Did you know that Real Estate Agents do not get paid for their services if the “deal” or  “transaction” or “Sale” does not happen?

You ask…so…why do I care?

I believe it’s important for you to understand, we all have a job to do and at the end of that job we need to get paid.  Let’s be honest, even if we “LOVE” our jobs we still need to make money and pay those bills that seem to come every month.

Real Estate Agents are not able to bill for services like say an attorney, if you want to get legal advice you have to pay for it…and the time starts ticking from the moment you start asking questions.

The California Department of Real Estate has set limitations on how Real Estate Agents can be paid. We are not allowed to be paid consultative fees and we are not allowed to bill for months of service if for some reason that “sale” does not go through.  In other words, frankly speaking, we work everyday to provide excellent service to our clients but there is absolutely NO guarantee that there will be a paycheck in a few months for all of that hard work.

Let’s take a minute and talk about the agent commissions and who actually pays those commissions.  In a traditional “sale” the homeowner would work with the agent to determine the amount of commission that would be paid at close of sale.  A Short Sale leaves you, the homeowner FREE from paying agent commissions.  Your lender pays those commissions if and only if  the sale is successfully completed.

I bring this up because it’s a bit insulting to be expected to consult with those who are in need of clarification on selling a home while they have already hired a Real Estate Agent.  Not to mention that it’s very unethical for a Real Estate Agent to speak to a seller, or buyer who is currently represented by a Real Estate Agent.

Think about this…

Kris and I have chosen to stay in Real Estate during this challenging time because we believe we can help homeowners that choose to short sale.  We are diligent to stay informed on every aspect of the Short Sale and changing laws and new programs by lenders.

When choosing your Real Estate Agent, please consider what they will be able to offer you.  It’s important that the Agent be aware of all aspects of how a Short Sale works.