Agent Partner Programs
We offer two different Agent Partner Programs
1. You can refer us short sale listings, just like any other referral. We take the listing and handle the entire process and we give you a referral fee. The referral is based on this scale:
Final Sales Price Referral Fee
- $50,000 and Under = 10%
- $50,001 ‐ $100,000 = 15%
- $100,001 ‐ $300,000 = 25%
- $300,001+ = 30%
2. You can choose to keep the listing and we do the short sale. In this situation, you are responsible for all of the regular listing duties, marketing the home, negotiating the offer, etc. And, we do all of the short sale work. We poise ourselves as the agent’s Short Sale Team. In this instance, we split the total listing side commission equally.
- Initial consult with clients to discuss the ins and outs of short sales and the short sale process
- Send Short Sale package to client
- Receive Short Sale package
- Order HUD1
- Order Title
- Submit file
- Call on every file every other day for updates
- Update financials every 60 days
- Update all parties via email
- Ensure there are no outstanding liens on title
- Negotiate approvals
- Reconcile HUD1 with Approvals
- Send Agreement Notice and MARS Disclosure to all parties
- Get final approval to close from negotiators
- Send final closing package to lenders
Need help deciding which option to choose? Read this…
- If you choose option 2:
- You are responsible to do supporting comps whenever necessary. We won’t see the home, so it’s very hard for us to comp.
- You are responsible to meet the BPO agent or appraiser at the home with documentation supporting the price.
- You are responsible to get a good offer.
- You are ultimately responsible for your client receiving the correct advice and information, as you are the Agent.
- The benefits are:
- You have Your sign in the yard, so You get the Buyer leads and marketing exposure
- You become Your client’s resource for all real estate
- If you choose option 1:
- We have all of the liability and responsibility and you just sit back and collect a check.
- The benefits are:
- We do the work
- You get paid!
Some additional points:
- We are a full service real estate brokerage in your (the agent’s) area. We know the market, the houses, and the people.
- We take full responsibility on every file. We figure out how to make the deal work. Many short sale negotiators will send you the bank’s response without letting you know what to do to make the offer you have work. We won’t even bother you until we have a solution.
- We work every file a minimum of every three days.
- We send weekly updates to the Listing Agent.
- We will update your clients and the Buyer’s Agent if you want us to. You determine if you want to be the main POC for all communication or if you are comfortable with us being that person.