Comment

Comment by Elaine Kan on February 17, 2010 at 1:20pm

Wells Fargo is countering for $50,000 more than our original offer and cutting the commission to 3% because we are double ending.

Comment by Maria Evans on January 26, 2010 at 4:25pm

If it is a Fannie Mae or Freddie loan, they will pay 6% comission, no questions asked (just check their guidelines) They will try to reduce the comission but probably will pay 4% if you are on both sides. But if the realtor is the buyer, forget about... In my listings I offer 2.5 to the selling agent and if I get paid 6% I keep 3.5 . I think if they feel the agent is insecure and don't know the process they try to reduce. Must show you know your value!

Comment by Bryant Tutas on January 18, 2010 at 6:45am

David it definitely depends on the lender. I just closed on a Chase getting full 6% to me and I just received approval from US Bank doing the same. I have received as much as 7%.

GMAC always states they will only pay 5% yet on my last closing I received 6 and I have one waiting to close where I will get 6.

My personal opinion is that of the deal is strong enough (high price) commission becomes less of an issue.

So it depends on the lender and the deal.

Comment by Maya Thomas on January 18, 2010 at 3:12am

Yes, the bank will cut your commission to 1 side or 1/2 of the commission when you have the buyer and the seller. First you do 10X the work for the listing side and then you do all of the work for the buyer and the banks hand you 2 pennies for a 1000 hours of work. I can still hear a National City negotiator screaming at me about how greedy I am, "Look at all the money you are making and all the money we are loosing!" as if I had approved the loan for the borrower or caused the divorce or caused the city to cut all over time. "If we are taking a hit then you are going to take a hit."