Comments on: Short Sale Commissions

By: Failure Friday: What I did Wrong This Week | Struggling to Get Started

Failure Friday: What I did Wrong This Week | Struggling to Get Started — Sat, 06 Feb 2010 02:01:54 +0000

[...] who may have some short sale listings. I’ve described this in detail here in this post, Short Sale Comissions. After two weeks of posting ads, I finally was contacted by someone who had a few short sales. [...]

By: Nick Johnson

Nick Johnson — Sun, 17 Jan 2010 21:29:40 +0000

LeJon, it's certainly not my blog/site but I'm more than go over a few of the thing with you sometime. I'm sure you know how to get in touch with me by now

By: Tweets that mention Short Sale Commissions | Struggling to Get Started -- Topsy.com

Fri, 15 Jan 2010 00:52:10 +0000

[...] This post was mentioned on Twitter by Nick Johnson and Greg Harris, LeJon Ratchford. LeJon Ratchford said: RT @StrgglngInvstor Short Sale Commissions http://ow.ly/1n0vSH [...]

By: LeJon Ratchford

LeJon Ratchford — Thu, 14 Jan 2010 20:57:04 +0000

Sounds like a rather profitable way of doing business. Your team? Does it consist of Real Estate Agent? You and a negotiator? This area I plan to learn soon, I have a colleague with a negotiator, how do I determine if they are good negotiator or not. Sorry if this is the wrong area for these questions.

By: Nick Johnson

Nick Johnson — Thu, 14 Jan 2010 20:37:30 +0000

Here's how it works.

Scott get a short sale listing and that awards him a 3% listing fee

Scott then represents me as a buyer to that short sale awarding him another 3% buyers agent fee totaling 6% so far.

My team handles the negotiations and submits the offer on the A-B side

During which time, Scott then re-lists the property for me getting another 3% as a listing agent totaling 9% now. Now, we're on the B-C side of the transaction. While my team is negotiating, offers will come in and we'll accept, get the approval letter from the lender, go to title purchase the property on the A-B side, then immediately resell on the B-C side.

Scott does nothing but get commissions ,I get paid from the profit spread created by my team and my team gets paid out directly by me once its all done and over with.

does that make sense?

By: strugglinginvestor

strugglinginvestor — Thu, 14 Jan 2010 20:06:30 +0000

From what I understood Nick to be saying is that he is going to buy the property if the banks come down to his price. Then he'd pay me my agreed to agent commission. As for how he is going to find a buyer that is a question I'll have to ask him the next time we chat.

By: Carey_PA

Carey_PA — Thu, 14 Jan 2010 19:43:31 +0000

So Scott, I'm assuming you're just listing the property the way a normal agent would and when you get an offer (or perhaps before I don't know how Nick works) they handle the negotiations?

So Nick and you aren't paid until the deal is settled and sold, agreed? (I mean I know that's true for you…..)

By: Nick Johnson

Nick Johnson — Thu, 14 Jan 2010 06:53:21 +0000

whatever it is you end up doing, simply doing something and taking action will quickly bring you results!!!!