The 1 process that may be preventing you from bringing in more revenue.

I just graduated Florida State University and am looking for ways I can bring value to real estate professionals (the niche I choose with the help of my coach).

After speaking with four brokers, I've found that in the process of short sale deals, a broker can spend quite a bit of time essentially being the middle man between the bank and the client.

The banks want to know:

When inspections are going to be done
What client offers are on the table
What documentation the clients have

The clients also want to know:

Status updates on their sale

Then there is the request of paperwork back and forth between the client, broker and bank.

Does this sound like you?

I'm currently looking into the issues brokers have with short sale deals to solve this issue so that it takes up less time, focus and energy allowing you to focus more time, focus and energy into getting more clients, closing deals and bringing in more revenue. Since this seems like a significant amount of time to spend on such a simple process, I'm looking into building a software solution.

In addition to the short sales portion, Jesse Gonzalez mentioned in a phone call with me that there is also a need for a better Lead Management System. I'd like to research both ideas to see if there is enough pain and inefficiency here to decide if it is worth tackling.

The more people I talk to about this problem the better (and sooner) I can flush out the problem and offer a solution!

After doing research, the most profitable real estate brokers and companies invest in software to make their processes streamlined, eliminating waste of time and money.

That being said, this is not for people doing real estate part time. If you think you are a professional in the real estate space, your expert advise could help transform the niche. Im honestly trying to find a pain point that is worth solving. Is there by any chance you can give me any feedback?

Mike that is definitely really valuable! Having only spoken to a few brokers it's definitely good to hear the flipside of the coin. Knowing it's not going to be a long term issue is helpful. That hasn't come up in any of my previous conversations.

That being said there have to be issues that people have with current systems or inefficiencies that broker's don't have solutions for. As with any excellent product there are still markets or niches they don't serve.

What do you recommend is the best way to get into contact with brokers or agents to really dig into how they work?

Reason being I've burned over $10,000 in trying to build products that I thought costumers wanted and since have vowed to only create products that deliver REAL value to people but to also fight against all of those people who are just trying to sell something you think you need, something I found wasn't the way to really make an impact.

Replies

Mike Linkenauger February 11, 2013 at 9:42am

Also, ive never heard a lender mention the word inspection when it comes to a short sale
Mike Linkenauger February 11, 2013 at 9:40am

Hi pascal! There are many solutions out there already, many processing platforms , 3rd paties, ect... They are not time consuming at all if you know how to effectively do things. In addition, with fannie mae streamlining deed in lieu and streamlining foreclosures to control the market and force price appreciation artificially, you are too late in the game to do anything. By 2015, there will vbe very few short sales.
- Pascal Wagner > Mike Linkenauger February 11, 2013 at 10:22am
  
  Mike that is definitely really valuable! Having only spoken to a few brokers it's definitely good to hear the flipside of the coin. Knowing it's not going to be a long term issue is helpful. That hasn't come up in any of my previous conversations.
  
  That being said there have to be issues that people have with current systems or inefficiencies that broker's don't have solutions for. As with any excellent product there are still markets or niches they don't serve.
  
  What do you recommend is the best way to get into contact with brokers or agents to really dig into how they work?
  
  Reason being I've burned over $10,000 in trying to build products that I thought costumers wanted and since have vowed to only create products that deliver REAL value to people but to also fight against all of those people who are just trying to sell something you think you need, something I found wasn't the way to really make an impact.

This reply was deleted.