have become casualties of lengthy and unpredictable time frames that it takes to process a Florida short sale.

We’ve closed thousands of Orlando short sales over the years and I can tell you from experience that unless you’ve worked with certain lenders before, there’s no way of knowing how it’s all going to play out. We’ve worked some that have taken 60 days from start to finish and some that have taken two and a half years to complete.

 

Ask me anything,   I’m here to help

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Choosing the Right Orlando Short Sale Realtor, A Crucial Decision

Posted on by Jenny Zamora

Choosing the Right Orlando Short Sale Agent is Serious Business

 

As short sale agents, we go through all the same emotions as the seller we are representing. Working with these lenders can definitely provoke some strong emotions such as anger and frustration at times. Battling it out with short sale negotiators is an everyday occurrance in our office. Whether we’re trying to get an offer approved on a particular property, or negotiate a “Cash for Keys” incentive for one of our clients, there is always some kind of negotiation involved, so you need to make sure that your Orlando Realtor is experienced on the battle field of  short sale negotiations.

One of the Most Important Decisions you’ll ever have to make

When you hire an Orlando Real Estate Agent to take on your short sale file, It’s just like hiring an attorney to represent you in some legal matter. [Except Realtors don’t charge you] The realtor you choose is going to be dealing with your lender on your behalf  which is a huge responsibility. To begin with they have to put together your entire file correctly to then move to the next steps of sending in offers, counter offers, scheduling inspections, arranging showings and the most important task of all, creating rapport and dealing with the short sale negotiator.  Sure, cash incentive programs are out there, but if you’re agent is unaware of what programs you may qualify for, than you could end up getting the short end of the stick.

 

Research your Potential Orlando Agent Before signing

Would hire an attorney if you knew that he or she had just passed the Bar exam and you were their first client. Of course you wouldn’t….Short selling a home is serious business. Fact, selling a house is one of the most important decisions a person will have to make in their life, so it’s very important that you hire an Orlando realtor that specializes in short sales. There are some key questions that you should always ask when interviewing a realtor  before you trust them with one of the most important negotiations of your life.

Still have a million questions about Orlando Short Sales?

Ask me Anything, I’m here to help…

 

 

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