All Forum Posts by: Jacqueline Carrington

@Maggie L. @Wayne Brooks in my area, almost all agents offer between 2-2.5% to the buyer's agent. I have never come across a listing on MLS where nothing was offered to the buyer agent.

Most seller don't know that the listing agent usually offers a percentage of their fee to a buyer agent and that the listing agent is not even getting the full 6%.

Also, to Wayne's point: Our buyer agreement states the fee is 3%, so if the listing agent offers 2%, the buyer makes up the other 1%. So nothing is actually lost there to the buyer agent. They are still getting full commission.

@Account Closed true! I offered the seller "if I get my broker to lower the fee to 5%, would you list with me"? I believe 5% is the lowest I'd accept since I'd be offering 2% to the buyer agent.

I've been targeting FSBO. They are so bent on the 6% but the properties have been on the market nearly a year. It's like would you rather pay 6% or have your house continue to sit on the market while you guess values and proper pricing of your property?

My broker's fee is 6% on all listing contracts. Yes, everything is negotiable but how do other agents counter when a seller says "6% is too high". How do you make the seller see your value in that 6%? How often do you accept a lower listing fee?

Looking for some advice in seeing how other agents handle pushback on their listing fees.

Congratulations and great set of goals you have! Welcome to BP! Looking forward to watching your journey progress!

 Lol. That's what I said. 

 I haven't used the screening software the OP is using. I used Core Logic SafeRent. On the back end, you can enter all your screening criteria. So if the credit does not suffice, it auto generates a denial letter and they can contact Core Logic SafeRent for additional details about their credit report. No extra steps needed other than sending them the letter.

When declining someone, you don't need to give specifics, but a general: credit, background (criminal) or income are really the only reason(s) for denial if you have standard application guidelines.

By just saying "your application didn't pass" and not giving a general why with documentation opens a can of worms.

From what I hear Garfield still isn't quite there yet. Lawrenceville is definitely on the come up. There are lots of nice boutique shops and restaurants on the strip there now. I would look into that area. East Liberty is definitely being gentrified too and there is lots of construction going on, even making a "downtown" East Liberty.

Never make assumptions about people. You cannot assume she won't pass the credit check until you run the credit. Her child support should count as income.

If she wants to apply, let her apply. Doing otherwise can be portrayed as discrimination. As for her denial, it will be based solely on the qualifications you have set. As stated, do not tell a specific reason for denial. Simply saying "the credit application did not meet our guidelines. Here is the phone number if you'd like additional details." Pretty much the same denial letter any credit applicant gets when they aren't approved.

 We are nearby! Are you a wholesaler?

I'd contact a loan officer and see if you could refi into a rehab loan. Once fixed, you could buy to rent out or if the ARV is good enough, sell for a profit.