Urgency & Commissions

Having earned commissions most of my adult life; I appreciate purchasing from those who do also. This is true when shopping for clothing, electronics and even automobiles. When deciding between restaurants, my wife and I consider the service we expect to receive. I strongly believe that those who have a direct financial gain (or loss) from my experience will work harder to exceed my expectations!

I have been representing a seller on a REO home. They discounted the property for a quick sale. In return, they expect the buyer to have a sense of urgency. There is a monetary per diem, which is usually imposed if the buyer does not close when agreed.

The buyer decided to go to a large bank and use a loan originator, who earns a salary rather than a commission. It seems that there has been no sense of urgency and the loan is priced equally to one where a commission is earned. The buyer wants into the home A.S.A.P. and is frustrated. They are being told, "Standard FHA loans take 45 days".                                                                      

Now, they are requesting a two-week extension along with a request to waive the per diem. This is frustrating, as they state, "the loose ends are taken care of". I am sure that if this L.O. were earning a commission, they would push to get it closed for the month! Now it seems that the quota is met, so this one should roll to the next month.

This experience fortifies my opinion about dealing with commission earning sales professionals.