Comment

Comment by Wendy Rulnick on August 23, 2009 at 4:54am

Respa Rules.pdfNew RESPA Rules

Comment by Petra Norris on August 19, 2009 at 9:39am

I'm glad to see that something is being done for a bona fide tenants. I've had a discussion with a lady recently, who rented a house that was foreclosed on under her nose where she had only a few days to move out. She always paid her rent on time :(

Comment by Wendy Rulnick on August 19, 2009 at 8:34am

Foreclosure Tenant Law

Comment by Wendy Rulnick on August 10, 2009 at 9:30am

Sometimes I feel like telling Fannie Mae or one of the lenders, "Hey You work for me, since I am funding your operation with my tax dollars." For some reason, I don't think they'd care.

Comment by Petra Norris on August 10, 2009 at 9:08am

Wendy, I wouldn't change it either. Perhaps they want us our for profit change to a non-for-profit business.

Comment by Wendy Rulnick on August 10, 2009 at 8:11am

Petra and Stephanie- I am not going to change what I do... I can prove I've been doing the same thing for years. It is absurd, though, to say an agent cannot charge more because of the extra work. DO they want us in a food line,too???

Comment by Petra Norris on August 10, 2009 at 8:07am

Wendy, thanks for sharing the link with this group. It is really disappointing to see that officials want to interfere with our commissions. I split my commission as stated in the MLS which is previously decided between my seller and myself. This agreement is between the seller and the broker and if the broker reduces or splits otherwise as long as it is in agreement with the seller it should stay this way.

Comment by Stephanie Lim on August 10, 2009 at 7:23am

I have my fee which varies depending on the situation then I let the seller decide the coop amount after explaining the concept and then we add the two together for the total. I probably do charge more than others but I also have never let a seller go into foreclosure because of the commission if it became an issue...which it often does. A seller has the full ability to shop around and go with someone else if they don't like what I charge. The bank also usually attempts to beat us up on our commission. Now the state of FL is determining our starting point? I didn't see that coming.

Comment by Wendy Rulnick on August 10, 2009 at 7:04am

Yeah, I think it is ridiculous. BTW my area standard splits are 60-40. If the selling agent gives me a hard time, I make is worse :)

Comment by Stephanie Lim on August 10, 2009 at 7:01am

Okay...am I the only one having a WTH moment over this new letter? I thought there was no such thing as a "standard" commission....now it is being mandated by the state's "Office of Financial Regulation" that we have to charge what everyone else is charging? And is this really also saying that I have to split it equally with the buyer's agent?

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