Local wins every time.Just ask Texas.
Having put up with their shady practices for the last few years, fifteen homeowners have banded together to file a class-action lawsuit against Bank of America for their unfair, illegal, and highly unethical behavior throughout the current housing crash.
From foreclosing on a home that had already been sold, to foreclosing on a home that they did not even have a loan with (oops!), BofA has routinely crossed the line with home owners and sellers and has made the jobs of local agents trying to help home-owners and sellers exceedingly difficult, as reported by AgentGenius.com.
Take, for example, the story of the Floridian couple who had their home foreclosed on earlier this year. The home that they had paid cash for. As it turns out, BofA had the wrong address, which tends to happen when you're processing paperwork in a completely different state. Even a local Realtor could not convince that them they had the wrong home.
Of course, a lot of these headaches could have been prevented by taking a more local approach to banking. This current financial meltdown has unfortunately tarnished the reputation of the entire banking industry, which is sad because there are still a lot of good banks out there.
As any agent knows, in real estate, locally-focused wins every time. Great agents know their towns, neighborhoods and blocks better than anyone. A local approach allows business to transact between people, not ones and zeroes in far-off states.
DotLoop understands this as well; our system helps foster the communication between agent and client; indeed it offers even more transparency to the negotiation process (no illegible changes crammed into the margins of a contract).
After all, when it's all boiled down, even with using the latest technology to aid the negotiation, the home buying and selling processes still require a human touch, and a local approach.
No comments:
Post a Comment