Short Sale Realtors: Bloomfield / Birmingham / Novi / Troy / Rochester / Beverly Hills / West Bloomfield / Franklin / Royal Oak / Huntington Woods / Oakland County / Detroit Metro Area The Mike Realtor Team! : April 2009

Recently I heard another agent yelling on the phone with a loss mitigation rep for a short sale. She was screaming “you better take this offer or your bank will go under and you’ll be out of a job”. Well in a few weeks, the home was foreclosed on and the agent was out of a sale.

It is not their fault that the mortgage terms were unfair, or that borrower can not pay the loan anymore, they are just hired to make the best of the bad hand that was dealt. They do like being yelled at, criticized, or bad mouthed for things out of their control. They, like us represent a client, “the investor” and they have plenty of job security, so if your short sale is rejected because you treated them like a bat boy in a farm league, they’ll still have a job. But, you might not!!

Let’s get back to basics, a broker once told me “treat everyone as if they had $5,000 to give to anyone who treated them nicely.” We give our clients our best face, so lets share that with the banks. I try to find out where my loss mitt rep is from and make some small talk. Find a common bond and smile. Yes, I smile, and though the poor, underpaid, mistreated, often verbally abused bank employee on the other end might not see it, but they feel it.

So, I would bet you that if you were just nice to them, you would be closing more, quicker and you might just start having fun again.

Need more information, call me !

 Mike Sher,

Office: (248) 644-4700x242 Fax :(248) 499-1020 Bloomfield Hills, MI 48302 E-mail: mike@mikerealtor.com

CDPE (Certified Distress Property Expert)

MCAR, Short Sale Trainer

Max Brook and Real Estate One Short Sale Specialist.

 The Mike Realtor Team Blog - Metro Detroit/Oakland County

Servicing in Southeast Oakland County, Auburn Hills, Birmingham, Bloomfield, Berkley, Beverly Hills, Canton, Clawson, Farmington Hills, Ferndale, Huntington Woods, Northville, Novi, Pleasant Ridge, Plymouth, Royal Oak, Rochester Hills, West Bloomfield, Troy, etc. We worked with: Bank of America, Country Wide, HSBC, EverHome, Litton, GMAC, Chase, Wells Fargo, Flagstar, Fifth Third, Charter One, Comerica, Am Trust, US Bank, National City

One of the best purchases I have made in 2009 was a PDF editor. I use Nuance® PDF Converter Professional 5. It has been “the cats meow!!” I am able to take PDFs from the bank, add my client’s information, put in signature tags or highlight relevant passages and forward them by email to my clients. Plus I able to add my electronic signature to save from printing out the document, signing and rescanning it.

The best has been with my Hardship Packages. This has been a real time saver. I am able to attach the PA, all the documents for the short sale. Plus comps and statistics into one PDF. I can also add a header to each page with my contact info, the borrowers name, loan number and page number. If you have Efax or an equivalent product the world becomes even brighter. With my faxes coming in and going out from my PC, I can save paper and able to edit faxes (i.e. take out the unnecessary documents from a fax and just send out what is pertinent). I can do all of this with out printing a page.

All of these tools cut at least one to two weeks off my short sale approvals and hours off of the time for me to rescan documents.

Check it out, you’ll thank me.

Need more information, call me !

 Mike Sher,

Office: (248) 644-4700x242 Fax :(248) 499-1020 Bloomfield Hills, MI 48302 E-mail: mike@mikerealtor.com

CDPE (Certified Distress Property Expert)

MCAR, Short Sale Trainer

Max Brook and Real Estate One Short Sale Specialist.

 The Mike Realtor Team Blog - Metro Detroit/Oakland County

Servicing in Southeast Oakland County, Auburn Hills, Birmingham, Bloomfield, Berkley, Beverly Hills, Canton, Clawson, Farmington Hills, Ferndale, Huntington Woods, Northville, Novi, Pleasant Ridge, Plymouth, Royal Oak, Rochester Hills, West Bloomfield, Troy, etc. We worked with: Bank of America, Country Wide, HSBC, EverHome, Litton, GMAC, Chase, Wells Fargo, Flagstar, Fifth Third, Charter One, Comerica, Am Trust, US Bank, National City

But, We Can Help!

This is a competitive real estate market.  If you have to sell and can not, perhaps it is time to look at a Short Sale.  The Mike Realtor Team has performed dozens of Short Sales for professionals who have lost their job, income has declined, medical problems, relocation, retirement, divorce, loss of spouse, unable to make ends meet, or other reasons not listed.

