Special offer

Should Be a Sign on My Office Door | Snap Out of It!

By
Managing Real Estate Broker with NextHome Experience 17050

Don't let the sign fool you.

I LOVE negotiating short sales.

Which is fortunate, given that I'm a real estate broker in the greater Seattle area, where prices rose quickly and values dropped dramatically.

In 2000, I negotiated my first short sale for a client and have since helped numerous owners, upside down in value, sell short.

In fairness, the process has gotten better over the last 5 years, but let's just say it's not the "journey" I enjoy so much as the destination.

Some days I wish I had a camera over my shoulder documenting the unbelievable inefficiency of BoA some of the companies I have to work with. Other days I wish I had a direct line to someone in the Government who cared about the senseless bureaucratic BS we're forced to wade through. (Oh wait....why would anyone in Government care about that? Fantasy of mine I guess).

Speaking of fantasies, now and then (usually while on hold listening to some jazzy tune) I visualize being able to stand face to face with a Fannie Mae processor and shout "Snap out of it!" really loudly, ala Cher in the movie Moonlight. 

No really.

I actually think about this.

"Snap out of it!

We all know you're going to put up a fight and tell me you can't change the approval letter,  but in the end we both know you are going to send me that letter waiving deficiency rights so why are we spinning our wheels here?"

Yes, it's frustrating.

Yes, I often think my time is being wasted with big-bank-bureaucratic-bs.

BUT....then comes the day when my persistence pays off and the iceburg shifts and I can take the sign off my door. 

Until the next time that is....

 

Posted by

 

Thanks for reading!

 

 

 


 

 ____________________________________________________________________________________________________________________

Colleen Fischesser REMAX

 Serving the beautiful Pacific Northwest Since 1990!

 

Colleen M. Fischesser, Managing Broker

RE/MAX Advantage, L.C.

Serving Seattle and the Chelan Valley

206-491-3819  (Cell/Text Seattle)

509-699-1611 (Cell/Text Chelan)

 

 www.ColleenFish.com

www.ChelanPropertyShop.com

www.NWPropertyShop.com 

 ___________________________________________________________________________________________

This is a personal blog based on my opinion and experience in the real estate industry. All content is provided for informational purposes and should not be construed as legal, financial or tax advice. Laws, industry practice standards and procedures vary by state. Readers are advised to contact appropriate third parties for professional advice when needed. Any questions please let me know!

 

Laura Cerrano
Feng Shui Manhattan Long Island - Locust Valley, NY
Certified Feng Shui Expert, Speaker & Researcher

 Colleen, don't ever stop being you i my opinion. You seem to put you clients in perspective! Thank you for being you!

 

Love and light,

Laura

May 12, 2013 11:45 AM
Wayne Johnson
Coldwell Banker D'Ann Harper REALTORS® - San Antonio, TX
San Antonio REALTOR, San Antonio Homes For Sale

Sellers are fortunate to find agents who are persistent and competent when it comes to short sale representation. Congrats to you.

May 12, 2013 11:56 AM
Richard Weisser
Richard Weisser Realty - Newnan, GA
Richard Weisser Retired Real Estate Professional

Colleen...

I think that the government SHOULD care when it's an FHA short sale. But they don't

May 12, 2013 12:37 PM
Christine Donovan
Donovan Blatt Realty - Costa Mesa, CA
Broker/Attorney 714-319-9751 DRE01267479 - Costa M

Colleen - It is so frustrating to deal with the banks some day.  I'd stand right there with you yelling some days though it's just not my style usually.

May 12, 2013 01:08 PM
Karen Anne Stone
New Home Hunters of Fort Worth and Tarrant County - Fort Worth, TX
Fort Worth Real Estate

Colleen:  I am so fortunate that I have not had a Short Sale bump me in the nose in the last three years.  Luckily the Fort Worth area appears to have a lot less of them than most other areas seem to.

But, I like your "Snap Out Of It" phrase.  It also brings to mind the expression of "Oh Snap!" that was in use a few years ago... but quickly faded.

By the way... I have not seen another cute video of you in a very long time.  I still remember the one of you with the bookcase behind you.  I think it had a globe in it, too.  Oh well.  That one made me smile, and I still DO remember it.

Yer not gonna do another one, you say?  Oh Snap!

