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Real Estate Agent with Keller Williams Realty BRE# 01490574

Anybody out there frustrated with the time it takes to get a response from the bank on Short Sales?  I know, silly question.  Today after umpteen minutes waiting on HOLD with the bank, my own phone told me it had put me on hold.  What the!!!  Grr was my first thought but my mood changed when I called again and after only 10 minutes (what have we come to when 10 minutes on hold seems short) of waiting on the second call a man answered and identified himself by name.  "Wow," I said, "You're just the person I need to speak to."  He was a little apprehensive with that opening... but asked how he could help.  I explained I had sent an offer in 2 months earlier and it seemed that nothing was happening.  He asked me to wait on hold for a while longer and returned to say that everything he needed was in the file (I knew that!) and that he had ordered not one but 2 BPOs (while I was on hold) so it should be ready to assign to a negotiator next week when the BPOs are submitted.  Now, how hard was that and it took less than 10 minutes on his part. 

Oh, he also said that he has been spending 8-9 hours a day with incoming calls.  So, here's my question?  Is someone asleep at the switch???  Why in the world are they having all of these people answer the phones instead of working on the files.  We wouldn't be calling and wasting our time on hold and their time on the phone if the short sales were progressing and we knew what was going on.  I would be willing to have phone lines only open two days a week if they would spend the other three working on the files.  They could choose to cc us on their notes to the file and just call us when they want to negotiate the nitty gritty.  Or they could use one of the programs that lets both sides log in and see what's happening.  I'm sure there are a lot more ideas out there, but please DON'T WASTE YOUR TIME ON THE PHONES GUYS.


Posted by

Nancy McNamee lists and sells property in Granite Bay, Roseville, Rocklin, Loomis and Lincoln as well as other Placer County locations.  She loves to help First Time Home Buyers by educating them about this ever changing real estate market.  Her experience with Bank Owned Homes and Short Sales as well as "regular sales" will help you as she negotiates on your behalf.  Since she has lived in the area for over 30 years she can help guide newcomers to the area that will best meet their needs.  Call Nancy at 916.708.4973 and put her experience to work for you.  CA DRE #01490574

Mark Hall
Realty One Group Cascadia - Vancouver, WA
Homes for Sale Vancouver Washington

I couldn't agree more. There is this neat little tool called the internet that might help them unclog the bottlenecks and speed things along. Maybe they could use some bailout money to upgrade... oh yeah... they already used the bailout money!

Sep 25, 2009 10:24 AM
Rosalinda Morgan
Brookville, NY
"The Rose Lady"

Nancy - I was told by my negotiator the best way to get a reply is through email.  I never called her.  I emailed her and I got an answer almost immediately. 

Sep 25, 2009 10:44 AM
Elite Home Sales Team
Elite Home Sales Team OC - Corona del Mar, CA
A Tenacious and Skilled Real Estate Team

I have the displeasure of working over 20 Countrywide or Bank of America Short Sales they are the worst and they do not answer phones.  They just can't seem to get anything done or make a decision.  Some of my Countrywide short sales have taken over a year and a half.  Because after 4 to 6 months the buyer walks and even if we get a new buyer we have to back to the begining and start over.  We have had them approved and got a better offer after the buyers walked away and submitted the new offer to the bank and it goes back to square one.  4 to 6 months later the buyer walks and we get a matching offer and they tell us to back to square one.

Sep 25, 2009 10:44 AM
Rob E. Kirchner
Ferrari-Lund Real Estate - Reno, NV
Reno Real Estate Expert

WAMU has been excellent in using email once it hit the negotiators desk.

Sep 28, 2009 05:42 AM