Tag: orlando short sale realtors

Orlando Realtor’s income up by 25%

Posted on by Jenny Zamora

Recent studies by the National Association of Realtors show signs of promise for today’s real estate professionals. For the second year in a row, business activity rose for real estate agents since 2011. The gross median income for an Orlando realtor in 2011 was $34,900.00 and in 2012 it shows that realtors made an average of $43,500.00. The numbers aren’t in for 2013 yet but you can bet that the average Orlando realtor’s income is even more than it was in 2012. This is great for the industry because more agents will be able to continue working as agents instead of having to find another job because of market conditions, as was the case in 2007-2008 when soo many agents just weren’t making enough money to survive.

Real estate agents that have been at it for a while of course make considerably more. Agents that have been in the business for more than 8 years showed an average income of $58,300.00 for 2012. It’s like anything else in life, the more work you put into it, the more reward you will get from it. On the opposite end of the scale are newbie realtors [2 years or less] who only averaged $$9,700.00. For these agents, they are facing an uphill battle and more than half of these newer agents will get frustrated and eventually seek employment elsewhere.

Realtors Working twice as Hard for the Same Money

Studies also show that a realtor back in the most recent peak of the Orlando real estate market in 2006 was making twice the amount of money for the same amount of work. Now the tables have turned. A realtor these days has to work double-time in order to make the same income they were making 7 years ago. With all the new laws and regulations in place, realtors have to really know what they’re doing. Not too many transactions are easy to get closed, there seems to always be an obstacle or two or three, especially when you’re trying to close on a short sale. Real estate transactions these days require skill, competence as well as patience to get them closed.

 

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Quality’s to look for in a top Orlando Short Sale Realtor

Posted on by Jenny Zamora

In order to be a successful short sale Realtor in Orlando these days, you have to possess all the tools that make buying and selling real estate for people as easy and efficient as possible. This means having systems set up for everything from lead generation to client follow-up to closing and post-closing follow up.

However, even if a realtor has all these systems in place, nothing takes the place of the human qualities that someone must possess in order to be a highly successful real estate agent. I’ve compiled a list of the qualities that I think someone must have in order to be successful as a realtor.

Determination

Determination means that you are firm in what your purpose is and you won’t let anything get in your way until you accomplish the task at hand. A good short sale realtor needs to be a very determined person because let’s face it, doing a short sale from beginning to end is not an easy task. Things don’t always go as planned when you’re buying and selling real estate if someone is easily discouraged, then “real estate agent” shouldn’t be their profession.

Tenacity and persistence

Tenacity means never giving up. It’s the combination of tenacity and persistence that enables someone to do something and keep doing it until the end, even if it’s really hard. Tenacity is the quality displayed by someone who just won’t quit — who keeps trying until they reach their goal. In the world of Orlando real estate, tenacity and persistence are great qualities to have, especially if you are trying to do something challenging that can take a while to complete such as a short sale.

Whether it’s dealing with banks, negotiators, homeowner associations, title companies, etc. short sale realtors deal with tough and discouraging situations every day. Without tenacity and persistence, a realtor wouldn’t last very long, especially in the short sale arena.

 Patience

Patience is the level of endurance someone can handle mentally trying situations before becoming negative such as; persevering in the face of delay or provocation without acting on annoyance or anger. It also means someone that can remain steadfast despite being exposed to trying situations.

What this means as it applies to an Orlando short sale realtor is that they are able to put up with all the nonsense involved with doing short sales as a whole and still remain nice as well as professional. This may sound funny to some of you but it’s very true and patience should probably be at the top of the list. Working as an Orlando short sale expert since 2005, I’ve learned to be extremely patient. Imagine calling several banks a day to follow up with a short sale file and the negotiators tell you that you are missing paperwork that you know you’ve already sent in…Everyday!

The absolute worst thing you can do in this situation is to argue with the negotiator. The correct thing to do is remain nice and re-send the information. Then the next day wash, rinse and repeat until you have confirmation that they received it. Don’t get me wrong, there are times when arguing with the bank is exactly what you should do but this isn’t one of them.

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What if my lender won’t accept a short sale? – Orlando Realtors

Posted on by Jenny Zamora

Short Sales are not Guaranteed!

It’s important to be aware that your lender has absolutely no obligation to agree to a short sale.  Also, there are a handful of banks that will agree to a short sale if the homeowner is current however,  most banks won’t even consider it unless the homeowner is at least 30 days past due on their mortgage payment. Either way, it goes, you just won’t know whether or not your lender will accept a short sale until you try. You should also know that a short sale can take several months and even a year to complete depending on who the mortgage holder is and what type of loan it is.

In the event that your lender does not agree to a short sale, there are several other options available to you in the event that your lender doesn’t agree to a short sale.

Other options besides a short  sale

1- Loan Modification– This is when the lender adjusts the terms of your loan by either adjusting the principal balance of the note or by lowering the monthly payment to make it more affordable to the homeowner. Most of the time the terms of a loan modification aren’t worth agreeing to.

2- Deed-in-Lieu- This is the process by which the homeowner signs the property back over to the lender and this is also considered by many a voluntary foreclosure. Unfortunately, it also shows up on your credit as a foreclosure.

3-Bankruptcy-  There are two different types of bankruptcy; Chapter 7 and chapter 13. Since I am not an attorney I will just give you the basics. A chapter 7 bankruptcy is the liquidation of assets so that debtors can get paid a portion of what’s owed to them and a Chapter 13 is basically a reorganization of debts in which the debtor has a chance to work out an arrangement with his or her debt holders.

