In Florida, if you are charging a negotiator fee the one charging it has to be an attorney or a licensed loan originator. Check on the office of financial site for the State of Florida. However, there is nothing keeping a buyer from paying a commission if disclosed to all parties. All of our listings for short sales require a 2% COMMISSION paid by the buyer if the short sale goes through. We split all commissions with buyer's brokers 50/50.

We usually end with an 8% position to split. Naturally you can charge as little as much as you want in our state as long as all parties agree and I don't suggest that because we do this that everyone should do it (in the spirit of non price fixing). We also don't let commissions get in the way of closing a deal even if we have to take less from both parties.

Views: 280

Reply to This

Replies to This Discussion

Wait so all agents negotiating a short ale are classified as doing a loan modification?

Ok, Sorry, but I feel like we keep having the same discussion over and over again.  This topic was brought up last year by someone in FLA too and I think back then we determined it had nothing to do with charging negotiation fees.


considering the law you posted has nothing to do with short sale negotiating, how about you post back the licened RE brokers and the cases where they are being brought up on charges?  I know in my state if you bring a licensee up on charges you can read about the case.  Would you please post back the cases as this info you posted doesn't relate to short sale negotiations.

Can someone else please read FS 501.1377 and tell me how this remotely relates to short sale negotiating fees?

Can someone tell me how my quotes above (where I wrongly referred to it as FS 501.212) possibly refer to short sales?

Another thing to remember is that most of these laws and rules apply to "foreclosure rescue services". Not all short sales are in foreclosure.



© 2020   Created by Brett Goldsmith.   Powered by

Badges  |  Report an Issue  |  Terms of Service

********************************** like buttons ************************