Short Sale Strategies
Howard Hanna cuts commission for co-broke short sale
April 22, 2010
Buyer's agent from my company sold property (co-broked with Howard Hanna, NE Ohio's mega realtor) that was listed on MLS as an auction property (that actually was a short sale).
MLS called for buyer's agent to receive 3.5/2.5%.
Fully executed contract contains commission addendum stating 3% to my company, 4% to Howard Hanna listing agent, and 3% to Howard Hanna realtor/auctioneer.
Lender agrees to short sale - Short sale closes with 6% commissions to be paid.
Howard Hanna is instructing title company to pay buyer's agent 2% and 4% to Howard Hanna. Claiming that their auctioneer (?negotiator?) is entitled to 2%, their agent 2%, and my agent 2%.
I've sent certified letters to title company and Howard Hanna manager of the responsible office contesting, and the title company.
Any comments or suggestions out there?
April 23, 2010
Was this going through an on-line auction with Howard Hanna? Was your offer through the on-line auction? Just asking as to how the offer was made.
Keith H Cramer
AC Negotiations LLC
216 373 5691
April 26, 2010
No, it was advertised as an auction on the MLS, but after we viewed it and wanted to make an offer, we were told that it was a short sale, and submitted offer as such.