Short Sale Tips

When I first started this business, I spent hours on the phone talking to or attempting to talk to loss mitigators. As we all know, trying to reaching them can be a chore.

I remember calling and calling and in some cases never getting through. I would get really nervous because sale dates were approaching and I was still attempting to reach the “right” person.

When Ashlee came to work for me, she suffered through the same thing. She would make numerous calls to the point of frustration having never reached the loss mitigator. She saw homes sell on the courthouse steps because she never reached the right person.

While loss mitigators have caller ID and they use it to their advantage like some terrorists use explosives to promote their own cause. There are in fact ways to combat what they do.

Most loss mitigators, when they don’t answer, will indicate through their message, “leaving more than one message will delay my response to you.” Personally, I think it’s a load! Again, they use this as a tool to prevent interruptions.

So there are several ways to attempt to get through to the loss mitigator. You should leave just one message as indicated. But that DOES NOT mean you should only call once. How many calls should you make? As many as necessary without leaving a message. Again, leaving more than one message ticks them off.

Here are several ways to fight back against the establishment. First, never call from the same number. If you have multiple lines, use them. If you are using a cell phone to conduct business, use a land line to attempt to get through to the loss mitigator. Here’s something else to consider….use the *67 function on your cell phone or land line. Using this function, it prevents the person you are calling from seeing the number and identity of the caller. Loss mitigators will, in most cases, answer.

So here’s what NOT to do when you finally get the loss mitigator on the phone. DO NOT began yelling at the loss mitigator. Yelling gets you a dead deal. A dead deal means no profit. No profit means no vacation. No vacation means you are emailing and faxing me telling me “this doesn’t work.”

So pay close attention here.

When you get the loss mitigator on the phone, simply act as though you just talked to them yesterday. Never let them see you sweat. Never remind them you have called 100 times in two days. I listened to a call with one student who literally kept throwing things in the loss mitigator’s face the fact he faxed over an offer on three different occasions. While the student was right in what he was saying and he clearly documented in his file what he had done, the loss mitigator was in control.

At my events, I play an audio recording of a conversation I had with a loss mitigator who was clearly a liar. While the situation I called the loss mitigator on clearly shows him to be deceitful, I lost the deal anyway.

Remember, never let them see you sweat. Be firm in what you want if you are up against a sale date and you’re talking to them for the first time. Just don’t flip out!