BrokerageIndustry News

Real estate’s new intermediaries

Future-Proof: Navigate Threats, Seize Opportunities at ICNY 2018 | Jan 22-26 at the Marriott Marquis, Times Square, New York

Editor's note:  This is the first in a two-part series that details companies that offer services, technology or training to expedite sales of distressed properties. Some companies charge fees that are passed along to consumers. Click here to read Part 2.By MATT CARTER and PAT CURRY With distressed properties accounting for a greater percentage of sales than ever -- more than half in some hard-hit markets -- agents and brokers who have never handled a short sale or bank-owned home may find themselves feeling left out if they don't jump on the bandwagon. But many real estate professionals who do specialize in short sales warn that it's a business of risks and rewards, requiring skill, connections and patience. As a result, some agents and brokers are turning to third-party companies that offer to assist in closing distressed-property transactions. Other brokerages have their own in-house departments that either take charge of negotiations, or staff that shepherd the paperwor...