More Santa Clarita Short Sale Tricks – Trick #1 Commission reductions

    When you have done the research and have decided to have your Santa Clarita Residence “sold short”, you will want to ask your real estate agent at which “commission rate” they are going to place your home into the MLS(multiple listing serice).

    SCV Short Sale Agents at REMAXTypical Real Estate commissions for the Buyer’s Agent, the one that is going to be setting up the viewing of your home, is 2.5-3.0%.

    I know not why, but some of those in our industry are advertising that you as the seller are offering 2.0%.

    In this economy everyone wants a pay-check.  I totally get that.  However, if your home is a one of a kind and there are no others for sale that have similar features, it might work out.  Today’s real estate market place in the Santa Clarita Valley is not lacking listings.

    Short Sales, foreclosures and standard sales are all out there for sale in the SCV.  When it comes accomplishing your Short Sale, make sure that your agent is not cutting those commissions that the Buying agent depends on.  Especially when the “re-sale market” in the Santa Clarita Valley has competition that is at an all time high.

    Also, the banks are the ones that are paying the tab to both of the agents that will be involved in your short sale.  So your “short sale expert agent” and the “agent representing the buyer” are both covered.

    Most banks are approving a 6.0% total Short Sale fee, due to the agents, upon completion of the Short Sale.  The rule of thumb is that commission rate is split 50/50 between both the selling and listing agent’s offices.  That is unless a reduction of commission is ordered by the Bank that owns the paper on the property being sold short.  In that case, the disclaimer that, any reduction in commission will be split 50/50 between the brokerages, is usually in force.

    When we are looking at the Santa Clarita Multiple Listing Service and scouring the system to find our Buyers that “perfect” property, we could care less about the commission offered.  There are others in our industry that are of the same “school”.

    But think of it this way, “If you could sell your old beat up washer for $50.00 to one party, but had an offer for $100.00 from another party”, which party would you sell it to?

    Be careful and make sure you are being represented to the best of any real estate agent’s ability and getting the most advantage when Short Selling in the Santa Clarita Valley 🙂

    Make sure you read Santa Clarita Short Sale Trick number 2!!!

    Trackback from your site.

    Paris and Connor MacIvor

    Connor and Paris MacIvor are in the Top 1% of Realtors Nationwide, starting their real estate business in 1998 with RE/MAX Gateway - Santa Clarita Valley and Valencia CA. Their becoming licensed real estate consultants and representatives came from the horrible experience they had when they bought their first home. There were many things that the agent they had hired did not explain and disclose, which per law he should have. Getting that agent on the phone after they closed escrow and after he had gotten paid was impossible. Paris and Connor called the broker, the board of realtors, the office manager and all they received was the promise of a phone call back. The remedy did come, but not as fast and in the way they wanted. That act - that bad agent was the reason why Paris and Connor became Realtors. That was all they needed to vow to never let the same fate befall anyone else, that befell them. Today Connor and Paris are focused on client service. Protection and top-shelf service with regard to their real estate clientele. They primarily work within the Santa Clarita Valley and Valencia CA. However, for a referral, where 80+ of their business is referrals they have License and Will Travel to other parts of Ventura County, Los Angeles County, and Orange County to handle real estate transactions for those who trust their real estate operation. Writing on their Real Estate Blog is a passion. SCVnest.com/blog is where you will find over 10,000 real estate articles. Go to SCVnest.com/radio to listen to their latest real estate radio broadcast.

    One Response to “More Santa Clarita Short Sale Tricks – Trick #1 Commission reductions”

    Leave a Reply

    Contact Us Now

    Any questions, comments, or feedback

    SCVnest Radio Show (listen now)