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Never, ever, ever, EVER use a 3rd party to negotiate and work your short sales. There is no reason why you or an assistant can't do them.
All banks, Fannie and Freddie agree...
I'm surprised to hear ANY agent is using Titanium, they haven't had the best reputation around lately.
MIke, Thanks for the reply. I went with them because I could not find anything negative. And they promise a smooth transaction because they claim to have relationships with all the banks. Hopefully my post will alert other agents, so they avoid the mess.
I am suprised this post is not getting more replies...
Thanks for the reply. I wish I could afford an assistant...LOL
how much were you going to share with TS? if you ask an semi-retire agent or an agent who is slow in your office to do that for you, or your wife, sister, brother, older child, etc, and you pay them that amount after the settlement.
when I started I used to do everything myself, now I have 4 assistants, that is the only way to grow. If you have it set up right they will pay for themselves, they have to be productive.
That is great info Jose. How much should I pay an assistant?
TS Charges 25% of the listing side.
I was contacted by an assistant manager at TS today. Looks like they let somebody go and I am dealing directly with him now. So far so good...
I'm with Jose. Pay them an affordable, lower base pay and pay them based off production. 10% of the commission or $200-$400/closing is what works for me. This gives them incentives to be productive, and offers increased salary over time as they are more successful. My head processor makes $60K-$75K/year but works his bottom off and gets them done. I am only obligated to pay him about $10/hour. I do agree with Jose, good assistants are the only way to actually grow your business and focus on the things that actually make you money.
ALL scam artists/3rd party negotiators talk about all of their contacts at banks to try to manipulate agents to using them. This is complete GARBAGE and part of slimy manipulation 101. If you want ANY contact at ANY bank and are having difficulty, go to www.TheShortSaleGuide.com and just ask. Even though Titanium Solutions does outsourcing for Bank of America, I watched the Head of Loss Mit. at BOA (David Sunlin) along with the head of loss mit. at Citi and the head of loss mit. at Freddie Mac all THREE proclaim on a panel at the REO Expo a few months ago that agents should NEVER, EVER use a 3rd party to mitigate their short sales.
Contacts at banks are NOT even needed and can't be used unless their is major problem and need for escalation. In other words, YOU will use all the same contacts and people at Bank of America at your disposal by dialing their 1-800 number that Titanium Solutions would. Regardless of their size. The fact that THEY know this and manipulate agents otherwise is just again part of slimy manipulation 101.
Titanium used to have a better reputation a few years ago, but as most folks here on REOPro would agree, that has definitely changed.
That is fantastic info. Thank you very much! I hope to be able to pay an assistant $75k real soon. I need to move to an area with higher price homes...