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  • John Juarez May 3, 2011 at 5:22pm
    I have seen arms-length-transaction addenda that specifically forbid the payment of commission to an agent who is also a principal or who is representing a family member or business associate.
  • Jim Hale May 1, 2011 at 8:41am

    The new BofA Short Sale Addendum (in use for file initiated after April 4 per the BofA website) requires that there be two agents involved - one on either side of the transaction - no more double-ending by agents.

    But it also requires the listing agent have no business relationship with the buyer.

    Can a seller that is also an agent actually accept a referral fee from another agent on the sale of their own home by short sale?  I would want to read the bank addendum very carefully.

  • Wendy Chen May 1, 2011 at 6:10am
    Yes, it happened to me from Chase, but not all banks do that.
  • Ann Wilkins May 1, 2011 at 5:44am

    I represented a buyer/agent in my office on a short sale since she was told, that the investors would not pay her a commission.  We split the deal 50/50 and she received a referral fee.

     

  • Paul Aceto April 29, 2011 at 8:31am
    Thank you Bryan
  • Bryant Tutas April 29, 2011 at 7:58am
    Paul. We must be having a rush on this question. You are the third one to ask it over the last couple of days. The answer in a nutshell is that most investor/lenders are going to have a problem with paying a party to the contract a commission. I would go into the deal expecting not to be paid.
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