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  1. 07-17-2009, 10:36 AM #1
    BSS2T
    BSS2T is offline Fixer Upper
    Join Date
    Feb 2007
    Posts
    87

    Default Need some advice!

    I have been an agent since August of 05. At the beginning of 2006, I began to work in a model home with a builder developer. The builder developer's wife is an agent and became my team leader. About a year and a half ago, the developer's wife opened up her own RE company, and I moved my license.

    There have been no problems until this month. We have a transaction together that worked like this. During my day at the model home, she received a phone call from someone interested in one of the houses. She told them to come to the model home to see me. The people came to the house, I showed them property, and then she shows up to answer questions (she is also listing agent and part owner in the construction company). We get the deal signed. The MLS states that there is 2.5 on the buyers agent commission, and 2 on the listing agent. As soon as the people leave, she informs me that "there is not enough money on the house, and that we have to split the commission 1.5 and 1.5.". This has never happened before. I wasn't happy about this, since I feel that I am taking a reduction of reward (commission) when I don't really have a stake in their company.

    Then today I am informed that they may have to do an owner financing deal, since the people have a foreclosure on their credit, and that there would be no commission. I really don't feel like she would do this with any other agent.

    Can you guys give me some advice here? What is normal commission, if any, on an owner financing transaction? Would you guys leave the company? Who would sue?

    Thanks so much for your help.

    Brad.
    Follow up, follow up, follow up, follow up untill they BUY or DIE!!
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  2. 07-23-2009, 03:44 PM #2
    tucsonhomes
    tucsonhomes is offline Condominium
    Join Date
    Jun 2009
    Location
    Tucson, AZ
    Posts
    177

    Default

    I would never base my career on one transaction.

    The likelyhood is that if you think about it either there is a pattern or not. If there is a pattern, then its time to hang your hat somewhere else.

    Why would you want to sit around in builder homes anyway?
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