Replies to This Discussion

Permalink Reply by Ben Benita on October 11, 2010 at 12:16pm

I have found that ALL lenders will allow this, BUT, they only pay 3%.....

Best move for you financially, have someone else in your office get involved and pay you a referral fee of some type.....

Permalink Reply by Myra McCaskill on October 11, 2010 at 2:40pm

Thanks Ben!

Permalink Reply by Jeff Payne on October 12, 2010 at 2:15am

Ben, I don't know if you watch NFL Football but I have to give you a big ole COME ON MAN! Sure they will pay your full commission, you may just have to fight a little more for it. Most likely they will try to get you from 6 to 5 % but that is not going to be any different financially for her than bringing in another agent and many times they will try to cut it to 5% if both agents are in the same office.
I might be a bit different here but anytime the negotiator comes back and says we can approve this sale but only pay 5%, I usually take them off guard when I tell them, "Great, send me the approval letter!" Most of the time by not arguing commissions with them, they pay 6% anyway. Most of the negotiators think that asking to cut the commission is going to start an arguement and that it will buy them more time. I like to use reverse psycology on them, it always works with those with 5 year old mentalities!

Ben Benita said:

I have found that ALL lenders will allow this, BUT, they only pay 3%.....

Best move for you financially, have someone else in your office get involved and pay you a referral fee of some type.....

Permalink Reply by Kari A. Battaglia on January 11, 2011 at 11:43am

Jeff - Great argument.  I have been fortunately lately to be working Freddie Mac or Fannie Mae loans.  They too tried to cut commission and I had to remind them that per Rule 09-03 they can not negotiate my commission.  I currently have both sides of deal with EMC and with Wells Fargo.   I will try your style should they try to cut commissions.

Jeff Payne said:

Ben, I don't know if you watch NFL Football but I have to give you a big ole COME ON MAN! Sure they will pay your full commission, you may just have to fight a little more for it. Most likely they will try to get you from 6 to 5 % but that is not going to be any different financially for her than bringing in another agent and many times they will try to cut it to 5% if both agents are in the same office.
I might be a bit different here but anytime the negotiator comes back and says we can approve this sale but only pay 5%, I usually take them off guard when I tell them, "Great, send me the approval letter!" Most of the time by not arguing commissions with them, they pay 6% anyway. Most of the negotiators think that asking to cut the commission is going to start an arguement and that it will buy them more time. I like to use reverse psycology on them, it always works with those with 5 year old mentalities!

Ben Benita said:

I have found that ALL lenders will allow this, BUT, they only pay 3%.....

Best move for you financially, have someone else in your office get involved and pay you a referral fee of some type.....

Permalink Reply by Kari A. Battaglia on February 23, 2011 at 4:45pm

I was just told tonight that parent company (Chase) will only allow 3% commission as they consider this double dipping.  I work with company who will not allow this and in fact if I accepted this from lender it will cost me to do this transaction.  That makes great sense.  I am trying to research this on what their real policy is and also will try to find out who investor is and call them direct.