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#345349 - 07/25/10 07:24 PM Dual Agency - Chase Short Sale??
Lin [*^_^*] Offline
Member

Registered: 04/17/08
Posts: 258
Loc: CA
Anyone has experience with Chase short sales where you're both the listing agent and buyer's agent? I wonder how they'll treat the commission for the agent. Would there be any difference if the buyer's agent is a different person but from the same brokerage? What's the best practice for the short sale where the buyer doesn't have an agent to represent him/her? Please advise.

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#345754 - 07/29/10 07:16 AM Re: Dual Agency - Chase Short Sale?? [Re: Lin [*^_^*]]
minna Offline
Member

Registered: 12/04/08
Posts: 292
Loc: USA
It al depends on who owns the loan. If its Fannie or FHA - you're all set.
If its some private investor you might get cut down to 3-4%.

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#347005 - 08/08/10 12:39 AM Re: Dual Agency - Chase Short Sale?? [Re: minna]
Agent 007 Offline
Major Contributor

Registered: 02/05/05
Posts: 2710
Loc: Las Vegas
Why don't you just have an agent in your office work the buyer's side for you and cut them a piece of the pie? That is what I do when I am working both sides, except I do all the work. Sometimes the banks give me grief about the agents being with the same brokerage, but you just need to stand firm with them.
_________________________
Len McGuirk
Prudential Americana Group
Direct: (702) 203-6688
Las Vegas Real Estate

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#347010 - 08/08/10 05:00 AM Re: Dual Agency - Chase Short Sale?? [Re: Agent 007]
PA Roadkill Offline
Major Contributor

Registered: 11/15/06
Posts: 1984
Loc: The Middle of the Interstate
I guess it depends on exactly what the lender is saying.

If they want different agents on each side of the deal, no problem getting another agent in your office on board.

If they are objecting to dual agency (which is legal in many states), the agency is with the brokerage company, so the 2nd agent would have to be from another office.
_________________________
Broker-Owner Thirteen Years REO Experience
GRI,CRS,CRB,e-Pro

Some days I feel like the bug, other days I feel like the windshield



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