Lets do a poll here
Casting your vote below can be as easy as saying below "We prefer to use outside companies to negotiate our short sales" or "Heck no, we do it ourselves or have an assistant or designated person in the office negotiate them".
Most of you know my personal stance for The Short Sale Specialist Network, and that we require all of OUR referrals to be worked in house, but MOST of the people on this forum do NOT receive listing assignments from us! I want to hear what YOU prefer to do with you short sale files, and for agents who DO receive listings from us, what do you do with your other files??
***Update 9/1/11 - I was at the REO Expo in Dallas a few months ago. An agent asked a panel this same question. I watched David Sunlin (Loss Mit Pres. for BOA) say "An agent should NEVER, EVER use a 3rd party company to negotiate their short sales". I then watched the head of Loss Mit for CITI and the department head for Freddie Mac who were sitting next to him both shake firmly their heads YES in agreement. Regardless of what the 3rd party negotiation companies say, or what would now appear to be only a small percentage of agents say, 3rd party negotiations aren't needed or wanted in the transactions.
Here are some video testimonials for our Short Sale Lead Machine websites from just a few of the agents who are utilizing them! More coming soon...
Mine aren't as involved in that Chuck, but it would be wonderful if they were!
ooh a law firm.... I assure you the attorney is not making phone calls, sitting on hold, and dealing with the less than intelligent people at the bank. He has some admin calling. I look at it this way, an experienced 3rd party negotiator is great as long as they have a proven track record and E&O Insurance for at least a million dollars. The companies that I represent (which I do not mention as I am not advertising because we all know Mike's stance on 3rd Party Negotiators) have closed over 1500 short sales nationwide without a single complaint. We always advise the client to take the approval letter to an attorney and a tax accountant so they know EXACTLY what the ramifications/benefits of the short sale are. Most of my agents are top agents with their companies and just do not have the time to handle this. The agents who think they can do their own should probably be listing and selling more homes so they would not have the time to do the negotiations and processing.... But.. this forum is what makes America great!!!!!!
My guys use paralegals on the phone work, documentation, and seller contact. They are terrific.
Against ALL advertising on here... Tried partnering with someone recently to allow them to advertise on here but they stabbed me in the back and didn't return the favor...
I do them all myself and provide Short Sale Management for several Realtors. I prefer to know what is happening with all the files. I also have an assistant that helps me.
My GENERAL observation: if YOU don't know how to do a short sale, a 3rd party processor is going to have a harder time on that file, unless maybe THEY will train the RE agent? I don't think they are paid enough for that.
I never let anyone negotiate my short sales. But this is a catch 22 question. If you have the experience, then negotiate your short sales...and how do you GET the experience??? By getting good at negotiating your short sales, over and over again. Practice makes perfect. And yet, it's scary to think of tons of agents doing short sales that don't have the experience or know how...but everyone has to start somewhere. There are SOME good negotiators...I'm not going to knock all of them. I think you need to see what works for you. But in general, I think, as a realtor, and in a market of 50% or more short sales...You better get cracking at negotiating short sales and start to get really good at it.
Sheyenne clearly has control issues. I only recognize them because.. I'm trying to reform my own. :)
Frankly, once you understand the process, pushing paper is no agent's highest and best use of their time. Delegate, oversee, be there for to address issues and resolve questions. If the agent did everything else right, 'negotiating' shouldn't be an issue or a problem.
And then there is that absolutely crazy idea I know: no matter how great I am, just maybe there is someone who is better at it than I? Find them, then let them at it.
PS- and practice doesn't make perfect. Prefect practice makes perfect.