learn short sales
You will also hear companies try to sell you on the fact that they have ex bank negotiators on their team that handle their negotiations and lead you to believe that their program is superior to other programs. While this may be well and true, it doesn't attest to the quality of the program.
You need to find a company that has a very simple submission process that is very customer friendly. Lets be honest, there is no need for a Broker, Investor, or Agent to be confused with the submission paperwork. After all, aren't they outsourcing the service to eliminate the headache. Many companies out there make their contracts and submission process so ridiculous that the client gets discouraged before the process even starts.
3. A company that has built their program to be customer friendly and not overly complicated.
If you have been in this industry more than a day, you will know that each bank has their own separate Standard Operating Procedure, and that no two work alike internally. I am from the old school where I believe it is hard to teach a old dog new tricks. It is much more difficult to train an ex bank negotiator on your system than it is to train a customer service agent on your system. Think about what we all do when we come under pressure. We revert to what we know best, our old habits. If you don't have any old habits, you revert to the system. Thus the customer service agent will revert to the only system they know.
Negotiation companies are a dime a dozen in the industry. Being an investor that has specialized in short sales for the past few years, I would definitely recommend that you go with a company that is actually in the business, and not just a by product of the business. Not only will they be up to date on the cutting edge tips and techniques, but they can act as coaches/mentors and be a free source for real estate knowledge.
When searching for a Great Short Sale Negotiation Company, you must not get swayed by the hype and rhetoric they try to sell you on. Below, we have created a list of things you should look for when choosing the right company.
In the industry, you will see many negotiation companies that make the claim that you should not work with a company that has an investment leg because they become your competition and will steal your deals. First of all, their is more opportunity and inventory now then their ever has been. Second, a company that engaged in such practices would not only be unethical, but they would not exist for very long.
4. A company that has based their service around serving the customer and prides itself on customer service.
Most companies try to sell you on the FEAR FACTOR. They speak about how bad other companies are rather than how good their company is.
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To a Prosperous 2009!
If you are active in the Real Estate Community and frequent different forums, seminars, and other avenues, you will see that the biggest complaint people have with negotiation companies is the lack of customer service and deal tracking. Make sure you find a company that has an online tracking system and gets back to within 24 hours. If they don't have the ability to say yes to both of those, then move on. You will be glad you avoided the headache.
1. A company dedicated to short sales and not loan modifications, postponements, etc.
I say this for the following reason. You need a company with negotiators that specialize in one area. Loan modifications and postponements are indeed similar, but the strategies and techniques within each are very different. A short sale negotiator and loan modification specialists are two different animals and should be versed in one or the other.
2. A company that has a proven track record and doesn't try to sell you on hype.
I know times are hard right now, but there really hasn't been a better time, in our lifetimes, to take advantage of this opportunity. Right now, there is less competition in Real Estate Industry than we will ever see again. WHY? Because it is not automatic anymore? We are forced to learn new skills and strategies to stay above the competition. Those that adapt shall overcome. Those that don't, will move into new fields and miss out on the opportunity of a lifetime.
Remember, their are people paying $20K+ to be a part of short sale coaching programs across the nation. Why not take advantage of that with the resources you already have at hand.
Real Estate Brokers, Agents, and Investors, this article is for YOU!
It is my belief that a well trained customer service agent makes a much better short sale company negotiator than an ex bank negotiator.
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