Guidelines are Ridiculous
April 23, 2010 / /
Fred Weaver, Short Sale Trainor, and Coach Collard relive a commission negotiation story. The story showcases why bank guidelines are just that – guidelines and aren’t written in stone.
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About the Authors
Kevin Kauffman & Fred Weaver
Kevin and Fred the founders of Group 46:10. Over the last 10 years Kevin and Fred, and their team have closed tens of millions in real estate all over the country and have created some of the best training for agents in the market. Kevin and Fred are also highly sought after teachers whose work has helped agents all over the country build their own next level real estate business.
The guidelines are written in order to lower labor costs by training low cost unskilled labor to handle the busy-work and the job of collecting or “scraping” as much as they can to maximize their return, even when the offer is well-within the acceptable range for the investor.
A company manual. BLAH!
CRUSH IT!
is negotiating commissions as hard to negotiate as the minimum % required for lien releases? they’re driving me crazy with the “standards”
Hi Fred & Kevin
Do you have a vidio that talks about the seller who does not file tax returns. Single, has not worked in 2 years and no income. I know you had a letter that says something. Is it as easy as just stateing tht i have not worked for 2 years and no income, therefore I have not filed tax returns.
Also, is there a vidio about 2nd that have PMI. I am dealing with BofA negociator who has 1st & 2nd and saying that the 2nd will not take the $3,000 offer because they have PMI. What can i do about this?
Thanks for your help.
Julie
Just stumbled on to your powerhours. Love these videos! thanks
have a nice weekend!
I’m sharing the love today….
Great insight Jon!
Saying “Crush It” will always get you a Shout Out Wendy 🙂 Love it!
Marisa: I encourage you to go back and watch more of our past videos, specifically ones from November where we taught on the “Outback.” These videos will help you understand the Short Sale world better and give you a better context around things. In regards to your question about negotiating commissions….the Short Sale decision is ALL ABOUT savings over foreclosure therefore if they’re getting the minimum net they need (savings over foreclosure) you can rightly earn your full commission.
Julie: You answered your own question about the tax returns – that’s Outback! Don’t over-think it. If the borrower doesn’t have something, get a letter stating what they don’t have and why. There are no videos on SSPH about 2nd that have PMI because that conversation cannot be had in 10 minutes or less. We do cover that in our Audio/Video package that is for sale at http://www.shortsalepowerhour.com/estore
Tasha: Glad you found us and thanks for watching! 🙂