I was talking with another agent from Scottsdale yesterday and we were talking about some of the problems we are seeing with short sales right now. We ended up talking about my videos and short sale training in general. One thing we both agreed on is is you need to be cautions of advice on the web.
If you are selling your house or an agent looking for tips this site and other sites which give advice on short sales can be a great resource. At the same time, there are great dangers. Things on the Internet live around forever. A post I wrote or a video I did about Fannie Mae or Bank of America 6 months or a year ago may no longer be relevant at all.
The short sale scene and the dynamics of the deal are always changing. Advice about how to overcome a promissory note or about getting an extension on a foreclosure date on a Fannie Mae property a year ago would get you no where today. Advice on how to escalate within Bank of America a year ago may not be relevant to how we do it today.
If you are taking advice from a video or blog post take it with a grain of salt. Just because something works for one agent does not mean it will work for you too. And if it is advice from more than a few months back, it may not be good advice today. That is one of the important things about short sales. It is a lot harder to take a short sale transaction now and then as a listing agent than it is to be in them every day. When you are in them ever day you see changes as they happen and can make quick adjustments.
The forms we include in our short sale package change on a regular basis and we now have different packages for different banks. If you are doing a Chase short sale you will not receive the same package from us as if you were doing a Bank of America short sale.
So remember, be cautious and if you are looking for a short sale agent make sure it is someone who is staying active in short sales on a daily basis.