Realtor PowerPoint Presentation

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Realtor PowerPoint Presentation

  1. 1. presented by: Property Investment Solutions
  2. 2. Part 1 <ul><li>Introduction to Short Sales </li></ul>
  3. 3. What is a Short Sale? <ul><li>“ A short sale occurs when the proceeds of a real estate sale fall short of the balance owed on the property ” [1] </li></ul>1 &quot;Short sale (of house)&quot; definition at Nolo.com.
  4. 4. Why do lenders consider short sales? <ul><li>Lenders are in business to loan money, not own real estate </li></ul><ul><li>If a lender forecloses, the value of the loan contributes to their insolvency </li></ul><ul><li>Foreclosures cost lenders time and money </li></ul><ul><li>The short sale offer is equal to or greater than what a lender can expect to gain by foreclosing and selling the property </li></ul><ul><li>Property has been left in an “unsellable condition” by the seller </li></ul>
  5. 5. Current Market <ul><li>How many agents have short sale listings? </li></ul><ul><li>How many agents have walked away from short sale listings? </li></ul><ul><li>How many agents have successfully negotiated and closed a short sale? </li></ul>
  6. 6. Did You Know… <ul><li>Average broker or agent closes 10% of the short sales they attempt. </li></ul><ul><li>Foreclosures are at an all time high. </li></ul><ul><li>50% of all Homes sold will be sold as a short sale. </li></ul><ul><li>If you are not working with short sales, you are missing at least 50% of the market. </li></ul>
  7. 7. Who We Are <ul><li>We are Professional Loss Mitigators. Negotiating Short Sales is what we do exclusively </li></ul><ul><li>Our Team has been negotiating short sales for over 6 years </li></ul><ul><li>Our Goal is to Create a WIN - WIN - WIN </li></ul><ul><ul><li>HomeOwner – will avoid foreclosure </li></ul></ul><ul><ul><li>Lender – will liquidate their non-performing asset </li></ul></ul><ul><ul><li>You – will get paid your full commission without negotiating the short sale and you’ll help this homeowner avoid foreclosure creating more referrals for you </li></ul></ul>
  8. 8. Why Do Short Sales? <ul><li>Properties will sell faster if priced properly </li></ul><ul><li>Seller avoids foreclosure on their credit </li></ul><ul><li>Establishes you as the Solution Provider </li></ul><ul><li>Seller will refer other clients to you </li></ul><ul><li>You provide value to your buyers </li></ul><ul><li>Generates income stream in slow market </li></ul><ul><li>Helps stimulate the economy </li></ul>
  9. 9. Your Options for Listing Overleveraged Houses <ul><li>Turn them down because they won’t sell </li></ul><ul><li>List the house at a price that is overpriced to cover all payoffs and closing costs </li></ul><ul><li>List them as short sales and do the short sale negotiations yourself wasting your time </li></ul><ul><li>Outsource Your Short Sale Negotiations to the Experts and create extra income without extra work </li></ul>
  10. 10. What you need to learn in order to negotiate Short Sales Successfully <ul><li>How to get your short sale assigned to a mitigator immediately </li></ul><ul><li>What a Bank mitigator Looks for in a short sale package and why they will put it on the bottom of his pile if he doesn’t like what he sees </li></ul><ul><li>How to negotiate with lenders depending on what type of loan your seller has </li></ul>
  11. 11. What you need to learn in order to negotiate Short Sales Successfully <ul><li>How to negotiate Fannie Mae, Freddie Mac, FHA, VA, USDA, and Conventional mortgages with Private Mortgage insurance </li></ul><ul><li>How to get junior lenders and IRS liens released from properties </li></ul><ul><li>How to get the deal done when a lender wants your seller to sign a promissory note or deficiency judgment </li></ul>
  12. 12. What you need to learn in order to negotiate Short Sales Successfully <ul><li>How to get the bank to approve every file by getting the BPO value on the property where they need to see it. </li></ul><ul><li>How to present the short sale package to the bank so they not only review it fast but approve it </li></ul><ul><li>How to structure the deal when the lender says that all junior lien holders can only get $1000-$2500 </li></ul><ul><li>If you don’t know this information, 90% of your deals will be declined and you will waste your time </li></ul>
  13. 13. What If We Could… <ul><li>GUARANTEE your commissions on short sale transactions (upon closing) </li></ul><ul><li>Give you back the time you would spend working on short sales </li></ul><ul><li>Solve your clients’ current foreclosure issues which could enable you to work with them in the future </li></ul><ul><li>Provide a Safety Net so your short sale doesn’t hit any landmines during the process </li></ul><ul><li>Eliminate the costly and time consuming learning curve of negotiating short sales like the pros. </li></ul>
  14. 14. Part 2 <ul><li>Actual Case Studies </li></ul>
  15. 15. Case Study #1 19218 Gulf Blvd #103 Indian Shores FL Lien Amount Payoff 1st Mortgage $ 1,015,885 -> $ 629,000 2nd Mortgage 99,995 -> 10,000 HOA Lien 17,750 -> 7,500 Contractors Liens 7,000 -> 1,500 IRS Liens 100,000 -> 0 Total 1,240,631 -> 648,000 Total Discount 592,631 Realtor Commission $ 54,000 Commission without us $ 0