4- Let it go to Foreclosure- This is one option that I would never recommend to anyone. If you just let the property go to foreclosure, then you’re just giving up and when you give up, you give up all control of your situation. There’s a common belief that if you let your property go to foreclosure, all of your debt will be forgiven and that couldn’t be further from the truth. As a matter of fact,  the opposite will probably happen and the lender will slap you with a deficiency judgment between what you owe the lender and what the property sold for at the auction. 

If you or someone you know is behind on their mortgage, consult with a short sale expert and find out what the best option for you is.

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Do you need an attorney to complete an Orlando Short Sale?

Posted on by Jenny Zamora

Orlando short sale

Hello folks My name is John Conde with Orlando Realty Consultants and if you’re looking to hire an attorney… then you’re in the wrong place… We’re to talk about Orlando short sales and why you don’t need an attorney to complete a short sale.

John Conde: “first question please…yes,  the young lady with the dread locks”

Question from audience:  “Don’t you need an attorney to do a short sale?
John Conde: “The short answer is … No you do not.”
Now, there are some cases where you would want to consult with an attorney if there’s title issues or if the property’s in probate court, if there’s a Bankruptcy involved,  etc.
Now with that being said, When it comes to attorneys doing Orlando short sales, the truth is that most people just don’t need them.

One of the biggest reasons people go to a short sale realtor instead of an attorney is the cost.
Attorneys can charge you thousands of dollars to do your short sale, where an agent does it for free. The agent only gets paid if the short sale closes, and they get paid by the lender, it doesn’t cost the homeowner a dime….not only that, but most of the time we get you cash back a closing. We’ve gotten our clients anywhere from $3,00 to $30,000.00 back at closing… How’s that for incentive?
John Conde: “Next question?…..Yes sir with the top hat”

Question from audience:  “How does a realtor get paid from a short sale”?
John Conde: “Great question, as opposed to a lawyer that you have to pay upfront,… a real estate agent does not get paid unless the deal closes.
A  good short sale realtor is going to do everything in their power to make the deal happen. Or they don’t get paid… It’s that simple.
I would much rather see a homeowner keep that money to pay bills or put it into their savings instead of turning it over to an attorney.  Watching people throw down thousands of dollars for help they can get elsewhere for free is just sad.
It’s like seeing people suffer from the housing meltdown not once, but twice”.
There are currently thousands of Orlando homeowners that are looking for help with their situation. And I’m not Gonna stand here and sugar coat things…. The process isn’t just hard, It’s scary. We’re talking about potentially getting kicked out of your home. This is why it’s crucial that you get help from a proven Orlando Short sale Expert.
We understand this which is why we are devoted to helping people that are facing foreclosure and financial hardship to find solutions to their real estate needs.
If you or someone you know needs help with a short sale…, visit our website or just give us a call for a Free consultation. our information is at the bottom of your screen. thanks for watching.

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Ask your Orlando realtor questions about your short sale

Posted on by Jenny Zamora

Don’t be afraid to ask your Orlando realtor questions about your short sale

  So you’ve decided to pursue a short sale on your home either because it owes more than what it’s worth and and just want to get out from under it or because you’ve fallen behind on your mortgage payments. You’re next step should be to find a experienced short sale realtor with a proven track record. How do you do this? Well like everything else these days… you Google it!  For example, if you need to find a good short sale realtor in Orlando, you should type in terms like “Orlando short sale realtor”, “Orlando short sale specialist”, “Orlando short sale expert”, etc…. you get the picture.  Once you hit the search button your computer screen will pull up the top results for the best short sale realtors in the city of Orlando. I would suggest that you choose from 1st page results and forget about going to page 2.

Now that you have a list of the top Orlando short sale realtors, start calling and emailing them. This is a great test to see which realtors will get back to you right away and which ones will call you 3 days later or maybe even not at all. Quick tip; If a realtor takes more than 24 hrs to get back to you, stay away! Imagine how frustrating it would be for you if this person had control of your short sale and every time you tried contacting them with an important question you had to wait days for a response.   By using this tactic of contacting every realtor on the first page, you will eliminate at least half the Orlando realtors that are showing up, which never ceases to amazes me. I can’t tell how many times sellers have called me and told me that they’ve called another realtor before me and they never got a response.

Now you should have a hand full of realtors that you were able to get a hold of immediately or at least in a short amount of time. I suggest that you now have a long conversation with them over the phone. You can tell a lot about someone by just talking to them for a while. While you’re talking with them be sure to make notes about that individual such as; “seemed friendly and knowledgeable” , “answered all my questions” , “was very impatient”, “felt like I was being rushed”, “not experienced enough”, etc. Remember, you’re looking for someone that’s not only going to be looking out for  your best interest, but this person will be [or should be] in constant contact with you and it needs to be someone that you feel comfortable  with.

The Final step in Hiring an Orlando short sale realtor

OK, now hopefully you should have at least 2 realtors that you’re thinking about listing your house with. The final step in choosing the best realtor for you is to make an appointment for them too come and see you at your home. Ask them to bring testimonials from past clients as well as anything else that they can use to prove their track record to you. You should also ask them to have a plan of action laid out for your home if they were to get the listing.   Remember, when they come over to meet with you, you’re the one in control. They are their to try and get you to hire them, not the other way around. After meeting with the 2 or 3 realtors that you’ve set appointments with, you will undoubtedly have made a decision on the realtor that best meets your needs.

Follow up with your realtor as well as your lender

Now that you’ve  found an Orlando short sale realtor that you’re happy with, make sure to follow up. A good short sale agent should provide you with weekly status reports n the status of your short sale. Another way to make sure your file is being handled properly is to follow up with your lender and find out what’s happening with your file as well as when was the last time your realtor mad contact with them. You shouldn’t feel bad about doing this and your realtor shouldn’t feel offended because you’re checking up on them. This is probably one of the most important things happening in your life right now and you have a right to know exactly what’s going on.

 

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