I'm not sure if this has been discussed and maybe it's happening in reality, I dont know. But can short sale negotiators for lenders work on a 100% commission just like us, Realtors(R) do?
Then perhaps, they could be motivated to work on as many files as they can?
I'm just talking out loud. There may be considerations that they cant be done but how else to motivate someone to work harder than to know every dollar is on a 100% commission?
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I',m aware that several lenders offer seasoned negotiators additional compensation for closing files through short sales. Here's the kicker...seasoned negotiators especially former asset managers and divisional managers, leave the lender because they can make a lot more money negotiating for private buyers, So to answer your question, yes...great negotiators would rather work a percentage. Negotiators do not have to be in your state to be effective. On our side, it has been worth my while to hire negotiators and pay them well to close a file. Thery work on commission. Good negotiators can work on 30-35 files in their pipeline and probably turn out an average of 4-5 a month when their pipe is full and rocking.
There obviously is more to this than the fact that they are good. To give you an example of what a good negotiator can accomplish...we closed a sale with the BPO waived, we've closed short sales within 3 weeks. Lenders call our negotiators and offer dead deals they could not close with agents. Lastly, our negotiators call on deals left for dead by sellers with agents on the day of sheriff's sale and get a postponement. These things happen...not often, but a good negotiator is a necessity in the short sale process. The way I see it...100% of zero is still zero. Like the successful, professional agent, one will profit when using their services, it costs money when you don't.
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