Best Arizona Realtor Reveals Her Secret to Short Sale Success

July 23, 2012 - PRLog -- Best Arizona Realtor reveals her secret to short sale success. Jennifer started negotiating short sales in 2007, back when most people never even heard of a short sale. “I was so overwhelmed with the process, and amazed at the bank’s lack of competency back then! I had an offer of 600k for a custom home in Scottsdale the bank would not accept after I sent them crates of supporting documentation. That same home later sold for 290k!” A lot has changed since then, banks have gotten more organized, and there is a lot more information and support readily available to agents.

Jennifer received an award from her brokerage for “Most Closed Short Sales” in 2011. The third year in the row she has closed the most short sales in her brokerage. Jennifer reveals her secret to short sale success, and what it takes to be one of the best Arizona Realtors.

Q: What was the first step you took in educating yourself on short sales?

A: “First, I booked one of the only classes I could find—a class taught by a local realtor who had experience. Second, I met with an investor who had been negotiating short sales for years to compare notes”

Q: What has changed since you started negotiating short sales?

A: “More like, what hasn’t changed! Well, most of the documentation needed is the same—a hardship letter, tax returns, financial statement, etc. I think the biggest thing that has changed with short sales, is the incredible amount of information and support out there. In 2009 I received my CDPE designation, and also joined the advanced program which provides a lot of information and support for agents. I have also formed a personal mastermind group to share ideas and help with problem-solving. In addition, I have been involved with a couple of Facebook groups consisting of agents sharing information on a daily basis. I have received extremely valuable information from all of these sources!”

Q: What is one of the biggest challenges for you in negotiating short sales?

A: “That would be receiving approval letters that protect my clients. There have been many times I have received approval letters that contain “deficiency language”, meaning the seller would still be on the hook for the loan balance. Because of our anti-deficiency laws in Arizona, in most of these cases it makes the most sense for the seller to foreclose as they would avoid being on the hook for the deficiency balance. When I receive a letter like this, it is my duty to go back and try to negotiate it out. The last case I had was with Wells Fargo, who issued an approval letter reserving the right to sue the seller. I immediately contacted a higher-up, and within one week got an approval letter waiving the deficiency. But they are not always that easy and successful, and sometimes a short sale will have to go to foreclosure because of it.”

Q: What do you find is your primary motivation?
A: “It is definitely helping people. There are some short sales that I have practically done in my sleep it was so easy, but others that have nearly driven me to the madhouse. It makes me happy when I can help a homeowner avoid foreclosure, and know that I am making a difference.”

Q: Are there any other secrets to your success that you can share?

A: “I have a great team in place. I have a full time assistant and great title company who helps process the short sales. I also have a good relationship with an attorney who I will turn to for advice, and in some cases will refer her the files to negotiate. It is critical to have a strong team in place.”

Q: Do you have a resource for homeowners who may be interested in learning more about short sales?

A: “Yes, I have setup a website that is consistently updated with new information. www.AZForeclosureHelpToday.com. There are many reports and tools for homeowners including updated incentives, Foreclosure vs. Short sale information, new government programs and more!”

If you would like more information on one of Arizona’s best short sale Realtors, contact Jennifer Wehner today at 877-293-3259 or Jennifer@JenniferWehner.com. You can also visit her short sale website at www.AZForeclosureHelpToday.com or read up on her blog at www.JenWehnerBlog.com.