Realtors were praised for playing a crucial role in helping families manage short sales at a recent real estate exposition.
Short sales are often negative occurrences for households, but with the guidance, support and efficiency of real estate agents, the process can be less painful.
HousingWire's Real Estate Expo emphasized this concept recently at a panel named Short Sales: Converting Leads to Listings and Other Key Strategies.
Realtors were lifesavers to those who needed a fast, short sale, Kyle Whissel, broker and owner of Whissel Realty, explained to the panel. He also recommended staying in touch with these clients, noting that they could become homebuyers again in a few years.
Foreclosed houses accounted for one in five residential sales in the first quarter, while properties that sold as short sales but were not in foreclosure made up roughly 15 percent of residential sales, according to real estate records from RealtyTrac. Homes sold in a short sale in the first quarter went for an average of $178,392, an uptick of 4 percent from the final quarter in 2012.