Replies to This Discussion

Permalink Reply by Tiffany Alleshouse on January 6, 2010 at 6:32am

Hi there!

I'm working on an Everhome Short-sale that has been outsourced to National Quicksale. They are charging $500 out of a 6% agent commission. Who is your negotiator at National Quick Sale? Maybe I can help you :)

Permalink Reply by Theresa Prim on January 6, 2010 at 6:56am

Yes, we had a short going with Everhome as the 1st, and BOA as a 2nd. Almost negotiated, waiting to hear what everhome will offer BOA, and they switched up and said we would hear from another company and had to sign a paper agreeing to pay 1% of our commission to this company. I'm not sure of theie name, as I hand my shorts off to another agent in my office who works them, but basically, they started the who thing over....check stubs, w'2's yada yada. the sellers were so confused. Everhome was spinning in circles, and we still dont have it closed.

Seems as though some lenders aren't qualified to handle the shorts and are now OUTSOURCING THEM TO SHORT NEGOTIATORS, AT OUR COST. Short negotiators then have to go back through the same process we did. Again, like I said in my other post, the lenders feel as though we do not know what we are doing to get them the best price with qualified buyers.

All I am trying to do is to keep property values up in my area, and not have a vacant home.

Permalink Reply by Kymberly Wright on January 14, 2010 at 11:59am

My name is Kymberly Wright and I am an agent in San Diego. I have been working with NQS almost from their onset. They are a technologically based company. The founder, Rich Rollins, is one of the gentlemen responsible for the servicing platform that 40% of all loans are currently loaded. He saw the short sale "wave" coming many years back and realized the potential for technology to integrate into this arena of transactions to cut the time down close to a normal real estate transaction. I started with NQS by bringing them my own short sales. Generally I offer 2.5% to the selling agent and I receive 2.5% (the total of 1%, plus $250 tech fee goes to NQS) You can split the tech fee, but I usually just pay from my own end. The staff there works very well and in many cases with faster results. They also pass listings to me, if they are assigned a listing in my area from a servicer (similar to REO market). The company has been growing quite steadily over the past two years and there are more and more servicers utilizing their services. They are very good at working with Realtors and doing all of the paperwork that I never have time for anymore. They are all computer based so I can track my packages and keep the selling agent up to date at all times. I do know that it would be very disconcerting to take a listing and suddenly have this company thrown into your lap... I came in with my own listings and chose to pay them. Banks and institutions prefer to work with large entities that can handle large volume and with NQS, delegate authority to accept offers. This will make huge strides in the short sale market. My last short sale took two weeks to get an approval and escrow was set to close in less then 60 days from my original listing date. Yes, was, buyer ended up walking but they are already on the new offer. I have had the pleasure of meeting the NQS team at the Realtor and MBA conference in San Diego this past winter. They are a great team and have some amazing minds working on making our jobs easier. Unfortuneately all must be paid, so with change and growth comes the negative side.

If you have any questions you are welcome to contact me through Active Rain.

Kym Wright

Permalink Reply by Sally K. & David L. Hanson on January 24, 2010 at 3:23am

Agree with Wendy...I would go "right to the source and ask the horse and they will give you the answer if they did endorse" :)

Permalink Reply by Barbara A. Hill on March 2, 2010 at 11:15am

Yes I am working on a file now that I was told I must work through them. The Lender is Everhome. They have outsourced the process to them apparently. The people I have spoken to their have been very helpful however no on mentioned that they take 1% or $1500 from the deal. This Short Sale is so small it would be working for FREE. So, I guess that one will bite the dust. Thanks for all the great info regarding National Quick Sale. I am going to call them back and if I learn anything else I will let you all know.
Barbara

Permalink Reply by CEDRIC MCGREW on March 18, 2010 at 2:53pm

yea they were at the five star short sale summit and the they didn't say anything about being fannie and freddie go to company and they didn't say anything about the $1500.00 I have to go back over there info

Permalink Reply by Craig Barry on May 19, 2010 at 5:03am

Yes, There are the real deal. One of the partner's was a lobbyist or had lobby connections that I was introduced to for an association I am doing consulting to modify HAFA Guidelines. NQS was an advisor in a significant capacity in Round 1 of setting HAFA agenda but they are otherwise legit players based on due diligence I have conducted for interested 3rd parties. Good Luck- Craig

Permalink Reply by Claudia Carignan on July 6, 2010 at 12:51pm

Yes I have but have never worked with them.

Permalink Reply by Katerina Gasset on July 15, 2010 at 8:06pm

Just had our first experience with them. We had an acceptance letter from the lender. Everything ready to go. At the last minute NQS steps in to say that we have to give them 1% of our commission and they just came out of the blue. They say they are now this lender outsourced their short sale files to them. Well, that was not told to us, we have an approved HUD and we told them they will need to get their 1% from the lender. We nor the sellers hired them.

Permalink Reply by Bryant Tutas on July 16, 2010 at 3:34am

Here's the email I just received from forreclosure dot com related to QuickSale. This may help.

Homeowners that fall under those categories, are on contacted on our behalf ( close to 25,000 per month) and are directed to choose their listing agent from the broker network.

Our Broker Network is comprised of over 17,000 real estate professionals across the country who possess varying degrees of aptitude in the HAFA process. Our goal is to bolster that network with individuals who possess specific knowledge and skill sets to effectively work with QuickSale in the disposition of these residential units. It is important to note that these are Borrowers who have already been vetted through the HAMP loan modification process and have failed out for one reason or another.

The “sizzle” to these files is that they are pre-approved for immediate sale. That is, junior liens have been cleared and they are priced right. The CSSA training we are offering will cover four aspects of the Short Sale process.

1. Fundamentals of Short Sales

2. Understanding HAFA

3. Short Sale Automation (followed up by system training on QuickSale)

4. Taking HAFA to the local market (We assist CSSAs in reaching out to their local market to identify listing opportunities where the primary lien holder is one of our servicer clients)

With over 25,000 files coming in every month we want to build critical mass with our designees. Failed HAMP files go through a 45 day gestation period between solicitation and eligibility, so now is the time to get rolling.

The cost of joining the broker network and be eligible to receive those listings is $250 per year.

Permalink Reply by Minna Reid on July 16, 2010 at 3:35am

I am having a problem with National Quick Sale also. I just blogged about it yesterday matter of fact, but I am not sure what to do at this point and am looking for ideas.
A short sale I was working with Bank United got moved the NQS and they are demanding I reroute 1% of my commissions ($4700) to them. I am trying to get the file moved back to Bank United, but bank United says NQS now handles all their non owner occupant files and is not interested in helping me.
I am not sure how this company can legally squeeze a commission out of this deal, since they are not a party to the sale, nor were they hired by me or my sellers.
Does anyone have any ideas to fight this?

Permalink Reply by Jeffrey Thomas Lawrence on July 16, 2010 at 6:17am

Yesterday I was informed that I have to deal with this outfit as Bank United has assigned all of their short sales to them. I have just started to upload the necessary documents to them and happened along this forum which informed me of the fact that they may be looking for a piece of my commission! I have worked this deal for almost two years through an inept system and group of folks at Bank United to find that I now have to share a commission with a third party... well, we will have to see about that!

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