Comments on: Short Sales: A Commission Modification Agreement can protect agents from liability http://lawsongroupmediation.com/short-sales-a-commission-modification-agreement-can-protect-agents-from-liability/ Short sale articles for real estate agents and investors Fri, 27 Aug 2010 00:06:44 +0000 http://wordpress.org/?v=2.9.1 hourly 1 By: Ken Lawson, JD http://lawsongroupmediation.com/short-sales-a-commission-modification-agreement-can-protect-agents-from-liability/comment-page-1/#comment-35 Ken Lawson, JD Fri, 27 Aug 2010 00:06:44 +0000 http://lawsongroupmediation.com/?p=252#comment-35 Not all loans are owned by Fannie Mae. Additionally, not all servicers abide by the (secondary market) investors' rules. So, while you may be right in that regard, we run into many situations in which the servicer attempts to reduce agents' commissions to 5-, 4-, even 3.5%. Thanks for your comment. Ken Not all loans are owned by Fannie Mae. Additionally, not all servicers abide by the (secondary market) investors’ rules. So, while you may be right in that regard, we run into many situations in which the servicer attempts to reduce agents’ commissions to 5-, 4-, even 3.5%.

Thanks for your comment.

Ken

]]> By: Bill Carmichael http://lawsongroupmediation.com/short-sales-a-commission-modification-agreement-can-protect-agents-from-liability/comment-page-1/#comment-34 Bill Carmichael Thu, 26 Aug 2010 23:37:29 +0000 http://lawsongroupmediation.com/?p=252#comment-34 Well, aren't fanniemae servicers required not to reduce commissions below 7%? I just read that in thier Servicing Guide dated March 2009 part VII section 504.02 Well, aren’t fanniemae servicers required not to reduce commissions below 7%? I just read that in thier Servicing Guide dated March 2009 part VII section 504.02

]]> By: Ken Lawson, JD http://lawsongroupmediation.com/short-sales-a-commission-modification-agreement-can-protect-agents-from-liability/comment-page-1/#comment-33 Ken Lawson, JD Wed, 04 Aug 2010 16:09:11 +0000 http://lawsongroupmediation.com/?p=252#comment-33 Thanks for your comment, Dave. Ken Thanks for your comment, Dave.

Ken

]]> By: Dave Arnold http://lawsongroupmediation.com/short-sales-a-commission-modification-agreement-can-protect-agents-from-liability/comment-page-1/#comment-32 Dave Arnold Wed, 14 Jul 2010 20:04:00 +0000 http://lawsongroupmediation.com/?p=252#comment-32 I think that this is a most elegant solution. Agents are myopic and protective about their commission but quite often lose sight of the fact that, in a short sale, the commission is not controlled by the listing agreements and the industry, as in the usual market transaction. With the bank or note servicer as a force to be dealt with, agents have to agree to agree and be thankful there is any money at all. The agents I talk with complain mightily of deals gone bad. Well, it turns out they go bad because of greed and lost opportunities. Making $500 is better than making zip. Thanks for the sharing of your experience and solutions. David Arnold, J.D. I think that this is a most elegant solution. Agents are myopic and protective about their commission but quite often lose sight of the fact that, in a short sale, the commission is not controlled by the listing agreements and the industry, as in the usual market transaction. With the bank or note servicer as a force to be dealt with, agents have to agree to agree and be thankful there is any money at all.

The agents I talk with complain mightily of deals gone bad. Well, it turns out they go bad because of greed and lost opportunities. Making $500 is better than making zip.

Thanks for the sharing of your experience and solutions.

David Arnold, J.D.

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