Mike Sher 2009 Track Record: 56 homes sold, 22 Short Sales and 365 of Focus
A ton of agents are complaining about equator and how it does not work well with Realtors. I think the bigger problem is that we Realtors need to figure out how to work with Equator. So here are ten ways to make equator "Realtor Friendly"!!
- Download the BOA Short Sale Equator guide http://bankofamerica.reo.com/documents/AgentEducationGuide.pdf
- In your listing presentation, prepare your seller on how to work with equator.
- On your addendum's to your purchase agreement include "buyer agrees to supply listing agent first 5 digits of buyer's social security number, address, phone number and date of birth 24 hours after mutual acceptance of offer."
- After starting the short sale on equator (make sure you seller is available) 3 way call 866.880.1232 to set up the borrower on Equator
- PDF in advance, into individual files, the borrowers tax returns, last two pay stubs, bank statement, hardship letter, financial statement, w2's and etc.
- Check Equator daily to see if you have any open tasks, complete them ASAP!
- Email through equator 24 to 48 hours after you have completed a task.
- Call equator weekly if your account has been idle on the BOA side, have the customer service person trigger the account.
- upload bank statements and pay stubs when every your seller gets them.
- if you lose the buyer, be prepared to start over again and not to lose your cool!!!
Good luck and for any Michigan short sale seller's out there, contact me. I would be glad to help.
The Mike Realtor Team sells Homes in Bloomfield, Birmingham, Beverly Hills, Farmington, West Bloomfield. Rochester, Troy, Novi, Huntington Woods, Royal Oak & Auburn Hills. Call us at (248) 644-4700 X 242 or check us out at www.ShortSaleOaklandCounty.com or www.mikerealtor.com Mike Sher
Mike, not only are you an expert with a wealth of knowledge, you're nice enough to share!