Short Sale Processing Companies – A Bad Idea?
I am constantly running into people who either use or want ME to use a short sale processing company. There are many of them out there and so far I haven’t found one that’s worthy.
At AzHomeHelp.com we do all of our short sale processing in-house.
Why?
One, because of the extra expenses in an already slim deal.
Two, because I’d rather have control over the process.
Three, and this is the most important one, because I feel that short sale processing can only be done correctly by people who have a ventured interest in the client. I just don’t feel that a third party has my client’s best interest in mind.
A short sale processing company usually charges an agent or investor an upfront fee. They then charge a certain percentage of the total sale amount of the home at closing. With banks negotiating already slim commissions down even further and considering all of the work involved in doing a short sale (easily 4-5 times the amount of work of a traditional real estate sale) that’s a big chunk of change.
The biggest issue at hand though is “Where do the priorities of a short sale processing company lie?”
Not to say they are being unethical but who has my client’s best interest in mind? Some company that has never met my client, never talked to them, never seen their home, never sat down with them, and is only doing the deal to collect a paycheck?
Or an agent who has spent time working with and talking to the client, helping the client with paperwork, explaining the process, pitfalls & perils of a short sale, the advantages of a short sale, the disadvantages of a short sale, marketing the property, showing the property, and negotiating with the bank with the CLIENTS BEST INTEREST IN MIND WITHOUT REGARD TO A COMMISSION….not to mention an agent that would like a client for life, future referrals, and the opportunity to help the client down the road with all of their real estate needs.
If any short sale processing company out there disagrees with me then I welcome their comments. I just have yet to find a company that has convinced me that I should turn over a client’s file to them as they are working in my client’s best interest. If that can be proven then I may someday reconsider but until then, be assured that my client’s confidentiality and privacy remain paramount with us and we will diligently work to market & process your short sale with your best interests at hand.
For more information on the Arizona Short Sale process please visit our website at http://www.AzHomeHelp.com
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