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!

Often short sales fail because someone loses hope and just gives up.  It may be the buyer's agent, the seller, the buyer or listing agent. They just run out of steam and walk away.  The key is never give up. Never Quit, Fight to the end.   A short sale is never a sprint but a Marathon and like all marathons at some point you will hit the wall and want to give up. But, if you push through, work a little harder, try again, re focus and fight you will always reach the finish line.  JUST KEEP SWIMMING!!

The Mike Realtor Team is proud to announce that 2009 we closed 56 homes, 22 of them short sales. With our 90% Short Sale success rate, the Mike Sher Team makes sure that each short sale makes it to the closing table. If you are looking to sell your home or looking to buy a great home for a great price, the Mike Sher Team is here to help. Call us at (248) 644-4700 or check us out at www.mikerealtor.com Mike Sher

I was talking to a Birmingham Short Sale Seller who happened to be listed with another Realtor (no one is perfect :) ).  The Seller happened to have read my blog and was calling me for advice.  His/her agent, a well known and accomplished local Realtor, was not as proficient in Short Sale negotiations as the seller thought they would be.  The Seller became aware of this after signing a six month listing agreement.   The problem was the listing Realtor was barley communicating to the bank at all with an offer that was 2 months old and getting older.  The seller had picked up the slack and was calling the bank in hopes to get the Short Sale through.    

In theory the Seller calling the bank is a good idea, especially if the listing agent is with out a team and lacks the people power needed to get a short sale through.

I have a team of people who in conjunction with my efforts are all calling the bank.  But the difference between The Mike Realtor Team calling the bank instead of the Seller is:

1.      We log our calls, I know exactly: what the last team member did;

a.       What number they called?

b.      Who they called, name, extension, ID#, Dept...

c.       What was said, so we can quote them later...

d.      When was it said, date, time?

e.       What does the time line look like?

f.        What is the next action for this file?

g.       Do we have a negotiator?

h.       What is his/her name?

i.         How can I reach them?

j.        Has a BPO been completed?

2.      If the seller talks to the bank, they could be pressured into a commitment that they would like to avoid.

a.       Since we our not principals of the Short Sale, we are able to avoid;

           i.       The banks efforts to pressure or threaten the seller.

           ii.      Give the Seller the opportunity of time to consider all of the bank requests.

3.      The Mike Realtor Team does this for a living;

a.       We never get angry.

b.      We never get frustrated.

c.       We know the right questions to ask.

d.      We know when we are getting the run around.

e.       We keep our Eye on the Ball and focus on the closing!!

f.        And we are aware of all aspects of the Real Estate Transaction.

In short, whose job is it to call the banks, the party best suited for success.  This may be the Realtor, the Seller, or an Attorney.    BUT, before you sign the listing ticket, make sure you know what to expect, what will be expected and who will be calling the bank?

 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.

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.

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.

Friday, March 27, 2009

Dear  Short Sale seller,

During these economic times, "the Mike Realtor Team" from Real Estate One is the team you want on your side.  They persevered in a very dry housing market, found a buyer, and negotiated brilliantly with the bank to sell my Ferndale house in a short sale.  I highly recommend you to use the persistent, thorough, and attentive realtor team in the real estate wars and more importantly to sale your home.

Sincerely,

 David and Kellie  

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.

As some of you have experienced, there is nothing more frustrating then getting a Short Sale approved and then the buyer walks after inspection because of a nit picky reason.  The steam rises from your ears after you wasted 45 days of pushing paper, faxing, begging, updating HUD's and thousands minutes on hold to get the deal of the century approved for an ungrateful buyer.

 Tip #1, add this clause to all of your Short Sale PA's

 ***If Buyer conducts a private property inspection, it needs to be done with in 7 days of seller acceptance (not Short Sale approval). It is understood that the sale is "AS IS", with no repairs or price changes. Buyer's sole recourse is to call the sale null and void if there is dissatisfaction with the property inspection.****

 More tips to come

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.