Can An iphone App Really Score Your Short Sales accurately? See in this review
If you do real estate short sales and have ever gone through the process of getting one approved (of have been rejected by the bank) with a bank… you know that short sales come in all shapes and sizes.
Some seem to breeze through easier than you expected… some become a slog that you feel will never get completed.
Complications pop up in the short sale process all the time that can derail a short sale… or just make it a pain in your arse to work on.
An Iphone and Android App That Tells You How Easy (or Hard) A Particular Short Sale Will Be
I was in my mastermind this spring in Las Vegas with about 25 other awesome entrepreneurs… most of them extremely active in the real estate investing world.
Two of the guys in the group run one of the nations largest short sale negotiation companies in the country, Summit Mitigation Debt Negotiation Services out of Colorado.
And at the mastermind they were talking about an iphone app (now its an Android app as well) that basically distills the experience and intelligence of 2,000+ short sale transactions their company has processed to help investors like you find out if a particular short sale has traits of being a hard one to tackle… or will be easy as heck.
The Value: The value here is… if you’re at a sellers house and can punch in the information about their house into the app on the fly… before you’ve even back to the office (or do it back at the office if you’d rather) you’ll get a score from this app (called My Short Sale Score) saying if it’ll be hard or easy… and it’ll give you a report detailing why it will be hard/easy and what to look out for. For short sales that are hard and will eat up your time and resources… this helps you decide whether to dive into it before you get in too deep. And vice versa… if you find out a short sale has a great chance of being easier… put it at the front of the line and hit it hard to close the deal quickly.
Quick Video Demo Of The MyShortSaleScore Smartphone App
Here’s a video demo walking through how it works (it can explain it better than I ever could):
My Review and Thoughts on the My Short Sale Score Iphone/Android App
The darn app is free… you can get it here <<
So I’m not going to spend a whole heck of a lotta time telling you what I think about it (just download it yourself and try it out).
But, here’s my initial thoughts on the short sale iphone app, MyShortSaleScore.
The Pros: What I liked
- It’s free to download. Can’t beat that eh?
- The “scores” and the data are backed by real world short sale transactions (over 2,000 chosen at random) so you know that the scores it pumps out are extremely accurate (they say 97% accurate). Having that knowledge base in your palm is a powerful thing
- It’s much more than just something that’ll tell you how hard or easy a short sale will be. It’s a full short sale transaction management system in your palm. Upload pictures, files, organize transactions, generate full detailed reports (in the pro version… which is still a crazy bargain), and even outsource the hard short sales to Summit Mitigation Services for them to negotiate for you if you want to (a service they offer you is to do the negotiation for you from start to finish for a fee. Could be well worth it on harder short sales so you don’t waste your time spinning your wheels).
- Cool feature… if you’re at the house using the app… just hit one button and the app will automatically use the GPS in your phone to pull up the address and Google Map of that house and start the file for you. Really slick.
- Directly integrated with Dropbox.com (the file storing and sharing service I personally use… killer service) so when you take pictures of the property it’ll create a folder for that property right in Dropbox for you so your team back at the office can start putting the marketing together for it before you even leave the house.
- … and more
The Cons: What can improve
- Like I said, it’s a free app… so not a lot to complain about. But if I had to say anything… is I’m picky on design… and it could be prettier.
My Recommendation
There’s not a lot to debate here once again. It’s free to download. The iphone and Android My Short Sale Score app links are below.
It’s simple, yet it has a huge knowledge base behind it that drives its recommendations and scores.
This app isn’t something thrown together by some tech nerds looking at making a killing in the app market. It was put together by guys in the trenches doing short sales each month… and over 2,000 of those short sales their company has negotiated in the last few years chosen at random have built the base of the engine that gives you solid recommendations accurate to a 97% confidence level.
In short, is this a magic bullet for real estate agents doing short sales or short sale investors?
Nope.
But, it is a really cool tool that can help you save time, headache, and prioritize the deals you should be focusing your resources on. If you don’t want to get into another short sale that drains you and ends up being waaaaayyyy harder to close than you thought going in… this app can help you avoid those deals.
On the other hand, it can help you cherry pick the easy short sales to focus your time on… and give you the platform to manage many parts of that short sale right from your cell phone.
Pretty slick. And again… it’s FREE to download 😉
Here’s the direct link to the app downloads below:
Last note… we don’t receive any compensation or return for this review. It’s a great tool that we learned about and want to pass it along to our readers so you can see if it’ll help you do your short sales easier. Enjoy 🙂
