"Every lender is different. I personally sold two of my investment properties in 2010 as short sales. I was the listing broker on both. I did not receive a commission. The selling broker did. Both were with BofA."
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Can agents list their own short sale properties?
Started this discussion. Last reply by Bryant Tutas Jun 28, 2011. 68 Replies 0 Likes
Hello. This is my first post here, and I wonder if the superstars can help me. There's a question in my Activerain SFR group that I think needs some authoritative answer. The question is, can an…Continue
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Bryant Tutas replied to Yolanda Hoversten's discussion Can agents list their own short sale properties?
Doug Packard replied to Yolanda Hoversten's discussion Can agents list their own short sale properties?"Krystal,
I didn't sign any escrow instruction form, wasn't given one to sign. On the info sheet with the original submission, I was listed as the listing agent. It was no secret. Several times in my discussions…"
Kimberley Kelly replied to Yolanda Hoversten's discussion Can agents list their own short sale properties?"Great stream as usual. I would not list my own. I would use a good Short Sale List Agent, keep my hands out of it, except as requested of course..and let 'er rip. Why dirty the waters? "
Dr. Rodney K.Elkins replied to Yolanda Hoversten's discussion Can agents list their own short sale properties?"although you can do your own short sale for zero commission...why?
let another agent assist you....and then let them split a future commission on ANOTHER property with you!"
Dr. Rodney K.Elkins replied to Yolanda Hoversten's discussion Can agents list their own short sale properties?DoesntMatter replied to Yolanda Hoversten's discussion Can agents list their own short sale properties?"i can confirm 100% B of A will NOT allow the H/O to represent themselves, commision or not."
Krystal Heedly replied to Yolanda Hoversten's discussion Can agents list their own short sale properties?"I am the broker of my company and although I am working on a possible loan mod I feel this may end up as a HAFA short sale.
Who was the bank?
And didn't you have to sign your name as the person receiving the commission for your brokerage on…"
Trina Gonzales replied to Yolanda Hoversten's discussion Can agents list their own short sale properties?"You legally can if you disclose it clearly. Most banks don't want you to and there is really no law barring it and you wont be compensated. It's much better to go ahead and refer it to a trusted expert in your office. You can stay…"
Yolanda Hoversten replied to Yolanda Hoversten's discussion Can agents list their own short sale properties?"Thank you, Kathy. This is good to know.
Sweet indeed! Hope everything goes smoothly with the closing.
- Yolanda
"
Kathy Dyer Realtor Rosevillle Ca replied to Yolanda Hoversten's discussion Can agents list their own short sale properties?"I do know that Freddie Mac GSE HAFA does not allow you to list your own property. Not even with the same brokerage. The arms length agreement within the HAFA rules.
I got a referral from a Realtor, another brokerage, who wanted to do a HAFA…"
The Negotiator replied to Yolanda Hoversten's discussion Can agents list their own short sale properties?"It really doesn't matter what you or I think. It only matters what a judge will believe if you stand in front of him or her. I'm sure nothing will happen, however, I think the majority of us in here are saying that it's just not worth…"
Doug Packard replied to Yolanda Hoversten's discussion Can agents list their own short sale properties?"I didn't "forget" to do anything. The approval letters and my discussions with the negotiators indicated the commission had to be payable to the company. They were aware I owned the company. My persistence and skill…"
ElizabethWeintraub00697006LyonRE replied to Yolanda Hoversten's discussion Can agents list their own short sale properties?"Forget the referral fee. Just get another agent to do it. Never mind the liability issues. Pay up your E&O if you do it yourself. Like others have said, there can be no commission to you. You cannot profit from the short sale."
The Negotiator replied to Yolanda Hoversten's discussion Can agents list their own short sale properties?"And I'm sure you "forgot" to tell them that the commission was going to paid directly to you, did you?
"
Doug Packard replied to Yolanda Hoversten's discussion Can agents list their own short sale properties?"Lots of misinformation on this thread. I listed and negotiated my own short sale. I am the broker of my company, and as long as the commission was paid directly to the company, neither of my lenders (Wells Fargo and Citi) had a…"
Yolanda Hoversten replied to Yolanda Hoversten's discussion Can agents list their own short sale properties?"Hello again.
Mike went back to my question whether or not an agent can, and he is correct that I wasn't asking whether an agent should. I learned from the discussion that:
- yes an agent can, but it depends on the…"
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- Yolanda
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- Hoversten
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- O'Fallon, Shiloh, Belleville, Swansea, Fairview Heights, Collinsville, Lebanon, Mascoutah, New Baden, Troy, Scott Air Force Base
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- Broker associate with Prudential One Realty Centre - O'Fallon, IL. Seller and buyer agent in the Southwestern Illinois covering St. Clair and Madison Counties including military relocation at Scott Air Force Base.
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