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urbanrealtor
ParticipantHLS,
I apparently was unclear in my response.
Or perhaps I am confused in my terminology.I was trying to say that all lending retailers, be they BofA or Crazy Sheldon’s House of Paper (that’s copyrighted and you need to pay me a royalty by the way), should have a clear par rate and all lending employees (at least those dealing with borrowers) should know it and it should be stated clearly along with anything on the front or back.
Its not that I think they deserve a break from disclosure but that I think banks should have the same requirements. In that specific regard, they have a point.
ParticipantThe brokers have a point.
Yield spread disclosure should be required of everyone.
Its not as though the bank LO’s (some of whom were tellers last week) are necessarily more honest than the 3rd party originators (eg: HLS).Bank loan officers are not even required to be licensed generally and often the banks are not bound re licensing laws.
ParticipantThe brokers have a point.
Yield spread disclosure should be required of everyone.
Its not as though the bank LO’s (some of whom were tellers last week) are necessarily more honest than the 3rd party originators (eg: HLS).Bank loan officers are not even required to be licensed generally and often the banks are not bound re licensing laws.
ParticipantThe brokers have a point.
Yield spread disclosure should be required of everyone.
Its not as though the bank LO’s (some of whom were tellers last week) are necessarily more honest than the 3rd party originators (eg: HLS).Bank loan officers are not even required to be licensed generally and often the banks are not bound re licensing laws.
ParticipantThe brokers have a point.
Yield spread disclosure should be required of everyone.
Its not as though the bank LO’s (some of whom were tellers last week) are necessarily more honest than the 3rd party originators (eg: HLS).Bank loan officers are not even required to be licensed generally and often the banks are not bound re licensing laws.
ParticipantThe brokers have a point.
Yield spread disclosure should be required of everyone.
Its not as though the bank LO’s (some of whom were tellers last week) are necessarily more honest than the 3rd party originators (eg: HLS).Bank loan officers are not even required to be licensed generally and often the banks are not bound re licensing laws.
Participant[quote=sdrealtor]Contrary to what most think most agents work hard and get paid very infrequently closing only a 2 to 4 transactions a year. Given the choice of showing numerous homes particularly in this price range, the home with at least 2.5% will get far more showing. While offering 3% is extra incentive to buyers agent, offering 2% is starting with one foot in the grave. Getting paid 2% or less is like taking a very substantial pay cut. Like it or not, its not in your best interests as a homeseller to do so.[/quote]
I have actually seen brokers shut down their agents’ deals because of a below market (market being 2.5%-4%) CBB.
Further, if agents form a collective negative opinion about a listing, it will discourage other agents from showing that listing. They (we) talk like a sewing circle.
Participant[quote=sdrealtor]Contrary to what most think most agents work hard and get paid very infrequently closing only a 2 to 4 transactions a year. Given the choice of showing numerous homes particularly in this price range, the home with at least 2.5% will get far more showing. While offering 3% is extra incentive to buyers agent, offering 2% is starting with one foot in the grave. Getting paid 2% or less is like taking a very substantial pay cut. Like it or not, its not in your best interests as a homeseller to do so.[/quote]
I have actually seen brokers shut down their agents’ deals because of a below market (market being 2.5%-4%) CBB.
Further, if agents form a collective negative opinion about a listing, it will discourage other agents from showing that listing. They (we) talk like a sewing circle.
Participant[quote=sdrealtor]Contrary to what most think most agents work hard and get paid very infrequently closing only a 2 to 4 transactions a year. Given the choice of showing numerous homes particularly in this price range, the home with at least 2.5% will get far more showing. While offering 3% is extra incentive to buyers agent, offering 2% is starting with one foot in the grave. Getting paid 2% or less is like taking a very substantial pay cut. Like it or not, its not in your best interests as a homeseller to do so.[/quote]
I have actually seen brokers shut down their agents’ deals because of a below market (market being 2.5%-4%) CBB.
Further, if agents form a collective negative opinion about a listing, it will discourage other agents from showing that listing. They (we) talk like a sewing circle.
Participant[quote=sdrealtor]Contrary to what most think most agents work hard and get paid very infrequently closing only a 2 to 4 transactions a year. Given the choice of showing numerous homes particularly in this price range, the home with at least 2.5% will get far more showing. While offering 3% is extra incentive to buyers agent, offering 2% is starting with one foot in the grave. Getting paid 2% or less is like taking a very substantial pay cut. Like it or not, its not in your best interests as a homeseller to do so.[/quote]
I have actually seen brokers shut down their agents’ deals because of a below market (market being 2.5%-4%) CBB.
Further, if agents form a collective negative opinion about a listing, it will discourage other agents from showing that listing. They (we) talk like a sewing circle.
Participant[quote=sdrealtor]Contrary to what most think most agents work hard and get paid very infrequently closing only a 2 to 4 transactions a year. Given the choice of showing numerous homes particularly in this price range, the home with at least 2.5% will get far more showing. While offering 3% is extra incentive to buyers agent, offering 2% is starting with one foot in the grave. Getting paid 2% or less is like taking a very substantial pay cut. Like it or not, its not in your best interests as a homeseller to do so.[/quote]
I have actually seen brokers shut down their agents’ deals because of a below market (market being 2.5%-4%) CBB.
Further, if agents form a collective negative opinion about a listing, it will discourage other agents from showing that listing. They (we) talk like a sewing circle.
ParticipantI am not as averse as sdr to flat fee guys. Some are good. Others charge less because they do not get many referrals. I used to work as an office manager for a flat fee helpusell. I went elsewhere when it became clear that our new broker was scaring away the clientele (which damages the licensees’ names as well). In other words, our office switched from one with lots of referral business to one totally dependent on discounted commissions.
I think its fair to ask any agent for 3 referrals and contact info.
ParticipantI am not as averse as sdr to flat fee guys. Some are good. Others charge less because they do not get many referrals. I used to work as an office manager for a flat fee helpusell. I went elsewhere when it became clear that our new broker was scaring away the clientele (which damages the licensees’ names as well). In other words, our office switched from one with lots of referral business to one totally dependent on discounted commissions.
I think its fair to ask any agent for 3 referrals and contact info.
ParticipantI am not as averse as sdr to flat fee guys. Some are good. Others charge less because they do not get many referrals. I used to work as an office manager for a flat fee helpusell. I went elsewhere when it became clear that our new broker was scaring away the clientele (which damages the licensees’ names as well). In other words, our office switched from one with lots of referral business to one totally dependent on discounted commissions.
I think its fair to ask any agent for 3 referrals and contact info.
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