I was unaware of HSBC policy to only pay 5% commission until I got my approval letter. My listing contract and advertised co-op rate was 6%. Anyone having any luck getting them to pay higher than 5%?
Tags:
Stacy,
I am also currently processing another short sale with them now and expect an approval anytime now also at a full 6%. When I get the approval if it is at 6% I will share it with you.
Thank you so much Sid!! I just got off the phone with them again and they are adamant they have "never" done 6% on a Short Sale. Only REO's. He said I would have to send him the approval, so if you could send either of the 6%'s or both would be great!! Thank you!! The guy was a "real Peach" on the phone ;)
Stacey
614.315.4663
WIth all due respect, the amount of time you spend fighting for your one percent could be better spent finding a listing that isn't a short sale.
So you don't do short sales?
I do. More than I care to count. But I don't sweat the small stuff. One percent on a $150,000 property is $1,500. I give the other side half of that which means I net $750. The hours you spend on fighting for $750 is crazy. Better to list other properties. Only 20% of my business comes from short sales, which is still close to 20 a year, but with any luck, I'll be done with these soon. Good luck.
Did you get the 6% approval on this last deal yet?
© 2024 Created by Short Sale Superstars LLC. Powered by
Short Sale Superstars, LLC and www.ShortSaleSuperstars.com does not endorse the real estate agents, loan officers, attorneys, real estate brokers and other participants listed on this site. These real estate profiles, blogs, blog entries and forums are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a short sale. Short Sale Superstars, LLC takes no responsibility for the content on these pages that are written by the members of this community.