
Our fearless Foreclosure.com leader, Brad Geisen, was recently interviewed for an extensive article on short sales for NPR.org.
Brad, who has more than 25 years of experience in the real estate trenches, is often called on for his take on the latest real estate trends and issues.
Here’s the excerpt:
“‘The No. 1 biggest factor as to why short sales aren’t going through is flat-out disorganization,’” says Brad Geisen, CEO of Foreclosure.com, a Florida company that specializes in providing statistics on distressed property and software for lenders.
It’s almost impossible to pin down the percentage of initiated short sales that are completed, Geisen says, but the national average probably hovers at 10 percent to 15 percent.
Bank staff and real estate agents have been staggered by the mountain of mortgages gone bad — the scope of which few people anticipated before the housing bubble burst in 2006, Geisen says.”
Brad actually spoke in great detail about how organization is the key to moving inventory quickly and getting short sales approved as quickly as possible.
Banks just weren’t prepared for the avalanche when it came sliding down the mountain, which is what he meant with the “disorganization” remark. The situation has since improved drastically and continues to do so as new technologies emerge and more people are brought in and trained to handle the workload effectively.
In fact, Brad is even leading the charge on the “organization” front, developing a robust back office platform that simplifies the complex HAFA short sale and deed-in-lieu processes. It’s offered through QuickSale.com. And you can learn more about its awesomeness right here.





Recent Comments