Their talk is good but their results don’t measure up! Here’s the sales pitch for using a loss mitigation company to handle your negotiations:
“Effectively negotiating a Short Sale requires knowledge, skill, and is very time consuming. As a real estate agent or investor, our service allows you to use your time wisely and not spend hours upon hours on the phone communicating with the mortgage companies. By becoming a member of our Short Sale Negotiation Program, we will negotiate all of your Short Sales.
Pay a one time Membership Fee and we negotiate Short Sales without receiving compensation unless we are successful! Our Short Sale Negotiation Program is excellent for a single investor or a group of investors.”
We have yet to see ANY of short sale negotiation companies produce consistent results. Worse, the companies suck you in with a nice promise and make their profit up front with a membership fee and may only charge additional fees if they are successful. Be sure you have them define exactly what successful is.
Short Sale Negotiation Company Horror Story
A very good friend and successful investor contracted one of the big name short sale negotiation companies to handle his short sales. He turned over several of his short sales and when things were going nowhere he inquired to find out what was going on.
The answer he received is shocking. “We can’t negotiate your short sale because your offer is too low and we don’t want to ruin our relationship with the lender by playing hardball.”
This is wrong on many levels. 1) The company is contracted to negotiate your short sales, not to set your short sale parameters. 2) A homeowner has entrusted you to put forth your best effort and procure a short sale. The short sale company has done nothing except possibly aid in the ruining of the homeowner’s credit. 3) The short sale company made the investor look bad because they did nothing.
Why Short Sale Negotiation Companies Don’t Work
Awhile back I was offered the contract to negotiate short sales nationwide for a major national franchise. I turned the offer down on the spot! Why? Because to negotiate short sales in mass would require staffing a company and I know it is not feasible to put together a short sale mitigation team to do deals in mass and maintain a high success rate. My quality I can ensure. But when you are dealing with people you have people/employee problems and quality control becomes an immediate issue.
If you reason through the process you’ll see why no company and negotiate short sales in mass with a high success rate. Fortunately you have this website to guide you and you can control the quality of what you do.
The solution is to get a system that does the all the work for you and can complete the paperwork in minutes not hours. You don’t want to spend hours on a single short sale package and you definitely do not want to pay a short sale negotiation company. This is where you can UPGRADE your Super Smart Website package and add in the ” DEED FLOW ” Module.