  16. 16. Case Study #2 15534 Redington Drive  Redington Beach, Florida 33708 Lien Amount Payoff 1st Mortgage $ 565,074 -> $ 270,000 2nd Mortgage 176,731 -> 5,000 HOA Lien 741,805 -> 275,000 Contractors Liens 7,000 -> 1,500 Total Discount 466,805 Realtor Commission $ 23,375
  17. 17. The Seller 15534 Redington Drive  Redington Beach, Florida 33708
  18. 18. The Buyer 15534 Redington Drive  Redington Beach, Florida 33708
  19. 19. Case Study #2 501 46th Avenue North  St. Petersburg, Florida 33703 Lien Amount Payoff 1st Mortgage $ 171,214 -> $ 80,000 Total 171,214 -> 80,000 Total Discount 91,214 -> 275,000 Realtor Commission $ 6,120
  20. 20. Realtor “Gets her Life Back!”
  21. 21. Part 3 <ul><li>Team Up with Us! </li></ul>
  22. 22. How We Work Together <ul><li>You provide introduction to seller/client. </li></ul><ul><li>We discuss process with seller and take care of all paperwork. </li></ul><ul><li>We build the case for negotiation. </li></ul><ul><li>We submit the offer(s) to the lender(s). </li></ul><ul><li>We manage the brokers price opinion </li></ul><ul><li>We negotiate a settlement with the lender(s). </li></ul><ul><li>You continue to market the property and secure a buyer while we are negotiating. </li></ul><ul><li>We pay off lender(s) and close with buyer. </li></ul><ul><li>Title Company Sends you Your Commission. </li></ul>
  23. 23. Providing the Introduction to the Seller <ul><li>A cordial introduction to the seller is essential to our success for you </li></ul><ul><li>When speaking with the seller, keep your conversation general </li></ul><ul><li>Answer the questions that you feel comfortable answering but defer the rest to us (this gives us a reason to meet with the seller) </li></ul><ul><li>Highlight the fact that you have aligned yourself with a company that specializes in short sales </li></ul><ul><li>The initial conversation with the seller can take place on the phone or in person </li></ul>
  24. 24. We discuss the process and take care of all paperwork <ul><li>We will discuss the entire process with the seller </li></ul><ul><li>We will verify that we have addressed all of their questions and concerns </li></ul><ul><li>They can seek legal counsel or a CPA </li></ul><ul><li>We will collect all of the short sale paperwork from the sellers </li></ul>
  25. 25. We build the case for negotiation <ul><li>Comparables </li></ul><ul><li>Inspection Report </li></ul><ul><li>Inspection Estimate </li></ul><ul><li>Sellers Hardship </li></ul><ul><li>Sexual Predators </li></ul><ul><li>Local Articles </li></ul><ul><li>Days on Market </li></ul>
  26. 26. We submit the offer(s) to the lender(s) <ul><li>Starts the negotiation process with the lender </li></ul><ul><li>Based on estimated sale price as provided by the realtor </li></ul><ul><li>Offers incorporate repair estimate </li></ul>
  27. 27. We manage the brokers price opinion <ul><li>We will meet the BPO Agent at the property </li></ul><ul><li>We provide comparables </li></ul><ul><li>We provide the sellers hardship letter </li></ul><ul><li>We provide the repair report and estimate </li></ul><ul><li>We provide the purchase and sale contract </li></ul><ul><li>We provide a detailed summary to the agent </li></ul>
  28. 28. We negotiate a settlement with the lender(s) <ul><li>Mortgages, HELOCS, HOA, IRS, contractor </li></ul><ul><li>Request Full Satisfaction of Liens </li></ul><ul><li>Place appropriate verbiage in MLS </li></ul><ul><li>Approvals Expire </li></ul><ul><li>Planning for closing is critical </li></ul>
  29. 29. You continue to market the property and secure a buyer while we are negotiating <ul><li>Listing stays with the Realtor </li></ul><ul><li>Listing price reflects the BPO value </li></ul><ul><li>We will market to our investors </li></ul><ul><li>Buyer must be prepared to close upon short sale approval </li></ul>
  30. 30. Why Partner with Us <ul><li>You get your Full Commission and we do all the mitigation work </li></ul><ul><li>You avoid wasting your time negotiating with banks </li></ul><ul><ul><li>this is not the best use of your time </li></ul></ul>
  31. 31. Why Partner with Us <ul><li>You get an immediate offer on the property allowing us to get the short sale process started NOW </li></ul><ul><li>You can avoid all of the Short Sale Process Pitfalls because we know all of them </li></ul><ul><li>You can list our other properties </li></ul><ul><li>We give you motivated seller leads that we pay for </li></ul>
  32. 32. Commission Structure <ul><li>You Can Earn Your Full Commission: </li></ul><ul><ul><li>6% Listing Agreement with Seller </li></ul></ul><ul><ul><li>3% Paid to You for Listing </li></ul></ul><ul><ul><li>3% Paid to Buyers Agent </li></ul></ul><ul><ul><li>1%, 2% or 3% Bonus Paid at Closing </li></ul></ul><ul><li>Credit restoration provided for seller which will allow them to purchase a future home. Potential sale opportunity for you. </li></ul>
  33. 33. How do we get paid? <ul><li>We purchase the property for the negotiated debt from all lien holders and then sell the property for a higher price </li></ul><ul><li>We earn our money upon the resale of the house </li></ul>
  34. 34. Questions & Discussion <ul><li>Thank You! </li></ul>

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