Here's a real eye opener for most consumers who are 100% completely oblivious to the facts about real estate commssions and the effortless savings they can receive with simply choosing to work with one realtor over another.
Google search: ORLANDO REALTOR REBATES
And what do you find? Only About 2,010,000 results (0.34 seconds)
Ask some of these professionals about the situation
Mortgage Broker Responds.
Credit Unions? Big Banks, Good Luck with that route here in 2013!
Here's a good, easy, quick test to see who can do what. Cut and paste the programs below and send them to 5 credit unions and 5 banks. Ask them how many of these programs they can offer...and you'll have your answer.
1) 100% LTV- VA - pay off debt at closing on a purchases!
2) 100% LTV- USDA - 12 mo. into Chapter 13 BKâ€¦OK Too!
3) 99% LTV- FHA
4) 97% LTV- NEW- No PMI -No FHA 1.75% MIP Fee!
5) 95% LTV- NEW-No PMI!
6) 95% LTV- NEW-CONDO Loan
7) 90% LTV- NEW-No PMI -2nd Home
8) 90% LTV- New-Jumbo w/cc
9) 85% LTV- NEW- No PMI to Super Jumbo
10) 80% LTV- Rental Property
Stated Income Alt Loan programs
11) 80% LTV- to Super Jumbo
12) 80% LTV- FIX nâ€™ FLIP Invest. Prop. â€“ No min. credit!
13) 75% LTV-to Mega Jumbo
14) 75% LTV- Foreign Nationals-to Super Jumbo
15) 75% CLTV-after Short Sale, BK, Foreclosure to Super Jumbo
16) 70% LTV- Hard Money to Jumbo
17) Lot Loans / Land Loans Too!
Go to: http://WWW.PRO-OPTION-COM or call 888-662-4404
Before I reply can you tell me a little but more about the services your company does and does not provide you? There are a lot of factors that go into the compliance fee - most companies I know charge at least $300. For example at my office (RE/MAX Town Centre) you cannot waive the transaction fee, however I also do not get charged a "marketing" fee on top of my commission. So if I had an 85% split its a REAL 85% split. My office also is by far one if the nicest I've seen and I have a large support staff. When I was at Prudential Florida Realty they would NOT charge the compliance fee on certain transactions (ie: short sales, etc) but you had a 6% marketing fee on each of your deals. As a former manager I can tell you that it's extremely expensive to run an office so that fee is a give and take. Do you have a great brand behind you? Do you have support staff? Nice office? If you ever want to chat don't hesitate to contact me. I'm not a recruiter but I'm familiar with all the major franchises and maybe we could brainstorm a company that's a better fit for you?
The guy that does my lawn, he's see's himself a real estate expert also, since he does mow a lot of grass and offers copious advise on how the real estate business works.
Seems everyone is a 'self-declared' adviser on what the structure of the real estate industry is or should be. Then to 'whisper,' it's a secret call me is a most offensive of all.
There are no little secrets. There most certainly DOES exist distortions of the truth.
Some real estate enterprises have established a business policy recognizing the principle "you simply can't stay in business giving stuff away."
If resources are used to market a home, these companies want those expenses paid for. For instance, when you finance a house, the lender may require a survey. Does the mortgage broker pay this? Does the bank pay this? No, the citizen pays for this. The same is true when your home is advertised, when the home tour movie is made, the back story is written, the social network is engaged, the broker event hosted......these are all expenses that must be paid by someone. Your HVAC technician, appliance repair, and most contractors also require at the very least a trip fee, a co-pay, or office fee when they are required to spend their time and resources. After all, they are engaged in a business, not a hobby.
IN additions to these expenses real estate professional MUST pay, some mortgage brokers try to get into the real estate agents pocket by compelling the agent to fund the mortgage companies or broker fee.
One could assume the mortgage broker believes that if 'someone else pay the junk fee on behalf of the buyer, they do not exist! There's a cold hard truth.
Usually this shell game is a 'one way' exercise where ONLY real estate agent funds are involved! It seems everyone else in the business is being paid for the costs they incur. Some even choose to extort funds from others. When the real estate agent exercises the same discipline, questions appear regarding, "Who will do it for FREE?"
Why is their an expectation that real estate professionals should spend freely when success really depends on the decisions the homeowner makes? Success really depends on the home buyers ability to make a decision? There are seven parties that determine if a real estate transaction will fail or succeed, and the agent, being only one of the seven, is expected to pay for them all! Do you not see how ironic this distortion is?
Most real estate companies, mine included, unfortunately, still operate on a hobby model. If a seller changes their mind, they have the freedom to cancel the contract and no fees apply. The costs I incur, however, remain real and must be paid, by me!
Many of the home owners who have grown to trust be, began their experience realizing there are no fees, junk fees of any kind, whether imposed by my broker or other source, will be passed on to them.
Junk is Junk, regardless of the label applied. When a home buyer or seller just 'changes their mind' they have rendered all the effort and expenditures of the real estate agent, JUNK! And you apparently believe that is OK.
Now, this is one of the great things about real estate. The home buyer and seller DOES have a plethora of choice. You can:
2. Pay as you go,
3. Pay up front,
4. pay at closing, or
5. not pay at all.
Each choice has benefits and consequences. But you do have a whole world of choices. And there are no little secrets that are kept in the dark shadows regarding the real estate side. Simply state what you want and you would be surprised how quickly the solutions will come to you.
If only the mortgage business was as transparent. If you want to avoid all the 'fees in disguise' piled on by many mortgage brokers, go as quickly as possible to the nearest credit union. They are 'hands down' the lowest cost provider of home mortgages. Even E-loan has proven highly effective. Now that's some cold hard truth.
There most certainly is a 'cold hard truth. The truth is you do have choices. Local lenders are valid options also. Simply enter you zip or city and choose an "A" or "B" graded lender.
Best of success to you,
Annette Lawrence, Broker/Associate
Remax Realtec Group
Palm Harbor, FL
If you want the cold hard truth about this subject, contact me, a Florida Mortgage Broker. Email me at Steve@pro-option.com
Unlike others, I will share info with you that nobody else has or would be willing to share.
Why would a Mortgage Broker be willing to share this info?
Why would a realtor, new to the scene, step in after a Mortgage Broker has worked with a borrower for 10 months, thru 4 properties and have a massive amount of time invested in the borrower, have the unbelievable nerve to coerce and steer that Mortgage Broker's clients to that new realtor's "Preferred Lender?"
Best of luck to you,
These fees extra junk fees are usually chaged by franchises that pay their agent 100 %
If you are a buyer and want to work with a buyers agent with no fee to the buyer then get in touch