Time For The Friday Roll Call!!!!

Let's get positive!! I am dedicating another post just to allow all of us the opportunity to read a positive story or two. I will start!!:

1. Went to a great class to become a CDPE (Certified Distress Property Expert)
2. Teaching a Short Sale seminar on the 29th of April at the Bloomfield Twp Library.
3. List two homes this week (one came from my active rain blog!!)
4. Putting together two hardship packages for offers that I got this week
5. Had a closing yesterday and have 3 next week.
6. It is supposed to be in the 80's this weekend and I am taking Saturday off!!
7. My family is healthy and happy.

*** Good luck is created by hard work, a good plan and a positive attitude! Mike Sher***

This was a good week

Mike Sher

I have taught hundreds of agents how I do short sales.  I have negotiated 40+ short pay offs for my clients and yet, I know a fraction that is out their. 

 I just got back from a CDPE (Certified Distress Property Expert) class.   It was awesome!!  I took away so much information, good ideas and perspective to last me a long time. 

 So, take a class in Short Sales soon.  If you have already taken one, take another.  I have gone to a dozen and I'm still hungry for more!!  Google short sale classes in your city or state.  Call your local board or ask your broker to find a class.  Go out side of your brokerage and talk to other realtors that are doing short sales.  Find out how they keep up with the information. 

 If you are a Michigan Realtor, I am teaching a class for Max Broock Realtors on April 29^th 9am-12:00 Noon at the Bloomfield Twp Library.

 "To be smart, you need to stay smart", Mike Sher

My wife, who is in medicine, needs 150 hours of continuing education credits.  Plus she attends tons of pharmacology lectures to learn about new medicines and those have no credits.  My father, a CPA, also is required to keep up to date with tax codes. So should my attorney, stock broker and so on.

 We, realtors, need to keep up to date as well.  Find a class today.

Need more information, call me !

 Mike Sher,

Office: (248) 644-4700x242 Fax :(248) 499-1020 Bloomfield Hills, MI 48302 E-mail: mike@mikerealtor.com

CDPE (Certified Distress Property Expert)

MCAR, Short Sale Trainer

Max Brook and Real Estate One Short Sale Specialist.

 The Mike Realtor Team Blog - Metro Detroit/Oakland County

Servicing in Southeast Oakland County, Auburn Hills, Birmingham, Bloomfield, Berkley, Beverly Hills, Canton, Clawson, Farmington Hills, Ferndale, Huntington Woods, Northville, Novi, Pleasant Ridge, Plymouth, Royal Oak, Rochester Hills, West Bloomfield, Troy, etc. We worked with: Bank of America, Country Wide, HSBC, EverHome, Litton, GMAC, Chase, Wells Fargo, Flagstar, Fifth Third, Charter One, Comerica, Am Trust, US Bank, National City

But, We Can Help!

This is a competitive real estate market.  If you have to sell and can not, perhaps it is time to look at a Short Sale.  The Mike Realtor Team has performed dozens of Short Sales for professionals who have lost their job, income has declined, medical problems, relocation, retirement, divorce, loss of spouse, unable to make ends meet, or other reasons not listed.

Time For A Roll Call!!!!

Let's get positive!! I am dedicating another post just to allow all of us the opportunity to read a positive story or two. I will start!!:

1. I am having an inspection today.
2. Teaching a Short Sale seminar on the 29th
3. Wrote an offer last night.
4. Got 3 offers on a short sale listing.
5. Getting more Short Sale referrals then ever.
6. Having my youngest daughter's 3^rd birthday party, Dora theme of course.
7. The Real Estate Business is getting busy and spring is in air
8. I love my job, wife and my life!!

*** Is your cup half full or half empty? The only one who can answer that questions is you!!***

This was a good week

Mike Sher

Let's get positive!! We read, see and hear such negative stories during the week which chips at our morale and is just depressing. That is why I am dedicating another post just to allow all of us the opportunity to read a positive story or two. I will start!!:

1. Sold 2 houses this week
2. Have 7 pending sales on the books
3. Took on 2 new short clients.
4. I calculate that my volume for last year at this time is the same as this year.
5. Picked up 2 new buyers
6. I am having a nice holiday week with friends and family
7. My wife and kids are healthy and happy

*** The unemployment rate can rise, foreclosures could be up, but nothing is more important then family, friends and giving it your all every day!!***

This was a good week

Mike Sher

As you know by now, the bank logs every call, fax and email pertaining to a Short Sale.  Every time you call them they log your name, number, time, date and all of the details of the call.  If we want to compete, we have to do the same. 

