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Is a Monkey Negotiating Your Sacramento Short Sale?

By
Real Estate Agent with Elizabeth Anne Weintraub, Broker DRE #00697006

sacramento short sale negotitatorMuch of my work as a Sacramento short sale agent is handled through email. So, I almost had a heart attack when I turned on my computer this morning. My start-up programs loaded and I didn't have any emails. For a brief second, my heart about exploded. My immediate thought was my computer had malfunctioned, maybe my hard drive had been erased. Of course, nothing of the sort happened. I simply had too many emails coming in for the computer to immediately bring them up. I wasn't patient enough.

Many of those emails are one-liners that say: Thank you. Or will do. While it's nice to receive acknowledgments, they aren't always necessary, and those emails certainly don't require a response; yet, I am guilty of doing the same thing. It depends on, though, whom the email is from. If it's from clients, I do want them to know that I have received their documents. But I don't try to clog up my associates' or vendors' email in-boxes. I imagine they get as much email as I do.

I negotiate just about all of my short sales myself. Especially my favorite, Bank of America short sales, because I've been working with Bank of America for years and understand its goofy systems. Since they've switched to Equator, the short sale process has been easier and faster. I also love, love, love a Wachovia short sale because they are so straight forward and simple, which few short sales are lately. Wachovia also gives my sellers cash bonuses.

Every so often a client will contact me who wants to hire a lawyer. I have a list of competent lawyers I refer.

So, if your short sale isn't moving forward, I suggest you take a look at who is negotiating your sale. Is it a third-party vendor that runs a short sale mill by volume, without personal attention to each file? Is it an agent without any experience? An agent who is too swamped with business to do the job right? Has your short sale dropped into a black hole never again to see the light of day? Because my Sacramento short sales tend to close. I've got a great team. I mean, am I lucky or what?

Photo: Big Stock Photo

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Elizabeth Weintraub is co-partner of Weintraub & Wallace Team of Top Producing Realtors, an author, home buying expert at The Balance, a Land Park resident, and a veteran real estate agent who specializes in older, classic homes in Land Park, Curtis Park, Midtown, Carmichael and East Sacramento, as well as tract homes in Elk Grove, Natomas, Roseville and Lincoln. Call Elizabeth Weintraub at 916.233.6759. Put our combined 80 years of real estate experience to work for you. Broker-Associate at RE/MAX Gold. DRE License # 00697006.

Photo: Unless otherwise noted in this blog, the photo is copyrighted by Big Stock Photo and used with permission.The views expressed herein are Weintraub's personal views and do not reflect the views of RE/MAX Gold. Disclaimer: If this post contains a listing, information is deemed reliable as of the date it was written. After that date, the listing may be sold, listed by another brokerage, canceled, pending or taken temporarily off the market, and the price could change without notice; it could blow up, explode or vanish. To find out the present status of any listing, please go to elizabethweintraub.com.

Comments(6)

Colleen Fischesser Northwest Property Shop
NextHome Experience - Chelan, WA
A Tradition of Trust in the Pacific NW since 1990!

I've seen far too many short sales negotiated incompetently; by both "professional" negotiators as well as agents who decide they're going to "try" a short sale when they really haven't invested the time to learn what's required. Sellers in Sacramento who need a short sale expert are certainly lucky to have you at their disposal!

Feb 23, 2010 02:07 AM
Cynthia Larsen
Cotati, CA
Independent Broker In Sonoma County, CA

Elizabeth - I had the chance to see the new (draft) version of CAR's Residential Purchase Agreement that will be coming out in April this year.  In the "Other Terms" section, both the Short Sale Advisory and REO advisory are listed with a check box next to them.  This tells me that CAR feels that our Short Sale / REO situation isn't going away anytime soon.  You have a great niche that should provide a lot of business for quite some time.

Feb 23, 2010 02:46 AM
Elizabeth Weintraub Sacramento Broker
Elizabeth Anne Weintraub, Broker - Sacramento, CA
Put 40 years of experience to work for you

Hi Colleen: In California, only real estate agents or lawyers can negotiate a short sale, but that doesn't mean there aren't a lot of so-called professional negotiators who aren't adhering to the legal requirements.

Hi Cynthia: I saw some of the new revisions in the purchase agreement, too. I'm looking forward to it!! It's a breath of fresh air.

sacramento short sale agent

Feb 23, 2010 03:23 AM
Wendy Rulnick
Rulnick Realty, Inc. - Destin, FL
"It's Wendy... It's Sold!"

Elizabeth - Good teams and/or a great system are important.  No short sale should be dropped into a black hole!

Feb 23, 2010 09:51 AM
Terry & Bonnie Westbrook
Westbrook Realty Broker-Owner - Grand Rapids, MI
Westbrook Realty - Grand Rapids Forest Hills MI Re

Only so many hours in the day and getting the right people to handle what they do best is great advice.

Feb 23, 2010 02:56 PM
J. Philip Faranda
Howard Hanna Rand Realty - Yorktown Heights, NY
Associate Broker / Office Manager

We use a law firm and have never regretted it. It frees me up to actually broker and not lose my mind on hold with a mid management grunt who can't wait to get me off the phone.

Feb 23, 2010 04:48 PM