Short Sale Escalation With Social Media
Challenges arise in almost every short sale. Frustrated and running out of options, Realtor Nicole Charles of Keller Williams in Madison, Wisconsin, turned to twitter:
@Ask_WellsFargo Can anyone please help me with a short sale issue? Getting the run around an am about to lose the Buyer due to delays. HELP
Wells Fargo responded! First, in tweets, they asked for more information and direct contact. After a few more tweets and correspondence, a representative promised to escalate the 
matter and have answers that day. She had revived a dying sale through social media!
Escalation
Creative and persistent agents understand the importance of escalation in short sale negotiations. This can be as simple as contacting a manager or supervisor. It can also include contacting the investor or mortgage insurance company directly. The goal of escalation is to reach an individual with more authority and the ability to move the transaction towards closing. Often, the biggest challenge is simply finding contact information for that escalated individual. Some agents call Fannie Mae or Freddie Mac directly, when they know they are the investor. Others manage to glean investor contact information from hints or clues in correspondence. And this creative agent discovered the newest way to get things done – social media and twitter!
Thank you Nicole Charles for this fantastic tip!
I heard a friend talking about how she escalated a retail purchase complaint with a facebook complaint. Her phone range in minutes. Reminds me of a saying that goes something like—Satisfied customers tell 2 friends. Unsatisfied customers tell ten friends. Except now they tell the world and that makes CEO’s take notice. Nicole’s message was an SOS. The ship of Wells Fargo heard the call and responded. Nice.
Pretty amazing! I tweeted about it and within 24 hours received 5 calls and got APPROVAL! This after about 7 months of the run around! Gotta love the effects of social media! Tom, you are right about the unsatisfied customers!
Nicole, thank you. I am a Realtor in Scottsdale Az with a similar problem with wells fargo. I just tweeted them . . . I will let you know if they answer me. Thanks again
Hello, i think that i saw you visited my site so i
came to return the favor.I am trying to find things to improve my web site!
I suppose its ok to use a few of your ideas!!
I’m going to try your Tweet method. Freddie Mac stopped communicating with my Wellsfargo negotiator since mid Sept! Just tweeted both Wells and FM. Let you know how it works!
Well I tweeted to both Ask_Wellsfargo and Freddie Mac. I received no response but when I called the Wellsfargo loss mitigation customer service this morning the rep repremanded me! She said that by my calling and emailing for a status was going to cause more problem for me, was not going to help and would actually cause a delay (did they see my tweet?). Then she proceeded to tell me what she needed from me IF I wanted them to escalate the file. The words I have been waiting to hear since Sept 27th!
Dana-
I just tried to check on your tweet and your twitter settings only allow confirmed followers to view them – not sure if this will effect how/if they see it??? What did the tweet say? I had said something to the effect of @Ask_WellsFargo – months of short sale negotiations and you STOP COMMUNICATING? I need SOMEONE to return a call! #shortsale #wellsfargo Make sure you hashtag them as well – this makes it more searchable/findable for the general public.
Hope this helps! BTW – don’t give up!!
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I have been working a short sale in California where the owner died and the family is putting the property through probate. Wells Fargo has a sale date and we have been going round and round. Faxing requests again and again. Being told to submit our requests to the same number with no prevail. After a month of waiting for a response, we are now told it is too late and they are foreclosing. We have probate filed and underway. What can I do??