Ned Stock

I just attended a board meeting last night regarding whether to switch lockbox systems. We currently use the Supra System which I really like because of the Technology. With a Blackberry add-on coming out and the new key this seems to be a great system. The reason for this discussion is that a larger board next door is switching to the Sentri-lock system. It seems form the presentation that this is an inferior system and that it will cost more business wise when they come out with technological advances because they have to be purchased separately. I was wondering if anyone uses this SentriLock System and if so your thoughts about the differences between the 2 thanks.

As from my previous blog, alot of you know that with short-sales persistance pays off. I finally settled one of those deals where that persistancy paid off. This was a referral, the referral agent says that they have alot more business in my area, and they are only going to use me. It makes you feel good all around when the lender (who wasn't my choice), the referring agent, and your clients tell you how satisfied they are on a very difficult deal. I have one person and one person only to thank myself. That is my father. He is a prominent attorney in the area that I work. I have my JD also, and had planned on going in with him. After being out of Law School and taking the bar, I started to realize there were somethings about the law that I didn't like. We get a bad rap for being unethical sometimes, you should see attorney's. Not my father, he has been very upstanding all the years he has done his job. The one piece of advice he gave me we I told him I wanted to go into Real Estate, he said,"Son, just promise me you won't be incompetent." Through all his years of practice and doing settlements himself, he said that was the most frustrating thing was how incompetent alot of agent's are. I learned from this by going out in my first year in the business and getting designations and taking classes. I am now the Managing broker of my office. I have told all my new agents to go out and take classes and learn the business while you are trying to do the business. It helps because your client will be very comfortable with you while the deal is going on. With everything we have to know in our business, We should be learning and reading articles about the business and still taking classes. This is why I was able to get my short-sale deal with 2 lenders done, even after taking 120 days, because I knew how to get the deal done through my years of learning the business.

I have realized after doing many a short-sale that alot of agents don't like doing them because of the time and effort they take. I have come to learn from 2 of my short-sales, that persisitance is all that is needed. I have had 2 short-sales that have lasted more than 120 days. One of them still hasn't settled, but is going to. I learned that sometimes as buyer's agents we have to call the 3rd party lender ourselves to get action. You might ask how is this possible if we don't have permission from the seller to talk to them? You can get permission. This doesn't always help. So another idea I have come up with is to get all the information I can from the listing agent, call the 3rd party lender, then tell them the reason for my call. BE PERSISTANT!!! Eventually, you will find someone, who will put you in touch with someone who can get results. Alot of times, all I did was ask to speak to the President's office and I got transferred. These companies are so overwhelemed that they have people designated to help us. They don't want these properties to goto Foreclosure because of the money it costs them. From these experiences I have accumulated some names and numbers for people in President's offices that can help in getting your short-sale expedited. Please contact me if you would like this information. Also, this is my first blog, so I hope it is helpful. thanks.

Ned