Home Buying in Lakewood>Question Details

Dudley Parson, Home Buyer in 98499

Does anyone know anything about Keller Williams going against the NWMLS on short sales?

Asked by Dudley Parson, 98499 Sat Apr 12, 2008

Help the community by answering this question:


I am also a Keller Williams Agent with the Olympia market center. Ditto on compliancy and the Keller Williams Real Estate University offers one of the best in training courses in North America!

It's best to speak with our Broker because she is very knowledgeable on the short sale. She recently founded a new group called "SUDS" (Strategic Unified Diverse Services) helping sellers get back in control with Short Sales, Quick Sale, Loss mitigation, and Foreclosure Avoidance.

Let me know if you need assistance in contacting her.
Regards, Elaine Gibney, Realtor
1 vote Thank Flag Link Sat Apr 19, 2008

As an active Realtor with Keller Williams Tacoma and a Team owner I can tell you that nothing could be further from the truth. In fact, it is the culture of our company to comply and even to seek out the best win-win scenario for our customers, clients and business partners.

The NWMLS actually just created a new short sale addendum which should help all agents to properly disclose to potential buyers and sellers the terms and risks involved in buying and selling a shortsale. They have also created a new rule which explains how to properly manage a listing that is, or will result in a shortsale.

Hope that clears the confusion

1 vote Thank Flag Link Fri Apr 18, 2008
I am NOT a KW agent so I can only surmise based upon general information now out in the industry. There are new NWMLS forms relating to short sales. They have some faults... perhaps what you are thinking of is KW designing their own form. However there is also a new Washington State Law that goes into effect 6/12/08. It will vastly change how short sales and "distressed" properties are handeled and marketed. In fact because of being very poorly written and because of penalites and issues with conflicts between agency and feduciary requirements I know of some agencies that thinking of not doing Short Sales, or pre foreclosure sales all to gether. Perhaps this is what you may hae heard early discussions about.
0 votes Thank Flag Link Wed May 21, 2008
As a Keller Williams Olympia agent, that happens to be right in the middle of quite a few short sales, I'm curious as to your use of "going against". As stated by the previous KW partners, KW doesn't "go against" ANYTHING that I know of. It's not part of the culture. WIN - WIN for ALL parties involved, or no deal. Linda Carroll said, in her answer, that there is a "bigger answer", but I believe there is a bigger question. If, at anytime, you would like to discuss your thoughts, I'm ALWAYS available. Call Me.
0 votes Thank Flag Link Wed Apr 23, 2008
There's a bigger answer here.

Short sales were fairly rare until recently, and certain agents made a niche out of it. Now, our entire industry--agents, banks, lenders--have been flooded with short sales, reo's, and foreclosures.

So agents and lenders who never worked with these before are faced with stacks of these things that they never saw before! This is happening all over.

Good agents will learn and adapt, and continue to give their clients the best information and service. Hopefully, the less than great agents will not be able to cope with the change in market, and they will drop out.

I have attended classes at our Olympia Keller Williams, and they always promote good service and upright prictices. (Isn't that right, Elaine?)

Of course, I like my brokerage--EXIT Northwest--and my broker knows short sales upside down & backwards. He used to work in the mortgage industry and negotiated short sales from every postion--lending, selling, buying.

Drop me a line? I'm happy to help out.
0 votes Thank Flag Link Sat Apr 19, 2008
Haven't heard a thing...do you mean they presumably are writing their own process for short sales?
0 votes Thank Flag Link Sat Apr 12, 2008
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