Real Estate has new terms

REO, Short Sale, Foreclosure..are all common words in the Phoenix Real Estate market . Scary terms to all homeowners these days. The economic woes have caused numerous homeowners to lose their homes. It is a tragedy in our Nation that has contributed further to a declining economy. Is there a bright side?
Survivors will refine their business models to include services that directly relate to corporate Clients, including asset managers, Financial Institutions, and BPO Providers.
In addition, the surviving Real Estate Agent will also provide solid advice to homeowners that are struggling to maintain ownership or sell their home and realize the best return on their most important investment. That solid advice will now include discussions about many potential options:
• Foreclosure
• Short Sale
• Market Value
• Budgeting
• Home Loan Modification
The Realtor must be equipped to add value to these discussions. If a Real Estate Agent is not educated in all the above subject-matter, that Agent does not have the necessary tools to survive, much less thrive in today's marketplace. While none of us wanted to "specialize" in foreclosures, the consumer will continue to demand services that fit their needs in an ever-changing environment.
Real Estate Agents should be prepared to have these emotional discussions with homeowners, allowing the homeowner time to consider all of their options, digest the reality of their decisions, and set a future date to solidify their plans. If you need to become more educated in any of the above topics, whether you're a homeowner, Realtor, Asset Manager, REO Provider, or a potential buyer, please don't hesitate to ask me. I will share any and all of the above knowledge so that we can provide the best possible service to our Town, County, State, and Country.
While competition is fierce, together we are stronger. The sharing of information is not the same as losing information or giving up trade secrets. The more people that are very firm in their resolve to assist in these difficult decisions, the better.