I chose to carve out my niche in distressed properties and the fruits of my labor over the past two years is finally paying off. People thought (and still do) I was crazy to "limit" myself to such a market. Now those people are calling up and begging me for information on how to handle a short sale listing they took on that they have no idea how to close.

It never ceases to amaze me that everyday I talk to agents who are broke and sitting on the sidelines waiting for good times to roll around again. I ask them how they are handling their short sales and I get the standard reply: "I don't take those listings" or "They cut your commission, I don't bother with them." Oh yeah, then give them to me because for the foreseeable future it's going to be the only game in town.

I don't want to brag but I have it down to a science. So much so I hired a team to help me handle the short sales. I have turned the negotiation process into a minor inconvenience. Typically after an offer is received and forwarded to the bank for approval, there is a 30-45 day waiting period. During this time I take advantage and get all the ducks in a row to be ready to close within two weeks of approval. So the sales cycle is only extended by a few weeks if you do this right.

The only thing I can say is I hope everyone else keeps turning away distressed listings, heck if you send me any I might even pay a referral fee. Did I mention that the agents sending me their business aren't even asking for referral fees. They feel sorry for me.

Noel Padilla