May 12, 2013 01:20 PM
Sheila Morales
Kauai Property Shop - Kapaa, HI
Your Kauai Hawaii Agent

Some days I think I need a sign that says "Daily Quota of Crazy Exceeded- Enter at your own Risk"

May 12, 2013 01:43 PM
Jordon Wheeler
The Jordon Wheeler Group - Fairburn, GA
J W Group Real Estate Sales and Service

Hi Colleen,

Short sales are challenging and require patience and persistence.  Keep it moving.  Best of GREAT success to you!

May 12, 2013 04:08 PM
Wallace S. Gibson, CPM
Gibson Management Group, Ltd. - Charlottesville, VA
LandlordWhisperer

I was in a CE course on Wednesday and one YOUNG agent had 13 short sale contracts working - YEOW!  and he had NO GREY HAIRS!

May 12, 2013 08:09 PM
Janis Borgueta
Newburgh, NY
Retired RE Salesperson

Shorts sales.. I hate them and I can't wait untile they all disappear and go away. No yelling involved. =)

May 12, 2013 09:02 PM
Richard Iarossi
Coldwell Banker Residential Brokerage - Crofton, MD
Crofton MD Real Estate, Annapolis MD Real Estate

There is no shortage of the aggravation, and the time involved, in processing short sales. As Realtors we have to keep a good sense of humor about the whole process.

Rich

May 12, 2013 09:55 PM
Keith Lawrence
Christie's International - Mahwah, NJ
ABR, SFR

Short Sale are a different kind of animal.  I tried the new FannieMae website for an over valuated short sale property and the new price came in higher than the old one by 12.5%. 

 

Good luck with yours.

May 12, 2013 10:39 PM
Michael Setunsky
Woodbridge, VA
Your Commercial Real Estate Link to Northern VA

Colleen, your persistence and good attitude is what makes the short sale process work for your clients.

May 12, 2013 10:43 PM
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

You had to mention B of A...and get my Real Estate juices flowing...Inept, unfocused and clueless, they continue to bring out the "yell" every time

May 12, 2013 11:33 PM
Fernando Herboso - Associate Broker MD, & VA
Maxus Realty Group of Samson Properties - Clarksburg, MD
301-246-0001 Serving Maryland, DC and Northern VA

Ir reminds me of my little girl and my wife. . .mom and daughter movie times. .she loves Moonlight . .and when she wanted to watch it. .she refer it as the "snap out of it" movie. .

Personally, I'm appreciative to short sales. .they have been our bread and butter in the lean years as we transition to a more normal market. .

May 12, 2013 11:37 PM
Marc McMaster
RE/MAX Centre Realty - State College, PA
Putting my clients before myself

I hear you...it really seems like the policies and procedures are in place to facillitate losing more money for the banks.

May 12, 2013 11:59 PM
Graziella Bruner
NCS Premier Real Estate - Detroit, MI
Associate Broker - Serving Wayne & Oakland County

There's nothing SHORT about Short Sales! It does take patience (lots of it) and just remembering there's a light at the end of the tunnel.  Our goal is to get to light, close the door on that file and on to the next. Each case is different and so are the banks.  Keep up the great work that you're doing Colleen. 

May 13, 2013 12:21 AM
Paul S. Henderson, REALTOR®, CRS
Fathom Realty Washington LLC - Tacoma, WA
South Puget Sound Washington Agent/Broker!

How do you get all that senseless bureaucratic BS off your shoes at night. Don't get me wrong; there are several great overworked, underpaid bank employees who wade through a desk full of folders each day also. The banks never funded the departments because they don't bring in bottom line profits...

May 13, 2013 01:38 AM
Kathy Stoltman
Ventura, CA
RETIRED

After all these years one would think the lenders would have the short sale process streamlined. I know there has been progress, but not enough. Love the sign.

May 13, 2013 07:07 AM
Aaron Hofmann
Atlanta Communities - Smyrna, GA
aka Mr. Smyrna Vinings

Good post. I would love someone to do a film on the whole short sale industry. I think we could bring back the cast from "Office Space". I can imagine them answering calls from Realtors and distraught homeowners and asking them to hold. Then the worker-bees would be spinning a wheel with different lame excuses on it. Wherever it landed, they'd come back on the phone and read off the lame excuse and then accidentally disconnect the caller.

May 14, 2013 06:34 AM
Lisa Friedman
Great American Dream Realty - Essex, VT
35 Years of Real Estate Experience!

Your sign gave me a nice little chuckle - thanks for the laugh :)

May 15, 2013 01:20 AM