I'm sick of looking at short sales and seeing Realtors doll up the description such as "this lovely 2 bedroom has original hard wood floors, etc." and then I go look at it and the wood floors are warped and the place is in terrible condition. I think we need to form a pact and start giving better descriptions on these short sales. Even it it's not in the public marks at least the realtor only info. I mean I'm sick of showing these short sales and they are described perfectly but then in terrible condition. Also, how about disclosing on the realtor only information that you have no contact with the bank yet on any offer. That you don't know if this short sale will even get approved. Some realtors are great about this and I don't think you know how some of us other realtors apprecaite it. I know some listings they have "bank has approved this price, etc." and that is great at least it shows me that I'm not going to completely waste my time and $2.75 a gallon going over there.
Has anyone dealt with commission splits on short sales for houses or condos going for real cheap? I have a particular short sale listing I'm working and this thing isn't going to go for more then 20k and obviously 3% of that is $600. Now obviously working a short sale, calling lenders, etc. it seems like a lot of work to make $600. You factor in the time involved and your hourly rate is probably somewhere in the minimum wage range. I'm curious if anyone out there has worked a deal on something like this and wrote in a 2k commission or something minimum. Is this possible? Let me know if their is any other way or if it's just $600 take it or leave it. Thanks!
Also, Central Florida Realtors list your home for FREE on ItsYourSale.com you will see additional exposure and your listing on the front page of google in no time when you type in your listings address. I guarantee it!
I have a friend that has been working the same job for the last three years, has over 30k in savings, lives alone, and has good credit. However, they just renewed another year on a 1100/mo 2 bedroom 2 bath apartment. As a realtor I'm offended personally. Especially since in this market I can put them in 2/2 and their payment can be less than half that amount.
My question is why are people scared to purchase? How do you make it make sense to someone like this?
I recently had a buyer that really loved a home and put it under contract in the Kissimmee, Florida area. The home was a 3/2 with a pool backed up to a conservation area and went pending at 162k. The area is a short term rental subdivision, much like most in the Disney Area. The appraisal came in five days before closing and it came in at asking price but Colonial Bank had an additional review process that later said "NO GO" on the loan. The buyer backed out because he now felt it was a bad investment. My question here is does the buyer get the escrow refunded? Is this something that this financial institution wouldn't approve because of their lending guidelines or do you think every bank would of made this decision? Let me know your thoughts on what happened here and how do you move forward when something like this happens? You show properties that match your clients specific needs only for the bank to screw you over and make you look like a bad person to your client.............
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