Make sure you do your research in selecting an agent to represent you in your short sale. Talk to real estate agents in your market place that have experience representing sellers with short sales. There is short sale training available that short sale agents are taking advantage of. Check with you friends and family to get referrals of successful short sale agents.
Prudential California Realty
It is true that the majority of short sales are handled by an agent that the homeowner picked. But more and more lenders are "suggesting" agents to use.
While there is nothing wrong with a homeowner using the agent the lender suggests - I really question if this would be the best agent to use.
Agents who truly know how to "work" a short sale know that - to really help the homeowner out involves marketing and transaction management that is not always in the best interest of the bank - but the best interest of the seller. The banks have developed a method to maximize their return - which is not often in the sellers best interest.
Most sellers simply want out and want to be forgiven of the mortgage - trying to maximize the bank's bottom line often results in losing the home to foreclosure and the seller gets screwed because the bank wants to market the property at a higher than true market price.
Bottom line - use an agent that specializes in short sales- not the banks recommendation.
So..if you are interested...get certified in shorts and start advertising for listings that will go short...
Tough wat to make a living....but the business is there.