"...especially when the listing Agent has done all the showing, meeting with the Client--and--then! A buyer's Agent shows up to submit an offer. That happened TWICE today!
...and..especially when the "Short Sale Specialist" new buyers…"
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In NJ, Some Listing Agents Keep More of a Percentage of the Listing Commission for a Short Sale. What do you do?
Started this discussion. Last reply by D BUSH Feb 27. 7 Replies 0 Likes
For instance, if the Commission is 6%, the split is 2.5% to the buyer's agent and 3.5% to the Listing Agent. Continue
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D BUSH replied to Barrington Palmer's discussion In NJ, Some Listing Agents Keep More of a Percentage of the Listing Commission for a Short Sale. What do you do?
Maggie Hood replied to Barrington Palmer's discussion In NJ, Some Listing Agents Keep More of a Percentage of the Listing Commission for a Short Sale. What do you do?"I have been getting 6% commissions on all short sales I represent the seller - I decided last year that for all the extra work I do I take 3.5% and offer selling agents 2.5% in the MLS. I have had agents ask me why the commission is only 2.5%…"
Chuck Fleischer replied to Barrington Palmer's discussion In NJ, Some Listing Agents Keep More of a Percentage of the Listing Commission for a Short Sale. What do you do?"It's my experience that the LA does a lot more work than the BA on a short sale (I've done both.) And, often the Lender will dictate both the commission they are willing to pay and base it on their net proceeds. In TX it's up to the…"
Joanne Putnam replied to Barrington Palmer's discussion In NJ, Some Listing Agents Keep More of a Percentage of the Listing Commission for a Short Sale. What do you do?"Most companies require you to split your commission 50/50. They may be getting permission to change the split. I would hate to offer a 2.5 on 6% commission only to see that it has been adjusted on the HUD statement. I have seen that happen."
JOYSIELYN HOWARD replied to Barrington Palmer's discussion In NJ, Some Listing Agents Keep More of a Percentage of the Listing Commission for a Short Sale. What do you do?"In my opinion the listing agents deserve that split specially on short sale. It's a lot of work doing the short sale."
Obed Montez replied to Barrington Palmer's discussion In NJ, Some Listing Agents Keep More of a Percentage of the Listing Commission for a Short Sale. What do you do?"How do you know what the listing agent is getting? Will s/he lower the percentage if the banks lower the commission, or s/he paying 2.5% no matter what the percentage is at ecrow."
Angela Alfe replied to Barrington Palmer's discussion In NJ, Some Listing Agents Keep More of a Percentage of the Listing Commission for a Short Sale. What do you do?"Is the listing agent doing all of the short sale work?
I personally believe that all of the work entailed in doing short sales deserves more than .5%, but that's me."
Barrington Palmer posted a discussionIn NJ, Some Listing Agents Keep More of a Percentage of the Listing Commission for a Short Sale. What do you do?
For instance, if the Commission is 6%, the split is 2.5% to the buyer's agent and 3.5% to the Listing Agent. See More
Barrington Palmer commented on Kirk "Wayne" Smith's blog post TIPS ON SUCCESSFULLY COMPLETING A SHORT SALE TRANSACTION"Make sure you complete every single document the Bank requires. Check it once, check it twice, check it three times before you upload. This causes delays, frustration on the part of your seller, and your buyer gets annoyed as well."
Profile Information
- Occupation
- Realtor, Home Owner
- Areas You Service (be VERY specific specific and include ALL counties, cities, states, and towns you service!)
- Ivy Hill, Newark, Essex County, NJ. East Orange, Essex County, NJ. Irvington, Essex County, NJ. Clifton, Passaic County, NJ.
- Short Sale Designations and/or Special Training
- SFR (Short Sales and Foreclosures Resource), CDPE (Certified Distressed Property Expert)
- Website
- http://www.njrealtoressex.com
- Short Sale Transactions Completed
- 5-10
- Do you have any experience in Commercial Real Estate? If so, do you have the CCIM or any commercial designations? How many commercial transactions and dollar volume have you CLOSED?
- No
- About Me/Profile of yourself: - Please add your Brokerage Company name also!
- My clients come first! I promise them Service, Integrity, Honesty, Loyalty and Hard Work. I have over 4 years experience serving clients either selling or buying. I am professionally prepared to assist you through the Short Sale process because I have received the National Association of Realtors Short Sales and Foreclosure Resource Certification and HAFA. I am also a licensed Practical Nurse and this experience has taught me empathy that I also use to support my real estate customers.
EXIT Platinum Realty
200 Claremont Ave
Montclair, NJ 07042
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- February 18, 2012
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