Tampa Foreclosures...My Commission is non-Negotiable so Don't Ask

In the Tampa Real Estate Market and our MLS states that when an agent puts in a commission on a listing that is a short sale or bank owned, the commission that is in the system must be paid, no negotiating.  So here is the dilemma, I have a short sale that is basically approved and the bank is only willing to pay 3.5% commission.  OK, so now the other agent wants me to split my commission...Like I said, don't ask because the answer is no.  But wait, it gets better...I may have felt some level of compassion, but the listing also states that the current price is approved by the lender and I know for a fact that the contract has fallen thru twice because of financing.  In addition, the property was never put into Pending status as the MLS rules state that it must be put into Pending within 2 days of Seller signing off acceptance.

My dilemma is that my clients want the house...and I work for my clients, but I do a ton of work for my clients and my fee is justified as well as the fact that the listing agent was deceptive in saying that the terms are acceptable by the third party on the listing sheet.  So it looks like I need to call the atty's on Monday and get ready to go to arbitration after close...ohh happy days.

For all agents out there dealing with similar situations, the banks are hoping that you will back down...don't.  Defend your fees or tell them to go sell their properties elsewhere!

But again, My commission is Non-Negotiable, so Don't ask!

• Tampa Real Estate

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