Short Sale Automation... does it mean FAST, SMOOTH and BENEFICIAL or / how will it play out?

So how can the Short Sale process change where it really will help? I will admit Short Sale Automation does sound good!!! I can't wait to see it work.

After reading that REOTrans has first changed their name and secondly and probably most important: they are taking on automating Short Sale process.  And then to hear that Bank of American is possibly that first bank to jump on the wagon.... well this brings about questions in my mind.

1.  How does this help the agent's job of producing a successful Short Sale

2.  Will REOtrans/Equator's involvement help or hender agents from getting the short sale listings?  Will the banks end up with a preferred agent list and thus leave out a large number of local agents from the listings?

3.  Will it cost the agent to have this new automation?

4.  How will this help or hinder the homeowner/borrower?  Will it indeed make the process simplier, smoothier, faster and without hassel the homeowners?  Will agents have to do more even though it is automated?

5.  When will it start?  How do we become involved?

6.  Or is it that the agent get the listings and then upload the information into the Equator system and manage the Short Sale request (if it is participating bank) through the system?

If the system is there for agent to upload their listings, request, documents and all with a timeline set to get the short sale approved and closed in a timely manner ---> this could be really good for all involved.  But it turns out to be a war of the agents to sit by the system and wait for short sale properties to pop up on Equator system (sort of like BPOs) then it could turn out to be a not so good an idea.

** RETrans.com has changed their name to Equator

 

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