RealTown's RealTalk

I received some responses to an earlier post asking about this company. I appreciate that. It really helped. HOWEVER, Today the asset manager I have been working with had to call me back. I was looking over their Exclusive Listing agreement AND noticed 2 things I did not like. If I get the buyer, I do not get the full commission on the selling side. It is cut severely for me on that side. I find that insulting, considering I have already worked my butt off for these folks. THAT is why the asset manager called me back. It was news to her, as it was a recent change. She did not seem pleased.

AND they want to be named as additional insured on my car insurance, as well as liability or E & O insurance. My company will not go for that at all. If anything happened-even apart from this deal Litton's name would be on the check. That is absurd.

Just a heads up for anyone else working with them. I am just hoping now that I get reimbursed for the items I have already shelled out money on. I don't even have the utility bills yet.

Juanita R. Williams

Bray & Co Rifle

970-618-4525

Juanita said: I received some responses to an earlier post asking about this
company. I appreciate that. It really helped. HOWEVER, Today the asset
manager I have been working with had to call me back. I was looking over
their Exclusive Listing agreement AND noticed 2 things I did not like. If I
get the buyer, I do not get the full commission on the selling side. It is
cut severely for me on that side.

The solution to the commission seems pretty simple to me. Refer the buyer
to a good buyer agent (ABR) and get a referral fee. Less work for you and
definitely better for the buyer to have their own agent. Even in your small
market that should be possible.

Anne Hunter, ABR, CRS, E-Pro, SRES, Broker
Anne Hunter & Co Metro Brokers
Connecting People with Homes
Lakewood, Colorado 303-829-7941
mailto:Anne@AnneHunter.com
http://www.AnneHunter.com

Welcome to handling bank properties. REO is not for the new comers. This is the reality, the listing agreement i.e. what you will actually get paid comes after you have expended money and work. Do you know of many business that work for free plus advance $$ and not even knowing when or if they will get paid. If the property does not sell, is re-assigned etc. you will receive no money and frequently still wait 90 days for reimbursement.

those wanting to get into REO need to know that in advance.

WHAT???? On your insurance policy???? I've never heard of anything so outrageous.

But, I have heard that they like to cut the commission if you find your own buyer. No problem. I just 'refer' the buyer to my friend who is her own broker. She keeps 20% for her trouble, and passes the other 80% on to me. It is ludicrous for these people to think that we are just going to 'give up' the selling commission on the buyer side when we can go sell them something down the street and make a full commission. I am assuming this is for a lender owned listing. I know that many of you want this type of business, but I don't take it. The reason is that they require me to have a 'line of credit' or a large limit credit card available to arrange for and pay for repairs to the properties. I don't mean to be snippy, but they don't pay me enough to take that kind of a risk with my own money, AND act as General Contractor. And, if they also demand that I get next to nothing on the buying side, if I procure the buyer, I send them to the next agent in line. Lenders, with short sales, have already beat me up so bad this year, that I can't stomach working with them in another capacity, too.