One subject matter is mentioned multiple times each week on shortsalepowerhour.com but rarely do Kevin and Fred speak directly about it. That subject is escalation. Escalation means something different to everyone and it is crucial to comprehend what exactly Kevin and Fred are referring to when they speak about escalation.
Escalation, basically defined, is the method of getting your short sale file to the attention of a elevated authority. Numerous people believe that escalation is completed by calling the customer service department at the lender and asking them to escalate your file. Typically, the bank will respond to a call such as this with agreement and the assurance that your folder will be placed in the ‘fast lane’ through the short sale procedure. People, please understand, this is not the type of escalation that we are talking about.
Kevin and Fred think that the banks understand what it means for a real estate agent to escalate. So, the lenders have taken it upon themselves to create escalation departments. If you are of the belief that these escalation divisions can bring you any better consequences than the regular divisions, you may have a surprise ahead.
If you call the bank and ask them to escalate your file, you are essentially falling back into their trap. Chances are that you will still linger weeks or months to hear anything about your folder and the answers will not come to you any earlier.
Escalation, quite simply, is getting someone with a higher authority caught up in the situation so that all parties concerned recognize the importance of the situation. Quite honestly, this is one of the reasons why Group 46:10 has been so successful. They understand how to bring all parties to a common understanding.
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