When I or someone from my team calls the bank, I make sure we get all of the details of who we spoke to, the day, time, content of the call.  So when we speak to another person later in that week, we can reference the past call.  Sometimes, documents, a BPO or other important detail gets lost.  Because we have logged every call, we are able to go back to our notes and retrace or steps.

We can tell the bank when we faxed something, what fax number we sent it to, what fax number we sent it from, how many pages it was and at what time/day it was confirmed. We can do the same with  the emails we have sent, we can call the BPO agent who did the BPO to make sure it was sent if the bank can't find it and etc.

If you log your calls, you can shorten a approval by 30-90 days.  It just makes sense.

For and example of our log see: http://activerain.com/blogsview/547787/Option-One-Short-Sale-Log

Need more information, call me !

 Mike Sher,

(248) 548-9100 x127

CDPE (Certified Distress Property Expert)

MCAR, Short Sale Trainer

Max Brook and Real Estate One Short Sale Specialist.

 The Mike Realtor Team Blog - Metro Detroit/Oakland County

Servicing in Southeast Oakland County, Auburn Hills, Birmingham, Bloomfield, Berkley, Beverly Hills, Canton, Clawson, Farmington Hills, Ferndale, Huntington Woods, Northville, Novi, Pleasant Ridge, Plymouth, Royal Oak, Rochester Hills, West Bloomfield, Troy, etc. We worked with: Bank of America, Country Wide, HSBC, EverHome, Litton, GMAC, Chase, Wells Fargo, Flagstar, Fifth Third, Charter One, Comerica, Am Trust, US Bank, National City

But, We Can Help!

This is a competitive real estate market.  If you have to sell and can not, perhaps it is time to look at a Short Sale.  The Mike Realtor Team has performed dozens of Short Sales for professionals who have lost their job, income has declined, medical problems, relocation, retirement, divorce, loss of spouse, unable to make ends meet, or other reasons not listed.

Often Realtors end up relying on the one point of contact.  This often is the negotiator assigned to the file.  The agent calls, leaves a message and waits.  I believe in an all out communication assault to get my file to the top of the pile.  How:

 First remember the 3 methods of modern communication:

1. phone
2. fax
3. email

Know your cast of characters:

1. Negotiator
2. Loss mitigation representatives
3. Short Sale dept representatives
4. Negotiator's supervisor
5. Customer service
6. Local law firm handling the sheriff sale.

All of these people have information that is helpful to your cause and all of them can carry information to the right sources if needed.

a.       They can email your negotiator.

b.      They can move your file along.

c.       They can read you the notes on the file.

d.      They can tell you how much the BPO came in at.

e.       They can tell you if the BPO came in or if it was even ordered yet.

f.        They can tell you where the file is in the process.

g.       They can tell when the sheriff sale is.

h.       They can postpone the sheriff sale. 

Remember, "Idle hands, our the Devil's tools."  Keep the file moving and an unwatched Short Sale will be a dead Short Sale.

Talk to you tomorrow.

Need more information, call me !

 Mike Sher,

(248) 548-9100 x127

CDPE (Certified Distress Property Expert)

MCAR, Short Sale Trainer

Max Brook and Real Estate One Short Sale Specialist.

 The Mike Realtor Team Blog - Metro Detroit/Oakland County

Servicing in Southeast Oakland County, Auburn Hills, Birmingham, Bloomfield, Berkley, Beverly Hills, Canton, Clawson, Farmington Hills, Ferndale, Huntington Woods, Northville, Novi, Pleasant Ridge, Plymouth, Royal Oak, Rochester Hills, West Bloomfield, Troy, etc. We worked with: Bank of America, Country Wide, HSBC, EverHome, Litton, GMAC, Chase, Wells Fargo, Flagstar, Fifth Third, Charter One, Comerica, Am Trust, US Bank, National City

But, We Can Help!

This is a competitive real estate market.  If you have to sell and can not, perhaps it is time to look at a Short Sale.  The Mike Realtor Team has performed dozens of Short Sales for professionals who have lost their job, income has declined, medical problems, relocation, retirement, divorce, loss of spouse, unable to make ends meet, or other reasons not listed.