2% commission on a short sale?

Asked by inna ivchenko, Calabasas, 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
Barbara Gran…, Agent, Anaheim, CA
Thu Jan 10, 2013
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
Jennifer Eri…, Agent, Wilmington, MA
Wed Jan 9, 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
Cindy Davis, Agent, San Diego, CA
Wed Jan 9, 2013
It would help to know whether you are a consumer or an agent...?
0 votes
A2A post. What do you think?
Flag Wed Jan 9, 2013
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