Bellevue WA â€“Â We see a lot of agentâ€™s going about escalating a file the wrong way.Â It reminds me of the appeals process game in death row.
Everyone has to go through the appeals process. It drags on for years and years. After a while it simply becomes a game. I donâ€™t want to see short sale escalation turn into a â€œgame.â€
Treat the Short Sale Escalation Process like a sales process. Donâ€™t treat it like just another technical process that you do for no reason.
Donâ€™t just escalate the file â€œbecause you felt like it.â€Â The reason you escalate a file is because the lender is making a bad decision turning down the offer.
You feel, based on your superior knowledge of the property and the local housing market, that they will lose more money thru foreclosure.
And you are moving the file up the chain to make sure they donâ€™t lose even more money. When you escalate a file, make sure you tell everyone that they are going to lose money if they donâ€™t accept the offer.
Tell them, â€œBased on my projections, you will net 180k with this offer and 163k after foreclosure.â€Â Give them documentation to back that up.
Here are a few examples of documentation we send to them.Â ClickÂ HEREÂ to continue reading.