Has any person(s) had any experience with the short sale platform Program 3468.
It appears to be a company that support the agents and lead generating for short sales business.
IThe cost runs about $298.00 @ month, .
Can anyone elighten me about this company or program.
T. Lang
Replies
Other than that, it is just another mitigation scheme the way I see it.
all cases, for example BAC vs Doe, John.
It sounds similar to a company called BGS3 that worked under Program 3468. Basically, for $795 per month, the agent got a preforeclosure list (homeowners new in default) in their territory so that the agent could solicit the homeowner for a short sale listing.
An agent in our office tried it out. He called an agent in San Diego that had been marketing this program for about a year and had a lot of success with it. She was closing about 6 short sales a month. Our agent thought it was worth a try so he signed up. He closed 1 property in the 8 months that he paid for the service. Basically, it was up to him to do all the marketing. He did wind up with a few leads a month and some listings, but just didn't get enough volume to get anything closed. As we all know, a lot of short sales never close. BGS3 did process the short sales for a 1% fee. There seems to be alot of resistance from the banks these days over that fee. Some agents wound up paying for that out of their commission.
Hope this helps.