Can You Really Claim to Be a Short Sale Agent if You've Got Someone Else Handling the Short Sale Negotiations?

You know the need for the client is to get the short sale successfully completed.  I am glad you can do that.

It's the team effect, personally I think attorney's muddy up the water and delay the whole process. When you have one tack on an extra 30-60 days is my opinion.

Chris,

I respectfully disagree with you that because an agent does not negotiate his/her own short sales does not make him a short sale agent. 

It appears that this agent, to whom you refer, may have been one who is a late comer to the short sale arena and may be trying to play catch up by using a negotiator. Either that, or he may one of those who figured out that he would not afford to devote additional time to negotiating short sales for which he will not be paid one dime. He would even run the risk of doing the work and the bank would reduce his commissions.  

 I agree that he conveniently overlooked the fact that the seller had decided NOT to sell.

I have met other agents who did their own short sales for years but became frustrated by the long drawn out process. Instead of passing up these deals they now farm out their short sales to a competent negotiator who gets the job done. The unpaid time they spent negotiating short sales is now devoted to acquiring new clients, education or their families. The stress in their lives is now greatly reduced. 

Short seller beware. Do your homework. Not all short sale agents are created equal. Some negotiate with the banks all day, everyday and have developed the expertise to be successful most of the time. Others are new to the process will use your property to put into practice the information they learned at a seminar or read on the internet. There is yet another breed-those who used to do their own negotiating but now farm it out to competent third parties. 

Ask lots of questions. You deserve to make an informed decision. 

Some people are just short sighted.

Good morning, Chris Ann..... we are NOT short sale agents but we have had a couple of short sales within that past year or two..... we DO use a short sale attorney to negotiate with the bank....we closed on them and she negotiated an extra percent for us!!  we'll stick to new construction....

Hi Chris, I think you are right. Short sale agents should have some experience in actually completing short sales. Once some real experience is gained, I think it is fine to hire a negotiator if desired. Many short sale agents have so many deals that a negotiator is required and an asset.

Hi Chris Ann - I get angry everytime I run into these agents, and up against the fact that their client's financial well-being is the last thing on their mind. We have to find a way to restrict access to these situations to agents that are truly qualified to help. Frankly, I'm surprised that we haven't seen a lot more litigation resulting from this kind of thing - and at this point, I'm guessing that's what it's going to take to get our act cleaned up.

Chris Ann,  Got to love those Experts in The Field!  Some agents will use any line to get business and sadly its the client that suffers in the end.

Chris Ann -- I imagine this might be one phone call he regrets making --- sounds as if you gave him an earful -- hopefully he learned something valuable from someone who is actually successfully and consistently closing short sales.

You can delegate but still negotiate your own short sales, which is how I do it. I personally negotitate because I believe that I owe above and beyond service to my sellers. It doesn't mean I don't use an assistant, though, because I do. I think it's smarter to spend my money on an assistant to help ME to negotiate more effectively than it is to do it the down-and-dirty and cheap way -- outsourcing.

Agents who outsource short sale negotiations to third-party vendors aren't really short sale agents; I agree with you. They are agents who happen to do short sales. There is a big difference between the two.

I would think it would depend on the relationship between the 3rd party negotiator and the agent. For instance, the agents that use me to negotiate their short sales have total control over the process. I give them my advice and the logic behind it and they will either go along with it or have me continue the negotiations their way. I guess the bottom line is the extent of control and communication between the two.

Agreed. You need to know your product before selling the idea to someone else. How can I trust that your attorney is any good when you don't understand the process yourself.

 I was called in for a short sale that another agent was handling but not getting any where, the sellers cancelled the listing and I stepped in.. first the agent was using an attorney for negotiation,  the attorney advised the sellers to file bankruptcy instead of short sale thankfully they did not. Their lender complained that they cannot get anyone at the attorney's office to return calls.. I guess you are short sale agent because that is the buzz word now.