Recently I have had to step into another transaction. Not an easy one..one going on for sometime. Short sales, why does it take so darn long? I'll tell you why, its just my opinion and pertains to many banks!
Banks need to take this situation a bit more serious from the Executives all the way down the chain! You see when you call a bank and the best advice to give you is call and check on it tomorrow, you have to wonder are they a bank trying to prevent foreclosure or are their methods similar to the stereotype of this famous old saying, I work banker's hours or you have banker's hours! Get it..rather than expand your operation and create temporary jobs..why don't you get a little more efficient. You have to know a few things about real estate professionals:
- We don't sell a house we don't eat!
- If you tell us to call back in a couple of hours or the next day, its a given we'll call back.
- Time lines are extremely important to sales contracts and all agreements, if you tell a specific time period in which to expect an answer and if you have procedures to follow we expect our answers as promised.. we expect to get the answers we deserve..we expect to get the answers within a reasonable period of time.
I know banks have a difficult job today and its very stressful..that's what happens when you get into the business..the business of holding real estate. Give our business back to us and maybe just maybe the housing market might improve. That means..tighten up your procedures..be more efficient..don't let just anyone or everyone become a short specialist and most of all just like contract guidelines...have some then try a little harder live up to them. Otherwise..you'll be nothing more than telemarketing!
www.DaytonaRealEstateTraining.com
Undergoing MyBlogLog Verification
Midori,
You are not alone, many agents I have interviewed over the past week have expressed this same concern about the banks and the loooonnnngggg short sale cycle. Hang In:-)
LOL...your break didn't last long :) Welcome back.
That said I find working with the banks totally frustrating!
Hey Midori - I'm impressed. You did one of those 2-day rehabs, just like the Hollywood set!! ;-)
Glad to see you're still blogging.
OK when i saw your picture at the top I knew you were going to get some slack about it. But I agree with you, every time I call the bank they have some thing other than what I want to hear, everyday its something else. And I am talking about everyday calls and it still doesn't get them moving!!!
Gee, that was a short rehab! You missed us, didn't you? or is it too hard to break the activerain addiction?
Regardless, glad your stay was short, you add so much to this community!
LOL LOL...Ok. I was posting on the outside blog and it shows up here on the network..still trying to find out if it automatically goes to the network and how did you guys find it. It did not show up on the dashboard at least I don't think so.
Still in Rehab.
Midori,
The reason it takes so long with the banks is that your aren't dealing with the lender any longer. You are dealing with the accountant. There is a real difference in mindset. When you are working with the lending department, they understand urgency. When you are dealing with bean counters, there is no such thing as urgency. Enjoy (?) rehab.
Time is critical. You would think the banks would have the same sense of urgency!
Midori~I am moaning and groaning right now about this whole bank's taking months to respond to the Sellers (or worse yet, to a qualified Buyer) who is ready, willing and able to close. I agree, they need to become more efficient and more customer friendly...if not, the Real Estate community will start turning their heads and sharing their bad experiences with their clients and the banks will have thousands more foreclosures to process.
Looks like you need a second trip to A|R rehab...at least you've accomplished step 1: admitting you have a problem :)