You may already know that short sales can be a long and involved process, and frustrating for everyone involved.  The secret to eliminate many common headaches is getting the property ‘pre-approved’ for a short sale offer, while gently guiding the sellers in order to avoid potential disasters.

Would you like a quick reference for exactly what you need to get short sales pre-approved in record time?  Agent Terrence Hassett explains how to do just that in three simple steps.

Here’s Terrence’s description in his own words:

“Co-op brokers are wary of short sale offerings, due to the risk of last minute fall-out or problems over commissions.  By counseling your sellers to submit EARLY, you can usually get a ‘pre-approved’ short sale offering, and head off some of these problems.  Here’s the best way to approach this…

A. Start by obtaining the submission package from the lender or have your own, including:

B. Counsel your sellers as to the potential problem spots up front, like:

C. Let sellers know that the lender will likely ask for:

If you can get your short sale pre-approved, you can offer the listing with a higher probability of closing.  And these three steps will put you well on your way to a complete package for an offer submission.”

“What are some of the things buyers look for in a new home?  Many times they look for things they don’t have in their current home, like a ‘showcase’ bedroom.  What is a showcase bedroom?  It’s a bedroom that looks like it came right out of a major magazine.  More than that, it’s a room where buyers can imagine themselves living in the home.  Here are four tips for creating a showcase bedroom:

The bedroom is a personal space for the buyer.  Creating a great bedroom isn’t just about the furniture, but it’s about turning an ordinary bedroom into a place that will comfort a buyer to escape from the rest of the world.  So spend a little time and energy to really look at the bedroom from a buyer’s eye and your house will sell faster.”

Procrastination is a problem everyone faces, but for real estate agents it can be a career killer.

How many times do you find yourself putting off making a phone call? Or, do you ever get to the end of a day and feel that important tasks slipped through the cracks?

Putting off important tasks not only prevents you from maximizing your income, it can lead to stress, frustration, and ultimately burnout. But don’t get the procrastination blues. There are proven ways to address this common problem.

First, identify if you have a bad procrastination problem by taking a simple quiz included below. Next, get a hold of your priorities with five procrastination-busting strategies you can implement today.

Is Procrastination Killing Your Production? Take This Short Quiz…

Choose the response that matches your behavior:

I would quickly finish my work, but sometimes I get too tired, nervous, or upset.
4 = Strongly Agree
3 = Mildly Agree
2 = Mildly Disagree
1 = Strongly Disagree

I need to straighten my car/office/home before I start working.
4 = Strongly Agree
3 = Mildly Agree
2 = Mildly Disagree
1 = Strongly Disagree

When I’ve finished meeting with a client, I often start doing something else instead of starting on tasks for that transaction.
4 = Strongly Agree
3 = Mildly Agree
2 = Mildly Disagree
1 = Strongly Disagree

I often carry around papers in my car or stack them on my desk but never get around to reviewing them.
4 = Strongly Agree
3 = Mildly Agree
2 = Mildly Disagree
1 = Strongly Disagree

I like to do most of my work at the last minute, because I perform best when the pressure is on.
4 = Strongly Agree
3 = Mildly Agree
2 = Mildly Disagree
1 = Strongly Disagree

Sometimes, I put off starting paperwork for a transaction until I have every last piece of information.
4 = Strongly Agree
3 = Mildly Agree
2 = Mildly Disagree
1 = Strongly Disagree

If it weren’t for all these interruptions, I’d get more of my top priorities accomplished.
4 = Strongly Agree
3 = Mildly Agree
2 = Mildly Disagree
1 = Strongly Disagree

When faced with a difficult client, I try to avoid speaking with them directly.
4 = Strongly Agree
3 = Mildly Agree
2 = Mildly Disagree
1 = Strongly Disagree

If I get turned down for a listing, it takes me a while to start looking for another opportunity.
4 = Strongly Agree
3 = Mildly Agree
2 = Mildly Disagree
1 = Strongly Disagree

If I take half-steps working for a buyer, I can often avoid or delay unpleasant tasks.
4 = Strongly Agree
3 = Mildly Agree
2 = Mildly Disagree
1 = Strongly Disagree

Tally your total score, adding the numbers that match each response, and then rate yourself.

A Score of 10: No problem.
Between 11 and 20: You’re an occasional procrastinator.
Between 21 and 30: You’re in trouble.
Above 30: You’re nearly hopeless.

If you scored over 10, here are my top five personal tips for beating procrastination:

1. Complete tasks first thing in the morning.
All of the tasks for a transaction never end up being as bad as you think. And the later in the day you push them, the more likely you’ll get distracted with calls to make and other chores. So, create your action list the night before, blitz through your list in the morning, and give yourself a small reward for getting them done.

2. Break big jobs into smaller ones.
If the details of a transaction seem daunting, most agents put off even starting. But if you break each major task into 5 smaller tasks, everything gets done faster and you feel better about your progress.

3. Team up with a friend or spouse.
In this business it’s common to feel all alone. If you get others involved you’ll stay more accountable to your goals and schedule. First, write down your goals – what is it you want to achieve? Then share these goals and your schedule with a friend or spouse to make yourself commit.

4. Get rid of all distractions.
What distracts you from getting work done? Is it your blackberry, checking the MLS for updates every hour, or another agent in the office? The key here is to identify what distracts you by writing it down every time you get sidetracked. Make a rule with yourself that you won’t do that thing again until you finish your scheduled task. For many agents the biggest distraction is checking email constantly throughout the day. Limit your email checking episodes to 4 times a day or less and you’ll be astonished at how many more priority activities get done each day.

5. Remodel your work environment.
If you work out of your home, you have to treat it like a real office. Remove anything not work-related like TV, magazines, and non-work books. And this is especially critical: tell your family that you’re not to be disturbed when you’re in your office.

Procrastination only sabotages your success. If you are going to achieve your goals for this year—and for your career—address this common issue without delay.

Do you remember the value of educating clients from this article? An educated client is worth 8 to 10 times more than an UN-educated client.

Today, many buyers are considering buying short sale properties but they are “UN-educated” and often UN-realistic about the time frame and details involved.

Agent Nancy Biel Stewart uses a unique tool to educate buyers of short sale properties. Using a simple “short sale booklet” she gives her buyers an overview of the process and sets their expectations up front. This helps her diffuse their frustrations with the process AND is a powerful way to communicate her knowledge and value to clients.

Here’s Nancy’s description (and sample below)…

“Selling real estate today can be challenging in many ways. Many of our listings are in short sale situations. I represent buyers most of the time, so I have taken several classes on short sales to better help them. I use the handouts from these classes, combined information from my experiences and created booklets to give my clients who are considering the purchase of a short sale property.

One key to selling these homes is managing your client’s expectations. I let them know up front that they may not get an answer from the banks on their offer for months and that other buyers may submit competing offers even after the seller has signed the initial offer.

My booklet explains the process from both the seller and buyer side so my clients know what they are getting into! If they proceed and become discouraged or anxious, I just refer them back to the book and calm their anxiety. Most read the booklet thoroughly and have a better understanding that all parties involved are under much stress and patience is the key to a successful closing.”

You can click on the image to see a sample booklet as a pdf: