Trent Chapman Talks About Escalation

Short Sale Power Hour is thrilled to welcome Trent Chapman, Short Sale Genius, back to the episode. Trent has spent lots of time teaching agents how to escalate. He provides a form letter on his website, theshortsalegenius.com, to offer people an exemplar of how to impart the escalation message to the bank. Essentially, it gives a general script as to how you can clarify that the short sale is better than foreclosure.

Alas, because too many people have simply copied and pasted the manuscript, Matt Vernon may have a problem with it. For persons that do not know, Matt Vernon is a major player at Bank of America. So, Trent will be getting in touch with Matt Vernon to chat about the escalation letter.

The thought behind the letter is that Trent needs to assist agents in knowing how to escalate. When you are addressing someone that is higher up in the lender, you need to make the narrative as short as feasible. We suggest that you tell them the following. This is the house. It has been on the market for ‘x’ days. We have a proposal. It’s full market value. Here is the fair market value backed by these comps. Then you give them the figures. With a short sale, you will earn this much money and if this forecloses, you will earn this much funds. That is the general picture of the email.

Escalation done correctly can make the short sale process move more smoothly. Furthermore, the lender will unknowingly appreciate the fact that you have the information showing why it is in their best interest to approve a short sale. Check out Trent’s website for the complete script to use in your escalations.

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