Dear fellow short sale specialists,
Has anyone ever seen problems with a broker receiving commissions when they are also the buyer?
Thank you, Paul
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I represented a buyer/agent in my office on a short sale since she was told, that the investors would not pay her a commission. We split the deal 50/50 and she received a referral fee.
The new BofA Short Sale Addendum (in use for file initiated after April 4 per the BofA website) requires that there be two agents involved - one on either side of the transaction - no more double-ending by agents.
But it also requires the listing agent have no business relationship with the buyer.
Can a seller that is also an agent actually accept a referral fee from another agent on the sale of their own home by short sale? I would want to read the bank addendum very carefully.
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