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 lbrodeur1965
Joined: 21 Dec 2008
Posts: 7
3.81 Dollars($)
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 Posted: Mon Dec 29, 2008 7:23 pm Post subject: Realtor Commission Fees |
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| In short sales, can the banks alter the amount of commission a realtor gets for the sale? |
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jameshogg
Joined: 20 Dec 2005
Posts: 4291
Location: nevada
509.34 Dollars($)
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| Posted: Mon Dec 29, 2008 9:34 pm Post subject: |
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Hi lbrodeur,
As far as I know, the banks can negotiate with the realtor with his fees but it cannot directly alter the amount of commission.
Thanks |
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gmakerley
Community Mentor
Joined: 09 Nov 2007
Posts: 7448
Location: bloomfield, ct
70.12 Dollars($)
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| Posted: Tue Dec 30, 2008 8:11 am Post subject: |
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interesting question. if a listing realtor discloses that a selling realtor would be paid "X" per cent commission on a sale of a home, that listing agent (or broker) is liable for that payment, regardless of the outcome of a short sale. this, at least, is the rule here in connecticut (based on legal opinions i have heard).
i've never heard of banks negotiating commissions with realtors.
unfortunately, with short sales, there isn't a whole lot of money to be made by anyone; though realtors will still be able to walk away with a check.
_________________
George M. Akerley
Loan Consultant
860-221-5044 |
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