As a Realtor (and a CPA), I used to negotiate all my own short sales, and had an almost 100% success rate. About 2 years ago, I started using a 3rd party negotiator - a local law firm. My success rate has dropped significantly, in fact, lost 4 transactions yesterday because homes have been referred to Master in Equity for auction. We have had offers on these homes for a few months, documents have been submitted, and no negotiator assigned.
My frustration is that I NEVER hear from the 3rd party negotiator unless I call or email them. Frequently, I feel like I get stonewalled, or excuses. I believe in reality that the firm's two negotiators are overwhelmed with the workload, and have inadequate resources to keep up with them. Further, they are employees, who get paid regardless of whether or not the transaction closes, so are not NEARLY as motivated as either myself or my clients to get these transactions moving.
I think I can be more successful at negotiating / closing short sale transactions, but as a Realtor, I do not get paid for the time involved. But likewise, can not afford to keep spending time marketing short sale properties, negotiating offers, and having them fall through, unclosed.
Any one else facing the same dilemma? Any ideas, comments, suggestions?
Good point Joseph Alfe... my thought is that if you are not happy with the third party negotiator, you need to find a better group of friends :) There are some really great 3rd party negotiators as there are some really great agents, problem is that the bad tend to outnumber the good (in both categories) so it is very important to do your due diligence.....