In this short post, I am re-visiting a topic upon which I have ranted before. Realtors who negotiate commission rates in the "remarks" section. Firstly, it is in direct contravention of MLS rules to negotiate the commission in an MLS listing. I saw one today that said, and this is disappointingly typical, "commission to be 50% of whatever bank will pay." So if the bank offer $1.00 and a sandwich you are obliged to accept 50 cents and half a PB & J? Have you no pride in your work? Have you no self-esteem?
If your client were to see that type of verbiage, would they see you as a champion of their cause; fighting fearlessly for their last dollar? More than that, when I see that kind of defeatist phrasing in a listing I sit back and smile. Why? Because I know that if we were to pursue your listing, I would crush you in the negotiations.
If you are that agent, you need to consider another line of work. You most certainly are not benefiting your client, so you need to step aside and let us professionals take care of business.
Likewise to all you puppets who insist that buyers must qualify with your preferred lender. Grow a spine! The message you send is this, "I do not trust the loan status report (LSR) that your lender has provided because the lending business is so corrupt/malleable/unregulated (pick one), but I insist you blindly trust my random guy with all your most private and critical and secure information before we can proceed."
If you don't stand up to these banks, you will just end up under their complete control.
For the record, I have never allowed a client to qualify with another lender on the whim of a seller, and I never will.
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