Yay!

My asset, which we had listed for $249,000 (hahahaha) was auctioned with the minimum bid of $49,000.

It sold for $175,000! Yay!

Oh man...talk about minimums!

The commish on an accepted sales contract purchase price went over listing threshold by $20 (a Jackson). This equated to me paying the $320 or 50% of client management fee split for the coop agent.

If only some clients took all their cuts (referrals) off the top and evenly split the remaining funds for commisision, I believe that would more equitable...but that is not what I agreed to. In getting the asset from pre-market to escrow and sale, the manhours are little noticed by anyone but ourselves, along with the interest free property maintenance services advanced. GRC though has paid on agreed terms, but others are now aging some 60 to 120 days. In general has any one else seen a cash flow reduction in AR from clients?

I like working with them but its generally a skinny deal.

All of mine are through Rio.

I just got two that are going to auction and they are through RIO. I had these listings with Countrywide and now they are going to GR. However one is in a really bad area, and had all windows boarded up plus no power. The power can not bee turned on because they stole the electric meter from the house. The electric company can not put in a new meter because they caused damage when they stole the meter. Countrywide would not pay to fix it, so how I am supposed to hold a pitch black dark house open.

Do you get a commission if they go to auction or not?

Yes.

You hire a housitter. Someone who lives in that neighborhood. They reimburse you $100 per open house to pay the housesitter. They sit in the front yard on a lawn chair and tally all of the people who come and have them sign the sheet.

If you get someone who lives in the neighborhood to do it, they won't think it's scary - they already live there!

Your commission is 1% of the auction price.

Thanks Auburn, that is a great idea. I appreciate it.

Oh, and don't forget, they cut reimbursement checks on the 1st and the 15th. Pffffttttt!

Some pay 2%, but the majority of there homes pay only 1%.

They do not pay to house sit but you can give out your bussiness cards as per meeting last week in Sarasota. I told them I would rather have the %1 and the 100 dollar house sit fee versus the %2 house is only gona go for $20,000

I have been signed up with GRC for a few months and nothing.

What are you talking about? I am sooooo confused!

Hmm..

Well when they have REDC auctions http://www.ushomeauction.com they pay $100 per open house for a sitter.

If you have 25 properties go to auction you can't be at all of them at once, you know?

25 would be huge, has anyone ever had that many homes with them? I had 12 in February, but this time only 5.

It would be nice to get reimbursed on my open houses soon... that was a lot of scratch to hand out.