Why would I want to list properties for Nationstar? They just listed a property in my local MLS, and are offering 1% to selling agent, list agent gets a whopping 1.75%, meanwhile they get 3% referral and get this, they charge a 5% premium of the purchase price to the winning buyer. Offering 1% to local realtors is not going over well, many pissed off realtors. Not only that, it despite what the BPO's said (at least mine and the listing agents) they underpriced the asset by at least 20,000. I say why not price it right and offer a commission that won't make agents hate you?
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Amen! I cannot believe agents would take a listing and offer 1% to buyer's agent.
The problem is that brokers are cooperating just like completing BPOS for $35.00.
Dennis, Once a *hole always an *hole. YOU are the one that started this mess. YOU are the one threatening me and YOU don't even know me. Why do you even care????? You're 3000 miles away from me. Why do you feel the need to police these posts and point fingers a colleagues. Sheesh.
What's that 2 in one month? You are not the LA on them or NS would have you listed as the agent so why argue or debate the work involved in listing them? If NS made a mistake you should call them and yell at them not me.
2 ...what is that 450.00 per each so 900.00 in a month ? That is not the millions you claimed you were making, I know here in Ohio top agents feel they can make much more money than that. They would never list any property for only 450. or even 1000.00 commission and neither will I . My point is Michael , just be honest we are all working harder these day than we did 20 years ago . Commissions in REOs have dropped drastically, unreasonably while the work load for a listing agent is now more than quadrupled. The asset companies DO NOT treat agents with respect. We have LOST ground ...tremendously. For you to jump in and say you are making millions in REO while doing little to no work? why do that? Why call me and other agents liars or morons then go back and delete all of your claims and comments when you get called out?
As far as my internet skills... they were much better than you felt they would be when you claimed to be making millions in REOs. At least now we got you down to the truth...... 2 NS sales in a month. That was all I wanted from the beginning ....truth. I respect that.
Well you just can not understand what I am saying here so I just have to repeat myself over and over,,, (and defend myself and the truth .) DO you READ or simply respond to be difficult? I searched every zip in fact I searched the whole state then too and still nothing . ZIP !! 0 in the PAST 6 months. Definitely no millions like your claim here. Anyone here can do it. You should realize agents on here are smarter than what you think they are evidently.
As I stated In MY AREA we do all the work, pay the utilities and all else and the auction company does nothing... AGAIN IN MY AREA!!! Do you work for NS in Ohio too ? If not then why are you debating my statement?
Calm down Read my responses VERY slowly from the first one and you will know what I am saying , why and how many times, Then READ your own responses on here.
I am not the one bragging about the millions of dollars I get in the REO field from NS for doing almost nothing, REALLY ? Do you get how really ridiculous that sounds AND IS?
I am not the one calling people "morons" or saying they have a "screw loose." or calling people lazy , complainers or insulting them simply because they are here saying a 600.00 REO commission or 1% is not enough.
I am also not the one who follows YOU on every discussion and slams you, insults you, disagrees on everything with ridiculous statements and will not stop. READ ...then just stop. If you don't then don't expect ME to just go away and let you drabble on, mislead, insult and embellish whenever I post anything on any discussion on this form. We all have a right to be here and express our opinions and or experiences and the truth. Maybe you can and have silenced / chased away others with your constant attacks and insults but I am not going anywhere anytime soon. So again just stop or don't ...I REALLY don't care.
You are really getting to be quite humorous. As I posted there was only one Auction in your area listed on the NS's auction site since Jan and you were not the agent on it. It did not sell. That is far from the "millions" you mention in your posts. I and many others here are beginning to think you are thinking NS reads here and will hire you as a Listing agent for your undying loyalty and the fact you feel 1% is great pay and your faithful long live NS chant !!, LOL
I am wondering why you come here on a blog that is started by a person who wishes to express their feeling about a disgustingly low commission. I mean really did you read what Stephan posted here? So then you come on and say how great NS is? Really? You are the one who is being totally argumentative here. Just start your own discussion and love NS all you want. I promise not to comment on it. But for you to come on a site where the discussion lead is expressing his disappointment and you just want to contrarily disagree with him and everyone who wishes to support his feelings and opinions puzzles me. Screw loose?
