Foreclosure in Jupiter>Question Details

Kimberly Ber…, Real Estate Pro in Jupiter, FL

Are banks/lenders paying reasonable commissions to brokers on short sales?

Asked by Kimberly Berman, Jupiter, FL Wed Apr 16, 2008

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9
It depends on what you call reasonable. The norm from what we've seen 2-2.5%. The pay is usually lower and the time spent is usually higher.

Shannon Moore, Realtor®, 941-276-8142
Roxanne Moore, Realtor®, 941-626-3926
Re/Max Anchor Realty
http://www.TropicalFloridaProperty.com
http://www.TwoMoores.com
1 vote Thank Flag Link Wed Apr 16, 2008
Some pay the 6% and some do 5%. Some seconds will push for 4% even though it does not give them any more money
Web Reference: http://mypbchomes.com
0 votes Thank Flag Link Fri Dec 4, 2009
I am finding that the max they are willing to pay is 5%, I suggest in your listing that you put in agent comments that commission is 5 - 6 % depending what the bank allows. Also, be careful about additional liens on the property such as HOA fees and lawyer fees.
0 votes Thank Flag Link Wed Apr 23, 2008
I have not had a problem with the banks. Just make sure to bring them a close to market value offer and they normally have no problem agreeing to what your sellers agreed to
0 votes Thank Flag Link Wed Apr 23, 2008
Yes, I've found that they will pay market commission ( 6%). However, for the amount of work that goes into putting a short sale together, they should pay us more. I like Mr. Whitehouse's recommendation.
0 votes Thank Flag Link Tue Apr 22, 2008
We have seen most at 2 1/2 each side. Our local board just passed a ruling that what is offered in MLS is what the Selling Broker must pay the Buying Broker. Banks should not be able to change what the original contract says.

Tony Lyerly
Reno, NV
Web Reference: http://www.TonyLyerly.com
0 votes Thank Flag Link Tue Apr 22, 2008
Yes the banks will pay what is typical for your area. So if your area is a 8% area then you will probably get that. However if your area is a 6% area and you ask for 8% you probably will not get it.
0 votes Thank Flag Link Tue Apr 22, 2008
Hi...Kimberly
Recently a colleague of mine listed a short sale at 8% and got it!. So i feel due to the amount of work required we should all list quite high as we can always negotiate down but rarely up.
Best Regards Paul Whitehouse.
Web Reference: http://www.paulsold.com
0 votes Thank Flag Link Tue Apr 22, 2008
Kimberly,

I've seen reasonable commissions of 5% being paid, I heard of sometimes 4%. Some Lenders will establish a set amount that they want to pay but it will be up to the agent to stand up for their commission and negotiate. .
0 votes Thank Flag Link Wed Apr 16, 2008
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