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National Default Servicing only pays 2% and the selling agent 3%.
How do you get them to go up or do a 50/50 split? They told me if i don't do it for the 2% they would just find another agent.
Why pay the person who has all their money tied up in utilities and advertising less money?
I take the ones that are 5% - 6% Listing Agreement and I do not pay utilities. I have been fortunate that I have not had to take ones that require you to jump through too many hoops and pay you only 1 or 2 % to listing. I have been on the selling side where I was screwed and the listing agent took all of the commission except 1% wont do that again either. There are agents out there that have listings like that and many of them I just choose not to.
I take 5% listings too, well because that is all they offer but in the listign agreement it says straight out Listing agent 2% and selling agent 3%.
I tried so many things to get around that but in the end they make the title company cut separate checks so we cant control the commissions :(
I haven't had to do that yet. Thanks goodness. So I hope this company is sending you lots of listings. There ar people in my office that do.
Such a deal!!
AND.....you don't incur any tax consequence, either!
Since I posted on May 16 until now May 23. I have done 1 BPO and received two more REOs.
A big part is not what you pay, but what your history of BPO, REO / distressed property work has been.
Agents may think they are GIVEN REOs, not quite you have to earn them. Plus keep the REO clients profitable too.
Best of luck
I'm sure it happens to a very few handful of agents and i bet you are in a much busier REO market than the rest of us.