As far as the work...I have made it clear on here that I don't take the work...just like Stephan did and so many others here on this discussion have done. Why is it I am the one that bothers you so much? Why not get hostile and insulting with the other 20 or more people who agree with Stephan and me on this discussion thread? Why be so aggressive towards me and my opinions?
As far as my business you can check it out just like I did yours. I am busy enough right now considering I am recuperating from major spinal reconstruction , 7 and half hours of surgery, pins, rods , plates and a year ahead of therapy. But then I noticed you seem to comment on everything I write so you must be recouping from something too! or maybe NS is not keeping you so busy after all.
This will be my last post on this topic. It started with a concern that buyers agent were only being paid 1% and morphed into something else. While Barbara speaks some truth in regard to what they expect from listing agents (weekly inspections, monthly marketing reports, BPOs, paying ALL the current and past due associated bills) it is not confined to NS. It is becoming industry wide and I myself have been vocal about. I spend no less that $8000 a month paying the damn bills on my assigned assets. The worst month was last month when I forked out over $22,000. Its true but I've accepted as part the business I'm in where I earn a nice 6 figure income every year and even did so when the market tanked and I watched fellow Realtors forced to seek 2nd jobs at Walmart, etc.
While its true my current NS workload is low it is only because I CLOSE what I list one way or another. I don't seek out asset managers they find me and I'm picking up new REO clients all the time. REO is 95% of my business and I'm proud to say I am a REMAX Hall of Fame career award winner (having earned in excess of $1,000,000 in commissions). thats a lot of $600 commissions !!! LOL. Obviously it wasn't done all with NS assets.
All I can say is if someone doesn't have the stomach for it get out. Trust me when I say agents are lined up willing to take your place and REO companies know it.
Dennis,
Thank you for your honesty. You see I am in agreement with you all the way on this.
REO properties were a great business at one time and I too am a Hall of Fame agent.
I also agree as I have never applied for an REO account, they do call me . But how many agents do you know or hear about who think REOs are the golden goose and are loosing hundreds of dollars in "platform fees " and REO certifications and classes just for a chance to list an REO?
My concern is for agents today who are as you say lined up wanting to enter the REO world now. I simply think they should be told the truth. So many believe there is millions to be made in REOs. We both know that those days are gone for anyone entering into REOs now. I know dozens of great REO agents who are now out of business with this new REO pay to play world and I am sure you do to. Still we know many unknowing agents who live in envy of the REO agent. If they knew the truth about todays REO business would they still want to list REOs? Really I do not think so Not many new or even vetern agents have 22,000.00 or even 8 K lying around to pay some banks bills interest free..but if we tell them and they still want to be REO agents well then that is their choice. But to mislead others, to glamorize our industry in misleading ways and not try and let our peers know the truth...well that is just something I can not do or watch happen either.
So again thank you for your truthfulness here.
You are so right. When I'm looking at listings to show my clients, I see a really nice property and wonder why it has been on the market for so long when houses here are being snapped up in a few days. When I scroll down the listing and see 1-2% being offered, I understand. I do get mad. We all work so hard and to get paid pennies on the dollar? It's an insult. After getting mad, I pass it by. I refuse to show them.
WOW , I've always conducted myself knowing that what I get paid is secondary to my responsibility to my client be they a seller or buyer. Your comment quite honestly is a violation of your Realtor code of ethics and most likely your state Real Estate Commission laws as well. In the event you choose to edit your comment I'm cutting and pasting it below for all to see........
Dorothy Monette said:
You are so right. When I'm looking at listings to show my clients, I see a really nice property and wonder why it has been on the market for so long when houses here are being snapped up in a few days. When I scroll down the listing and see 1-2% being offered, I understand. I do get mad. We all work so hard and to get paid pennies on the dollar? It's an insult. After getting mad, I pass it by. I refuse to show them.
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