HSBC Commission Structure

I was unaware of HSBC policy to only pay 5% commission until I got my approval letter. My listing contract and advertised co-op rate was 6%. Anyone having any luck getting them to pay higher than 5%?

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Permalink Reply by Sidney Kutchuk on May 20, 2013 at 3:41pm

Stacy,

 I am also currently processing another short sale with them now and expect an approval anytime now also at a full 6%. When I get the approval if it is at 6% I will share it with you.

Permalink Reply by Stacey Lambright on May 28, 2013 at 6:20am

Thank you so much Sid!!  I just got off the phone with them again and they are adamant they have "never" done 6% on a Short Sale. Only REO's.  He said I would have to send him the approval, so if you could send either of the 6%'s or both would be great!! Thank you!! The guy was a "real Peach" on the phone ;) 

 

Stacey

614.315.4663

[email protected]

Permalink Reply by Wendy Perez on May 28, 2013 at 6:45am

WIth all due respect, the amount of time you spend fighting for your one percent could be better spent finding a listing that isn't a short sale.

Permalink Reply by Sherry Chastain CDPE on May 28, 2013 at 7:45am

So you don't do short sales?

Permalink Reply by Wendy Perez on May 28, 2013 at 8:17am

I do.  More than I care to count.  But I don't sweat the small stuff.  One percent on a $150,000 property is $1,500.  I give the other side half of that which means I net $750.  The hours you spend on fighting for $750 is crazy.  Better to list other properties.  Only 20% of my business comes from short sales, which is still close to 20 a year, but with any luck, I'll be done with these soon.  Good luck.

Permalink Reply by Sherry Chastain CDPE on May 28, 2013 at 7:48am

Did you get the 6% approval on this last deal yet?

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