Just got a listing agreement today for one of my Ocwen properties. They are now asking for a 1.4% referral fee to be paid from the listing broker. They will give you a $700 bonus if you do all your tasks ontime, ie MSRs.

The one thing I noticed is that they are offering 6% and don't specify you have to offer 3% to the selling agent. Does anybody know if it's ok to offer 2.5% , that leaves me 3.5% less 1.4% = 2.1% which is about what I was making before.

These people are crazy if they expect me to work for 1.6%.

It's surprising to me that the lenders are trying to reduce their losses by sticking it to the listing agents. Aren't they the ones that are trying to help you get if off the books?

Doesn't make sense to me.

The buyer's agent always gets 3.00%. Look at the RRES that you have to sign, date and return as part of your listing packet.

Not on this agreement, it's not in there anymore, just 6% to broker. If it doesn't specify, it's mine to distribute as I see fit. We'll see if that's an oversight on their part.

This is an exact quote from the marketing manager in her listing email "Please note: You are required to offer 3% commission to the buyer’s agent. Please make sure your MLS page reflects this compensation correctly".

Unfortunately, they are trying to chop the listing agents at least a couple hundred on each listing.

Nothing on my listing email stating that and nothing in the listing agreement either.

Well you should make sure because you don't want to run to any problems in escrow. They always write in the commissions on their addendum when the offer is accepted.

I always offer 3% anyway.... just saying it wasn't there. I'm sure it's an oversight on their part and it will soon be corrected.

So how many are willing to work for 1.6% if that's the case?

We'll skip and they will lose all their good agents.

You fill in the commission on the addendum not them. They certainly sign the addendum, but this will be a fun test, this house should sell within a week or two and we'll see.

I wouldn't work for those numbers period.

Super, I thought you were one of the agents here that refused to work for Ocwen at all.

Since you're new to REOs, I'm sure eventually you'll get more companies wanting you to work for less than you want. Then you'll have the chance to turn them all down.

1.6%..... plus $700. Depending on the value of the property your selling, you may still come out even.

Once I filled in the commssion on the addendum to reflect 2.5% to me and 2.5% to the selling agent. They changed it back to read 2 to me and 3 to selling agent.

I had a post about this in the other ocwen thread. I emailed my asset manager and he said specifically I get 1.6% and the other agent gets 3%. My new listings is $57,000 so I actually do okay with this structure, but it will suck for higher priced homes.