Agent2Agent in California>Question Details

Inna Ivchenko, Real Estate Pro in Encino, CA

2% commission on a short sale?

Asked by Inna Ivchenko, Encino, CA Wed Jan 9, 2013

I see more and more short sales where they offer only 2% commission for a buyer agent.
When I sign a short sale listing I ask for 7%, and usually we get 7 or 6 at least. I want my buyers agent to feel appreciated and be loyal to this transaction.
If a listing agent offers 2% my guess is: the listing agent is too greedy and totally disrespectful and wants to keep all % OR a listing agent is clueless.
My question, would you want to work with such agent?
p.s. I ask only about your personal opinion about 2%( it is not discussion about your client needs and wants)

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Answers

3
Listing agents often utilize the services of experienced short sale negotiators which puts another cost into the equation and may account for why they are offering out a reduced commission. It's hard to say for certain but it's a possibility....
0 votes Thank Flag Link Thu Jan 10, 2013
I think it depends. If the real estate agent is handling the negotiation of the short sale then I think they deserve the extra percentage. I will typically try to get 6% approved from the lender and then pay out 2% or 2.5% depending on the standard for the town I am listing in. I look at it as my listing fee is 2%, 2% for the negotiation of the short sale and 2% to the buyers agent. There is a lot of extra work that is done by the listing agent if they are the negotiator. If I was not the negotiator then I would split whatever the lender approved 50/50.
0 votes Thank Flag Link Wed Jan 9, 2013
It would help to know whether you are a consumer or an agent...?
0 votes Thank Flag Link Wed Jan 9, 2013
A2A post. What do you think?
Flag Wed Jan 9, 2013
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