Short Sale Processing – CommercialNationwide Short Sale Solutions (NSSS)has successfully completed hundreds of residential short sales throughout the country and is now poised and uniquely qualified to support the commercial short sale market.
In the past five years, NSSS has established a network of real estate agents, which consistently generate residential short sales. NSSS qualifies the seller and initiates the short sale process, including all the documentation. Simply put, the agent lists the property, finds the buyer(s), and runs the transaction like an equity sale. The components of the transaction between the seller and the lender are taken care of by NSSS. Since NSSS negotiates their own fee, the agent also retains the full commission. NSSS is also directly generating short sale leads nationally, and refers these listings to agents in that respective market. Our success and track record has helped to foster Approved Vendor status with several major realty firms nationally.
By many accounts, the next big wave of short sales will be in the commercial market. Below are some statistics from Commercial Short Sale Institute that lay the foundation for this prediction.
· U.S. Banks currently have a record 1.4 Trillion in Outstanding Commercial Real Estate loans
· Relentless worsening in Commercial Real Estate delinquencies
· The credit crisis has pushed $138 Billion of U.S. Commercial Properties into Default or Foreclosure
· Over 65% of Commercial Mortgages are maturing over the next few years, and are unlikely to qualify for refinancing
NSSS is well positioned to take advantage of this commercial short sale opportunity and is in the process of enhancing its national agent network of commercial real estate experts. Increasing partnership relationships with Commercial Real Estate Agents nationally is an excellent opportunity for the commercial agents and NSSS to capture this expanding market. Offering commercial short sale services to agents can help attract new commercial agents to national realty firms, as it has already done with residential agents for many firms.
To sign up for upcoming free Commercial Short Sale Mastermind calls, click HERE.
We are eager to provide turn-key short sale processing solutions to the commercial agents, and look forward to working with you. Please complete the Contact Us form to have us contact you directly or call us at 954.586.0000.