TG Gallaudet
By TG Gallaudet
Wait…I’m totally lying. Is there anything more painful? 
It’s no mystery that short sales can be really tough because of all the variables involved:
* Unclear timelines from the bank.
* Undisclosed liens.
* Back HOA expenses the bank won’t pay.
* Non-straightforward buyer.
* Inexperienced listing agent.
* Cash contributions (increasingly more and more).
* Etc., Etc., Etc…
But the hardest side to represent as an agent is the buyer’s side of a short sale because the buyer’s agent has no control of ANYTHING, and has to hope for a solid listing agent who knows what they’re doing. Right?
I just ended a painful short sale transaction where I represented the buyer that lasted 7 months and went nowhere. Granted, it wasn’t the easy one-loan in equator kinda deal, but we had absolutely no worthwhile answer from the bank after 7 months, which is totally inexcusable in 2011 as far as I’m concerned. The main problem, in my opinion, is that the listing agent saw this sale as a small income producer and pawned the negotiation responsibilities over to his part time TC. The TC had little-to-no experience with short sales, or negotiating any deals, and therefore little experience in working with banks. Because of her inexperience, I think she had little confidence in dealing with the bank and their personnel and couldn’t push back or demand results when she was entitled to do so. After being a listing agent on several short sales, I’ve come to understand that the burden of success lies heavily on the listing agent and specifically how s/he communicates to both the buyers’ agent and buyer, how she sets expectations and what answers she deems acceptable from the bank. Continue reading »
TG Gallaudet
By TG Gallaudet
I first became in tune with the idea to outsource around the same time 4-Hour-Workweek became a hit. I assumed that if people could outsource their entire lives, then I could outsource most of our business systems and save millions, if not billions, at the same time. Although that reality didn’t come to perfect fruition, I have learned a lot, which I’d like to share.
Every YPNer knows what I’m talking about, but a quick definition just in case: By “outsourcing,” I mean using the Internet to post jobs on websites like elance.com, odesk.com, and others to get the global workforce to bid on your projects. Projects can consist of virtually anything — from mundane data entry tasks, to designing beautiful and unique brochures, or providing full time administrative assistance. Aside from cost savings and quick turn around times (compared to using a local firm), it’s also a great way to delegate work.
Here are some personal examples:
- We just revamped our listing presentation and used a graphic designer in Peru to create powerful graphics that dramatically enhance our presentation. She turned my words into brilliant graphics, which enhance our presentation and message by roughly 1000 percent.
- Through outsourcing, we’ve updated all of our print marketing to have consistent branding across everything we publish: postcards, property fliers, business cards, note cards, and personal brochures. All are printed through online printing services.
An important point is that you must find the outsourcing person or team that best fits your needs. Work with a few different providers at first and determine which aspects of the relationship are most important to you, then focus on finding a provider with those attributes and don’t settle until you’re 100 percent satisfied. Finding the right person will produce better and quicker results over time.
A few lessons learned: Continue reading »
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