Realtors Get Shorted No More

[mike32716]

I think this is more self preservation by Fannie than the effects of NAR. There is a significant contingency of agents which currently flat out refuse to show, list, or sell REO and Short Sale properties due to the low commissions and games played. Fannie appears to have pushed too hard for too long and now recognizes it would be in their best overall interest to make a change, not because its "unfair" to the agents.

This is correct. I deal with several large property disposition firms and all complain about an inconsistency with respect to fees. Remember, Realtors are usually dealing with a servicer or bank, and not FNMA directly. FNMA's fear is that the coming onslaught of foreclosure properties (REOs which carry full fees for Realtors) will drown out an orderly disposition of short-sales, essentially pushing all those short-sale attempts into abandonment or foreclosure, making things worse. They have already seen this in many markets as Realtors refuse to deal with short-sales and concentrate instead on the increasing number of REOs where they can get paid more. Realtors have told me that short-sales are like hot stoves, you only need to get burned once to know not to touch them again.

 

[Mike Garrett RAA]

I find it obvious the person who thinks a real estate agent only spends a few minutes listing and marketing properties hasn't a clue. My fishing partner is an expert in short sales and I can tell you he spends many hours putting a short sale deal together. Cutting the commissions is obscene on the part of the bank. I can also tell you most good agents just stand up to them and get a full commission.

We, as appraisers, have no one but ourselves to blame for not having a voice. I was a member of The American Institute of Real Estate Appraisers when they decided to break away from The National Association of REALTORS® and I thought it was a major mistake then and I still do. I stayed with NAR's Appraisal Section because I was a Certified Real Estate Brokerage Manager (CRB). I also earned the RAA when it was first offered as a designation.

Until we, as appraisers, can work together we will never have any clout. Hell, we can't even agree with each other here on the forum!

 

[fifteen]

If we'd all stop working for AMC's it would be a national, no international scandal and the government would step in and bail us out. No balls no glory :new_all_coholic:

Until we, as appraisers, can work together we will never have any clout. Hell, we can't even agree with each other here on the forum!