Real estate brokers and agents can be indispensable if you are facing foreclosure and want to do a short sale. The major difficulty in doing a short sale is that you often must get a solid offer from a potential buyer before your lender will tell you whether or not it will accept the terms. A local broker or agent who is familiar with a particular lender’s practices will have a good idea of what kind of terms the lender will accept.
The broker can also negotiate with your lender for the final terms. Pushing a short sale through can require experience with the lender (or lenders) and experience in negotiating real estate deals.
If you don’t already have a broker or agent you trust, ask around for reliable names. Most communities have real estate firms with well-respected brand names, and I see no reason not to trust agents working for those companies.
Real estate brokers and agents are subject to regulation by every state. To find out whether your broker or agent is licensed, check the website of your state’s real estate regulatory agency.