About
Real Estate Road Kill: What a Brilliant Idea!
Written By: Karen Deis (Loan Officer Magazine)
Has this happened to you?
You have a purchase transaction in your pipeline. The deal is a short sale. You and the Realtor have been negotiating with the lender for oh, say, four or five months now. The lender finally decides to sell at a lower price. The buyer cancels the deal.
Right now, most MLS systems have a method to report “short-sale listings” BUT do not have a way to sort out which ones have already been negotiated with the lender.
Enter Danny Poulos! He literally had hundreds of deals vanish from his pipeline due to the length of time it took to negotiate the short sale transactions.
Because of the problem with the MLS not being able to distinguish between negotiated & non-negotiated deals, he decided to become the clearinghouse for his real estate agents.
He asked them to provide him with the information on all of their listings of short-sale bank approvals, listed them on his website, and 
was born!
First of all, to get an idea of what the website is all about, view this video first.
Where it began…..
Despite having spent the last 22 years in the mortgage business I have never seen a time where such a high percentage of transactions where “negative equity” sales, either short sales or purchases of bank owned real estate. The most successful real estate agents are clearly those who have become experts at short sale negotiating or have contracted with experienced, professional negotiators. Granted, the process is time consuming and sometimes frustrating, but some estimations suggest that these types of transactions represent over half the real estate market in many parts of the country.
I started attending classes on short sale negotiating and inevitably teamed up with an extraordinary negotiator and began providing our service to real estate agents, usually at no cost to them. When properly presented, the lender would agree to pay for our very valuable services. Of course it was a natural that our mortgage business grew as real estate agents were drawn to our ability to get their short sales closed.
Anyone that’s been involved knows of the absolute biggest frustration: you work hard (very hard), for months and finally get an offer accepted by the bank only to find your buyer, for whatever reason, is no longer interested in proceeding. The buyer may have had a number of different offers in on other properties and they came together first, or they may have lost their financing in the time that passed. In many instances the due diligence clock doesn’t start until the offer is accepted by the bank and the buyer can then choose to walk with no consequences.
The most challenging obstacle in today’s marketplace might be time. On the selling side it takes the form of the time spent negotiating with the lender and keeping the buyers engaged, all the while trying to keep the property from getting to the courthouse steps. From the buyer’s side of the market, there is a teeming interest in purchasing these deeply discounted properties but without waiting for 4-6 months to see if an offer will be accepted while other opportunities come and go.
So, here we are. Everyone’s time an effort has been spent and nobody is getting paid! That’s when I had my “Aha!” moment. Let’s take these “accepted offers” and present them as not only the best deals in the market but ready to close immediately. The lender doesn’t care who the buyer is as long as the bottom line remains the same so we just need to provide new buyers.
www.RealEstateRoadKill.com was born and now
Real estate agents and buyers are flocking to it like bees to honey (or vultures to carrion). These are the absolute hottest deals in town and all the work has already been done to prepare them for closing. Wouldn’t you have to be crazy to buy any property without looking here first?
After appearing on ABC-TV News and being written about in www.LoanOfficerMagazine.com we have had an outpouring of interest from real estate professionals throughout the country that want to put the program in effect in their area. I’m not surprised because honestly, in 22 years, this is the biggest “no brainer” I have ever seen for both mortgage brokers and real estate agents. It has absolutely saved my mortgage business and is providing instant transactions for real estate agents (and mortgages for us).
For information on how you can secure your Road Kill Territory please visit
and click on “Join Our Network”. Many regions are still available and there is a very limited charter membership offer for those ready to seize the opportunity now!
Danny Poulos has been holding real estate training classes for real estate agents for years. He has had hundreds of agents attend classes, but the most popular one, for the last year-and-a-half has been “short-sale negotiating” class.
However, what he found (and this is no surprise) is that, while agents want to learn how to
talk the short sale talk, they don’t want to do the work. So Danny has been instrumental in
helping them negotiate with lenders whenever there is a transaction like this going on.
One day he sent an email blast with his idea about the concept and then asked them to
provide a list of properties with the MLS numbers. The response was nothing short of amazing.
Danny has since discussed his idea with Richard Butler a Real Estate Broker in Kissimmee, Fl with Total Real Estate Solutions. Like Danny, Richard is a speaker, trainer and educator in the Real Estate Industry and he immediately requested the “license” for the Kissimmee area.
Richard has now started work with Danny on the “National Launch” of
and has been developing the network of web sites that they hope will eventually cover all of the USA.
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