Broker's own short sale.

Asked by Christalo Loffredo, Rye, NY Wed Nov 11, 2009

If a broker is selling his own house as a short sale, but the bank won't allow him to represent himself, can he have another broker take this on and then receive a commission check minus $500 (for their trouble) to the 2nd broker?

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Keith Sorem’s answer
Keith Sorem, Agent, Glendale, CA
Wed Nov 11, 2009
Love the question.
If the lender finds out that the seller, in a short sale, gets anything under the table, that is fraud. Let's be real....if a broker needs a short sale, then they should not expect to get any money.
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Patrick Thies, Agent, Anytown, IL
Wed Nov 11, 2009
Another agent could receive the commission but not the seller. The commission would have to be disclosed on the RESPA and sellers in short sales can not walk away with any money at closing.
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