i have a question....

does anyone have experience working a shortsale and getting both sides of the commissin on a 6% deal? if so, does the bank fight you on hte commission?

i have noticed that the bank has not been fighting on the commission latley for 2 agents who are involved on a 6% deal, but was wondering if anyone had any knowledge on 1 agent involvment.

thanks in advance.

I've found if only one agent is involved the bank will negotiate the commission down.

The commission rate usually depends upon how much the bank is losing. They generally understand that the buyers agent is expecting the usual rate for the area but will often bring the listing agents side down. If that doesn't nett them what the need then both sides take the hit.

Assett manager's JOB is to get the highest NET possible to keep losses low.They actually get performance bonuses based on reaching certain criteria parameters with there files.

When I did them for 3 years my experience was this.

If there were 2 brokers involved somtimes they would pay 6 percent and other times they would pay 5.0 percent.If there was one broker involved the most they would pay is 3 percent.If you tried to sneek in 6 percent or 5 on the HUD for one broker the AM would void the whole closing.

Could you possibly get 5 or 6 percent on a short sale for yourself.Maybe but I haven't seen it in all the ones I have done and if it did happen it was more than likely an oversight by the bank.

Now I am talking about short sales here not REO's where it's common to double-end.

My thoughts on short sales is I always WANTED a buyers broker on the other end of the deal. After all if I am going to get paid only for one side why do I want to do both sides of the deal in work just to please the bank? Forget that!

Now if I was purchasing as an investor for myself that's a different story.

With our real estate team here in Minneapolis, we have not had alot of success getting 6% if we represent both sides.

Banks really seem to hammer hammer hammer....and whittle you down on commission.

However, in this market with so many homes for sale, some commission is better than no commission at all

How does 4.2% grab you? I'm soooo glad my clients didn't like the house. I wasn't surprised that there was only one other business card there.

There is an agent in my office that works a lot of short sales and REOs, he gets hammered about commission quite a bit.