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Maureen Francis, Birmingham MI
MVP'08
"Tech Savvy Oakland County Realtor"
- 482 Helpful Answers
- 796 Answers
- 4 Blog posts
Locations:
Profile Link:
Experience:
Associate Broker for SKBK Sotheby's International Realty
July 2001—present
Residential real estate Memberships in: Metropolitan Consolidated Association of…
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Residential real estate Memberships in: Metropolitan Consolidated Association of…
Specialties:
We specialize in luxury homes, first time buyers, and innovative marketing for sellers.
Certifications
& Awards:
& Awards:
e-Pro, Top 12 Women Real Estate Blogger 2007, Trulia MVP 2008, Women's Council of Realtors Top Technology Innovator 2009, 2009 Trulia Mayor, Director of
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Interests:
Growing heirloom tomatoes, reading, technology, family.
About:
Thank you to all of our great clients who made 2008 our best year in real estate!
Today's South East Michigan real estate market is like no other we've ... show more
Today's South East Michigan real estate market is like no other we've ... show more
Testimonials:
"Maureen is a local expert who has helped a number of my clients with real estate transactions in and around Birmingham/Bloomfield/Troy. She utilizes technology
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Maureen Francis, Birmingham MI answered:
I noticed you are asking this as a buyer. If you have a buyer's agency contract, it probably defines how your agent is getting paid and by whom.
In the case of a short sale, most often the bank will approve compensation for the buyers agent to be paid at closing. They may change the amount that was originally advertised in the MLS. If you signed an agreement that says you will pay x% and the bank approved less than x%, you might be responsible for paying a partial commission.
Unfortunately, the bank's don't make their intentions about commissions known until the end of the process. One notable exception is Fannie Mae backed loans, where they will typically not change the compensation to the brokerages.
In the case of a short sale, most often the bank will approve compensation for the buyers agent to be paid at closing. They may change the amount that was originally advertised in the MLS. If you signed an agreement that says you will pay x% and the bank approved less than x%, you might be responsible for paying a partial commission.
Unfortunately, the bank's don't make their intentions about commissions known until the end of the process. One notable exception is Fannie Mae backed loans, where they will typically not change the compensation to the brokerages.
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MVPs or 'Most Valuable Players' are key Trulia Voices members who have been contributing high-quality content throughout 2008 and providing valuable advice to consumers and real estate professionals.
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