Replies to This Discussion

Permalink Reply by Katerina Gasset on March 19, 2010 at 6:18am

There they go again! Dictating commissions! No, we have always just split the fee 50/50 but only up to 3% to selling agent. THe only time we get more than 3 on our side is with some smaller banks. Put it in the way you pay it out and then see what happens.

Permalink Reply by Nina Sloan on March 19, 2010 at 6:20am

It's an Anti-Trust violation to discuss commissions amongst brokers. This appears to be "flirting" with that to me. It's NOT their call how you run your business. As the Listing Agent distributing the commission is YOUR business.

Permalink Reply by Ed Romero on March 19, 2010 at 6:22am

There is no breakdown, just total 6% amount....Never had a problem with BOA before when I fax in a HUD. Let's see what happens. thanks.

Katerina Gasset said:

There they go again! Dictating commissions! No, we have always just split the fee 50/50 but only up to 3% to selling agent. THe only time we get more than 3 on our side is with some smaller banks. Put it in the way you pay it out and then see what happens.

Permalink Reply by Ed Romero on March 19, 2010 at 6:23am

Sounds good, thanks.

Nina Sloan said:

It's an Anti-Trust violation to discuss commissions amongst brokers. This appears to be "flirting" with that to me. It's NOT their call how you run your business. As the Listing Agent distributing the commission is YOUR business.

Permalink Reply by Karen Donovan on March 22, 2010 at 9:45am

Ok - here is one for you. I had my BOA short sale approved BUT the negotiator cut my & buyer's agent WAY below what would be considered the norm. Both myself & my title company went back to her 3 times and she just said it was the new guidelines. Anyone have experience with this and any advice?

Permalink Reply by Ed Romero on March 22, 2010 at 10:15am

Negotiators always try the "guidelines" approach, but our Brokers have guidelines as well. Maybe you can point out how much you are saving them, through your marketing, open houses, flyers, ads, etc. You spent time and money on the listings. Have you checked to see if it is a Fanny Mae backed loan? They can not reduce commission on a Fannie Mae based loan. Maybe showing them the profit/loss margin would help, I know these are not perfect answers, but hopefully it can help.

Permalink Reply by Karen Donovan on March 22, 2010 at 10:40am

Thanks, Ed. Tried all that - to no avail & of course it was set for AUCTION in a month so I was afraid to rock the boat & just say No!! (It was not Fannie Mae unfortunately.
Ed Romero said:

Negotiators always try the "guidelines" approach, but our Brokers have guidelines as well. Maybe you can point out how much you are saving them, through your marketing, open houses, flyers, ads, etc. You spent time and money on the listings. Have you checked to see if it is a Fanny Mae backed loan? They can not reduce commission on a Fannie Mae based loan. Maybe showing them the profit/loss margin would help, I know these are not perfect answers, but hopefully it can help.

Permalink Reply by Ed Romero on March 22, 2010 at 11:05am

Good luck,sometimes I guess we have to bite the bullet, but a close is close!!