Short Sale Agents Can Not Negotiate?
In the state of Georgia a Short Sale Specialist is someone who is not allowed to - by law - negotiate a short sale. Have you ever heard of anything more ludicrous? The truth is the law, but let's look at the different parties the state of Georgia thinks is more qualified.
Short Sale Attorneys - most attorneys get into short sales to supplement their income from their failing real estate or bankruptcy practice. Unfortunately for the attorneys that try to "negotiate" they are only "exceptioned" in the law and really shouldn't be negotiating. Of course, the real truth is that I have not met an attorney yet that actually gets on the phone with the bank, so I guess they're safe.
Mortgage Brokers - This is who Georgia law makers think is best suited to negotiate short sales. The problem is that most mortgage brokers want to write new mortgages not get involved in shorting them.
Short Sale Real Estate Agents - Nope, these guys aren't supposed to negotiate at all. Period.
Here's the problem with this, is that only one "group" out of this list that has any financial incentive to do any of the negotiating. That is the agent! Sure you could try to get money through other means, but they have laws about tha too.
For us, we'll continue to process the short sales and come up with creative ways to call what we do ANYTHING but negotiation to sell these Georgia Homes, but I think we all know what's going on. The people who make the laws, the people in our associations, on our boards, are not the people doing the work out in the field. Reminds me of the political system. HMMM...