Realtors, short sales- what has the world come to

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Posted by nj guy on October 10, 2008 at 15:18:30:

I'm just kidding- everyone has the right I suppose.

In my area of NJ there are a lot of listings where the listing agent advertises "subject to short sale approval" or "approved for short sale". Well, I tracked a bunch down and after speaking to them it turns out that they typically take on all the short sell negotiations themselves and they are getting them approved. Actually, a lot of them get approved.

Keep in mind that they aren't investors. None that I spoke to are actually buying the homes or interested in a profit over their comission, they are just bringing the payoff amount down to market value.

I can see how the realtor gets near a 100% acceptance since its market value but I wonder why they aren't open to actually creating a spread, or farming the work to an investor who can create a spread. Has anyone actually partnered with a realtor to do a successful (profitable to the investor) short sale? And if so, how exactly did you get paid?

Thanks in advance



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