Why "Experienced Short Sale" Realtors Should Process Their Own Files.

By
Real Estate Agent with Keller Williams Realty 0590712

Recently on Short Sales Super Stars someone wrote a blog making a blanket statement about why Realtors should not handle short sales.  I SAW RED, and here was my response.  Your comments are appreciated: 

For the most part I would agree with you that most Realtors should not handle their own short sales, however, that is for the most part. Many Realtors are taking short sales and, quite frankly, don't know anything about them. They are dangerous to their clients and can easily lead them down the road to foreclosure. I have seen this many times. Then there are Realtors like myself. I invested the time and money and traveled across the country to earn my credentials. I have read the HAFA/HAMP manual several times and keep up with the day to day changes and so has my staff. I find almost none of the third party negotiators have taken the time to get a single certification or attended any conferences. It is at these conferences I have met some key people and have proprietary numbers that are used only as a last resort. I was one of the first to earn my CDPE designation and then became REOMac certified (now Equator), CSSA and NASSPro. I spent month researching and writing the, Foreclosure Wars White Paper, The 33 Point Streamline Short Sale Plan, The Want Us Fail, Their Fingerprints are all over the corpses, and many more. Due to my extensive short sale work I have been in newspaper stories in USA Today, Miami Herald, Palm Beach Post Times, Sun Sentinel and interviewed by NPR. I have been asked to serve as a short sale panelist on the National, regional and local levels. I often hear to clients by lawyers, and I have lawyers call me with questions. I can accurately answer 99% of questions posed and will find the answer to the 1% I don't have the answer for. As a Realtor who handles too many short sales I am in a unique position to be in control of the entire process from qualifying the client, marketing the home at the right price, qualifying the buyer and their lender, negotiating contracts that will close. If we have a problem with appraisals we are in a position of dealing directly with the lender to depute the appraisal, if the lender seeks a deficiency we know the financial situation better than the third party to mitigate the deficiency. And, most importantly the seller, the lender, the buyer's agent are dealing directly with the principle players and not a middle man. My team and I have over 400 approvals and we have never failed to get a short sale approved whether we are negotiating with the lender(s), MI companies, HOA's and condo association, service release companies, default attorney's and even on occasion directly with Freddie. I have tried a few third party companies, owned by lawyers, and two did a great job and two failed to the point I took back one file and closed the other was my only foreclosure. Another important reason we handle our own is outstanding client contact. My staff and I have meetings three and sometimes four times a week and discuss every file. My clients, buyer's agents and buyers can call me day and night and I can give them an accurate update as I don't have to call the third party and wait for an answer. My files are all in drop boxes and every file has a conversation log. I can access the drop box from anywhere in the World if the answer is not at my fingertips. Usually third parties have people with little negotiation skills or contacts at the lenders which include proprietary emails and phone numbers when a file is stalled or declined. Most third party staffs work 9-5 and don't have the driving force to not let a single client's home go into foreclosure. My past and current short sale clients include a CPA. three lawyers, five doctors, three Federal agents, two military officers, two developers, two police officers, five teachers and the list goes on. Almost all my clients get a full waiver of deficiency and those that don't are very pleased with how little we settle for with a full release of deficiency. The payback is my clients love us, feel we have saved them from financial ruin and 99% of my business comes from my clients who can recommend us with 100% confidence

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Rainer
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Edward Goldfarb 450 Short Sale Approvals - 1750 Sales

www.GoldfarbForCongress.com
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