EMC not paying commissions since short sale is for another agent in my company

Sorry, put this in comments. Asking for advice. Seen this before? I have the most experience doing short sales in our office so another agent asked me to short sale their home. Under contract at the BPO price and EMC is stating they will pay no commissions at all since the seller is a licensed agent who works for the same company. I understand a reduction on dual agency, the buyer is the current tenant and I handled it for him, but nothing because we work for the same company? Seems extreme to me. Thanks.

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Permalink Reply by Ben Benita on October 27, 2010 at 8:03am

we have run into that.....to overcome....simply escalate your file to teh executive offices, or, find out whot he Investor is on the loan and ask them to allow the commission.

Remember, the negotiator that told you this is only doing his/her job.....reading from a script they were given....not all short sales fit into their happy little box!!!!

Best of luck.

Permalink Reply by Jeff Payne on October 28, 2010 at 2:59am

Don't back down, they will pay your commission. You probably have a new negotiator or one that has been there too long :) Escalate like Ben told you.

Permalink Reply by Brian Wood on November 1, 2010 at 6:20am

Ok, this has been sent up to VP level or so I have been told. They are saying it goes against Chase's conflict of interest and 3rd party arms reach guidelines to pay commissions to an agent representing an agent in the same office for a short sale. Have you heard of that rational before?

Permalink Reply by Jeff Payne on November 1, 2010 at 8:48am

Nope, makes no sense. They are trying to say that it is not an arms length transaction. Don't back down from them, keep escalating.

Brian Wood said:

Ok, this has been sent up to VP level or so I have been told. They are saying it goes against Chase's conflict of interest and 3rd party arms reach guidelines to pay commissions to an agent representing an agent in the same office for a short sale. Have you heard of that rational before?

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