I'm writing to let you know about the #1 way to speed up the Short Sale process that very few Realtors actually know about. Not using this strategy is the Biggest Mistake most Short Sale Realtors make. It may not be what you think, because it's not a "traditional" real estate strategy...

I can't wait to tell you this secret, but first let's quickly look at how most Short Sale Realtors go about their business.

There are many Realtors that are actually turning down Short Sale listings. Some Realtors think that it takes too long to negotiate with lenders. Other Realtors have had Short Sales that took so long for the lender to respond, that they lost the buyer and the deal fell out.

If you want to know how to speed up the Short Sale process and ensure that your buyers stay on board, be sure to keep on reading. Let's start with a classic example of a new Short Sale Realtor...

John is a real estate agent who has heard about Short Sales and decides to take his first Short Sale listing. He lists the property and submits the Short Sale packet to the lender.

The property then sits on the market for 2 months before John gets an offer. Once he receives the offer he submits it to the lender who now orders a BPO (Broker's Price Opinion) on the property.

Unfortunately, it usually takes the lender 3-4 weeks to get the BPO completed...

Once the BPO value is updated in the system, it then often takes the lender another 3-4 weeks to get an approval or rejection on the Short Sale offer...

So what is the BIG mistake that John made here?...

Are you ready to discover the #1 way to speed up the Short Sale process that most agents don't know about?...

Okay, here it is...

Most Realtors never send in an offer on the property when they send in the completed Short Sale packet. In actuality, it is NOT a completed Short Sale packet if it doesn't have an offer. But wait, there's more...

If you don't send in an offer, the lender will usually not order a BPO on the property. Once an offer is submitted, it may take 3-4 weeks before they assign a BPO agent, a BPO is done, and it is updated in their system. It may then take another 3-4 weeks after the BPO is in their system until you hear from the lender if the offer has been approved or rejected.

In total, you could have a ready and qualified buyer that is waiting 2 months just to hear if their offer is approved or denied...

Many Short Sale Realtors are losing these qualified buyers because they are taking to long to get back to them...

However, if John had submitted an offer on the property when he submitted the original Short Sale packet to the lender, he could have cut his response time in half! Which means he would be closing more deals, more often...

By sending in an offer on the property right away with your COMPLETED short sale packet, it will trigger the lender to order the BPO right away...

This will assure that 3-4 weeks later, when the BPO is completed, you will be able to turn around and cut your response time in half with any future offers. Instead of taking 6-8 weeks to get an acceptance from a lender, now you will get one in 3-4 weeks...

So the big question is... How do you get an offer to submit to the lender on the first day that your property is listed?

This is where the "lowball offer" comes into play...

Finding a real estate investor that would be willing to make an offer on a property at 25-30% below market is a fairly easy task. Many real estate investing seminars teach investors to make hundreds of lowball offers on properties in hopes that a few of those offers will be accepted.

In fact, you may even have a friend, family member, or realtor in your office that would be willing to purchase a property if they were able to get it at the right price...

This is where your first offer comes from. By sending in this "lowball offer" with your completed Short Sale packet, you will assure that the lender orders the BPO. Now, here is the interesting part...

If the offer does get approved by the lender, then your buyer just got an incredible deal. However, about 98% of the "lowball offers" you submit, will be rejected by the lender...

...But guess what?

Even though the offer was rejected, you were still able to speed up the Short Sale process by about a month!

In addition, the lender may counter your lowball offer. For example, let's say you listed a property at $400K and found an investor who submitted a lowball offer on the property at $300K. Even though this $300K offer will probably not be accepted, it is very possible that the lender may send you a counter offer at $340K...

This means you can now drop your list price from $400K to $340K AND you can market this property as an APPROVED short sale at $340K that can close quickly!

This will stimulate A LOT more activity on your property, which means you will be getting more commissions, more often...

The first 6 months of 2008 will have more Adjustable Rate Mortgages adjusting up to a higher payment then there was in the entire year of 2007. This means we can expect the biggest wave of Short Sales and foreclosures to come on the market in the second half of 2008 and continue through the first half of 2009. There has never been a better time to take action now and strike while the iron is hot...

Remember, unlike many other businesses, you CAN grow your Short Sale business practically overnight. This also opens the door to growing your buyer business via sign calls and other buyer contacts that you make by marketing your short sale listings...

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