BrokerageIndustry News

Short-sale queries that stump agents

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How well are you representing your clients? Today's column has nine questions that at least one investor has found cannot be answered by 95 percent of the agents in his market. Are you part of the 5 percent who can answer these? I recently interviewed Barry Cunningham who has a successful investment business purchasing and selling short sales. Cunningham is not a licensee and typically uses an agent in his transactions. What he has experienced is nothing less than shocking. Here are the questions that most of the agents in Cunningham's market are unable to answer: 1. Is the property still available? There are four answers to this question. The property could be actively listed, sold, pended or expired. When Cunningham asks this question, many of the agents can't give him a simple answer. If the agent doesn't say that the property has sold, Cunningham responds by saying, "So we still have time to put in an offer." At this point, many agents start hemming and haw...