Brian Brumpton's Blog (2)

LBPS/Seterus using 3rd party group to negotiate short sales and it only cost us 1%!

How clever some of these companies that keep popping up claiming to be our good buddies and stick with us throughout the transaction.

Something didn't sound right when I started questioning the guy. Sure he said he was with the National Group(s) or something. When I started to ask how they got paid he let me know that they get a 1% fee and that commissions are reduced to 5%. When I pressed about how they intend to get around Fannie Mae's guidelines that they're not allowed to reduce…

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Added by Brian Brumpton on November 11, 2011 at 11:59am — 6 Comments

How low is too low to accept a short sale listing?

I recently canceled three short sale listings after a client insisted that I pay to do some advertising that is not part of my marketing plan. We decided to go our separate ways after I broke down the numbers for them and showed them just how much money I was going to make off the listing if I were able to negotiate the short sale.



I was actually losing money after paying my admin staff. It started me thinking, how low is too low? At what point do you say no to a short sale… Continue

Added by Brian Brumpton on November 10, 2009 at 1:32pm — 8 Comments

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