A Strategy for Dealing with a Short Sale Negotiator Bully

I don’t like bullies. You know, people who think they can throw around their weight and make you do what they want. Maybe that’s why I’m in real estate and not slaving away for a large corporation or, worse, the government.

It just seems lately that the world has too many bullies in it. The thing about bullies is they often aren’t very bright. And sometimes they respond better when you deal with them on a primal level, employing a strategy my mother used to call kick ‘em where it hurts. But when I see a person bullying another, my instincts are to step in and help, even though I know I should let people fight their own battles. I am not a white knight agent, nor do I want to be.

However, nary a week goes by when I don’t hear the words: “And if you don’t (do whatever), I will close the file.” You know what? Sometimes, it’s a good idea to let the bank’s short sale negotiator close the file. Because the parties to the transaction might get a better offer and better treatment from the next negotiator who reopens the file.

I closed a short sale earlier this year that had been dragging on for almost 18 months. It was one of those older Bank of America short sales. I sold that home probably 3 or 4 times. And each short sale approval letter was different. The first letter called for a seller contribution. The second, a promissory note. By the time we got to the third or fourth approval letter, the bank didn’t demand anything.

As long as the seller and the buyer are willing to wait out another 30 to 60 days, it can be beneficial to all parties to let an unreasonable negotiator close out the file and then start over. I’m presently using this strategy in several Sacramento short sales. It’s worked in the past. When I find something that works, I keep doing it.

Photo: Big Stock Photo

Tags: bank of america short sales, bullies, sacramento short sales, seller contribution, short sale, short sale negotiator, white knight agent