Want to create a new real estate revenue stream? Bankruptcy trustee short sales could be the steady stream of revenue you are looking for to go with your residential real estate transactions with buyers and sellers. In his Real Estate Rockstar Radio interview, Mark Karten gives us a look at how he took his short sale expertise and applied it to a real estate niche and made money with bankruptcy sales.
Mark Karten specializes in Bankruptcy Trustee Short Sales and teaches agents to be trusted advisors – focused on their client’s needs rather than their commissions. Learn exactly how Mark reinvented his real estate career after making a cross-country move from Las Vegas to New York City and discover how you can make money with bankruptcy trustee short sales in his podcast interview with Pat.
Bankruptcy Trustee Short Sales Information
According to Mark, there are 18 bankruptcy trustees with each representing a federal district. When there is a bankruptcy short sale, the bankruptcy trustee is responsible for getting the properties sold and distributing the revenue from the sales. Like other short sales, the bank often slows down the process and causes delays in bankruptcy trustee short sales.
Advice on Becoming a Bankruptcy Trustee Short Sale Agent
Want to become a listing or selling agent for bankruptcy trustees? Mark offered some excellent advice if you answered “Yes” to that question. You must first get certified through The National Bankruptcy Broker Network. Visit their website here to get certified.
If you want to be successful as a real estate agent who specializes in listing and selling bankruptcies, Mark had a good piece of advice. Start first by getting experience in short sales and learn the ins and outs of listing short sales. Once you build a successful portfolio, you should then consider getting certified and register with The National Bankruptcy Broker Network (NBBN) as a real estate professional who specializes in the sale of bankruptcy real estate.
Tips for Bankruptcy Trustee Short Sales Success
Making money selling real estate bankruptcies is not easy and it is not a revenue stream or real estate niche that is made for everyone. First and foremost, like and agent specializing in short sales, you must be extremely patient. The bankruptcy transaction can take a long time and can be filled with many ups, downs and delays which can test your patience.
With that in mind and because bankruptcy trustee short sales can take a long time to close, you can not count on a steady stream of revenue if you don’t put in the effort to fill your pipeline with properties in different stages. When you have a pipeline of properties in different stages of the short sale, then you can start seeing a nice additional revenue coming into your business.
Bankruptcy sales were not all short sale expert, Mark Karten, discussed in his interview with Pat. Give this podcast a listen to hear about Mark’s other source of business, how to break through your goals and much more.