Banks Make More With Full Commissions
April 21, 2010 / /
Fred Weaver, Short Sale Realtor, and Coach Collard give sound reasoning on why banks should WANT to pay full commissions.
Plus, some information on which banks do pay full commissions as part of their guidelines.
HOW TO CLOSE AT LEAST 3 DEALS IN THE NEXT 90 DAYS
Get instant access to our online masterclass to learn the simple steps.
HOW TO CLOSE AT LEAST 3 DEALS IN YOUR NEXT 90 DAYS
Get instant access to our online masterclass to learn the simple steps.
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.
WOW, really? No comments on commissions? Really? It’s a sad day!
WAKE UP PEOPLE! GET YOUR HEAD OUT OF THE SAND, and STAND UP AND FIGHT FOR YOUR COMMISSIONS! Technically, KNOW MORE THAN YOUR OPPONENT!
Ok… I’ll calm down no. Well, no, wait, no I won’t!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
Banks should want to pay agents their full commission. They should take the position that the agent is working with the buyer and the lender to maximize the sale price and the proceeds of the sale, just like all ethical Realtors do on every “traditional” transaction.
By taking the adverserial position they force us into seeing them as the “enemy” not as a legitimate party to the transaction.
Take a look at this from FreddieMac;
http://www.freddiemac.com/singlefamily/news/2010/0412_payoff_fraud.html
This is the ultimate degeneration of the client/agent relationship. Now the lenders are looking at us like criminals.
Maybe this is a dumb question but I have heard agents send a package to the bank asking for a commission higher than 6% in hopes of getting 6%. Is that something you all do or suggest?
Keslie: We don’t send a package asking for more than 6% but we used to. It’s all about negotiating your rightful commission and in the Outback there’s not a “right” or “wrong” way to do it. Try different methods and ultimately choose the one that you like/produces the most results!