I know why I SHOULD get a real estate agent, now I want to know why I SHOULDN'T. - Page 3

**XtremeVision** · 07-13-2007, 05:40 PM

Quote:

Originally Posted by corey r.

Hmmm.... How is this any different than a credit on the HUD at closing? Both come out of commisons, no?

Its not, its the exact same thing. Scott, dont you offer a free bonus to try to entice tamparacing people to use your services? Isnt this the same as offering a credit on the hud. Wait, it does show on the HUD. SAME THING that you just frowned upon in the other post.

Chris · 07-13-2007, 09:58 PM

Quote:

Originally Posted by XtremeVision

A home inspector is worth every penny. Normally you should find one that is licensed as they do not have to be in the state of FL.

Chris, did you use an agent when you bought your house?

yes

**XtremeVision** · 07-13-2007, 10:09 PM

Quote:

Originally Posted by Chris

yes

oh. I guess I can figure out who.

Too bad the home inspector didnt catch everything, does your home warranty cover the stuff they didnt catch or is it more along the lines or wear and tear?

**Scott** · 07-17-2007, 11:13 AM

Quote:

Originally Posted by XtremeVision

Its not, its the exact same thing. Scott, dont you offer a free bonus to try to entice tamparacing people to use your services? Isnt this the same as offering a credit on the hud. Wait, it does show on the HUD. SAME THING that you just frowned upon in the other post.

I offer a perk to anyone that uses my services as my signature has said for some time now. That went in there after I sold homes to or sold homes for about ten or so TR/TF people and many suggested I should put the word out, so I did. I think there was a thread about it long ago.

I do not offer cash back at closing, never had, never will for the reasons I listed before therefore it does not go on the HUD. What I offer depends on the customer. And there is one closing cost I always pay because I do not agree with it.

So it is not the same thing. But I am starting to think you have offered money back at closing or something else that has to be reflected on the HUD, is that right ? It is the only reason I can see why you would be talking about it.

07-17-2007, 11:24 AM

posts have been removed and anymore posts looking to start arguements in this forum are going to get people banned with no warnings.this goes for everyone.

**XtremeVision** · 07-17-2007, 11:30 AM

Quote:

Originally Posted by Scott

I offer a perk to anyone that uses my services as my signature has said for some time now. That went in there after I sold homes to or sold homes for about ten or so TR/TF people and many suggested I should put the word out, so I did. I think there was a thread about it long ago.

I do not offer cash back at closing, never had, never will for the reasons I listed before therefore it does not go on the HUD. What I offer depends on the customer. And there is one closing cost I always pay because I do not agree with it.

So it is not the same thing. But I am starting to think you have offered money back at closing or something else that has to be reflected on the HUD, is that right ? It is the only reason I can see why you would be talking about it.

Scott, I of course will give a realtor credit on the hud for closing costs if a friend buys a home and just calls me and asks me to credit some of the commision. Why the hell not? Its 100% legal, let me repeat that 100% legal.

On the other hand, have I had to give credits to help cover closing costs for customers that dont have enough funds to close, sure, somthing is better then nothing. If I can make 5000 instead of 7000 instead of losing the whole deal, why not. Again, 100% legal.

I still think you dont understand the terminology cash back. I dont give cash back at closing on a purchase as you are trying to make it. I give a realtor commision credit for closing costs, prepaids, etc. 2 totally diff things.

**XtremeVision** · 07-17-2007, 11:32 AM

Quote:

Originally Posted by Scott

I offer a perk to anyone that uses my services as my signature has said for some time now. That went in there after I sold homes to or sold homes for about ten or so TR/TF people and many suggested I should put the word out, so I did. I think there was a thread about it long ago.

I do not offer cash back at closing, never had, never will for the reasons I listed before therefore it does not go on the HUD. What I offer depends on the customer. And there is one closing cost I always pay because I do not agree with it.

So it is not the same thing. But I am starting to think you have offered money back at closing or something else that has to be reflected on the HUD, is that right ? It is the only reason I can see why you would be talking about it.

Also, when you pay from the home warranty out of your commision, it is shown on the hud as such. So quite trying to make it look like your not doing the same thing.

**Scott** · 07-17-2007, 11:40 AM

Quote:

Originally Posted by XtremeVision

Also, when you pay from the home warranty out of your commision, it is shown on the hud as such. So quite trying to make it look like your not doing the same thing.

Good thing I do not pay it out of my commission or you might be correct. Coldwell Banker frowns on that big time these days and no longer allows it. Or should I say my office does for whatever reason.

**XtremeVision** · 07-17-2007, 11:51 AM

Quote:

Originally Posted by Scott

Good thing I do not pay it out of my commission or you might be correct. Coldwell Banker frowns on that big time these days and no longer allows it. Or should I say my office does for whatever reason.

Scott, enough with the act. I could call 10 coldwell banker agents right now, tell them I found a house, I just want them to credit me part of the commison, 9 out 10, you being the 1, would rush over and put there name on the contract. You know why, its 1000000% legal. So please get over your holier then though self and stop acting like you wouldnt do it. Its free money.

**XtremeVision** · 07-17-2007, 11:52 AM

Quote:

Originally Posted by Scott

Good thing I do not pay it out of my commission or you might be correct. Coldwell Banker frowns on that big time these days and no longer allows it. Or should I say my office does for whatever reason.

So you make the seller pay for it? Then its not anything special for using you, its just somthing negotiated in the contract.

**Scott** · 07-17-2007, 11:53 AM

Quote:

Originally Posted by XtremeVision

Scott, I of course will give a realtor credit on the hud for closing costs if a friend buys a home and just calls me and asks me to credit some of the commision. Why the hell not? Its 100% legal, let me repeat that 100% legal.

You of course give a credit ? Why so ? Do you find it necessary ?

Where have I said this is 100% illegal ? Funny how people read things how they see fit.

It can be illegal as I have said. One prime example is if all parties have not been properly notified and agreed to it. Other examples depend if the person is using a relocation company where it is absolutely not allowed on all of the relos I have been part of. It is in all of their disclosures

Quote:

Originally Posted by XtremeVision

On the other hand, have I had to give credits to help cover closing costs for customers that don't have enough funds to close, sure, something is better then nothing. If I can make 5000 instead of 7000 instead of losing the whole deal, why not. Again, 100% legal.

That is your perspective therefore do not persecute someone that does not agree with this. I just do not go handing out money to make something come together. That is a slippery slope. And my office rarely allows this and I mean rarely. I have had transactions fall apart over very small amounts because my broker would not allow it.

Quote:

Originally Posted by XtremeVision

I still think you dont understand the terminology cash back. I dont give cash back at closing on a purchase as you are trying to make it. I give a realtor commision credit for closing costs, prepaids, etc. 2 totally diff things.

I completely understand how it works, I have been on committees with the board in the past. But you know as well as I do there as a ton of shady Realtors out there that purposely undercut people by offering most if not a great portion of their commission back both disclosed and not disclosed. That is a ethics deal for me and undermines the integrity of the profession. If you do not agree with this that is fine, that is your perspective. I have been in the business a lot longer and know what happens to most agents / brokers in the end that allow stuff like this.

**Scott** · 07-17-2007, 11:55 AM

Quote:

Originally Posted by XtremeVision

So you make the seller pay for it? Then its not anything special for using you, its just somthing negotiated in the contract.

See this is your big flaw, you guess on everything and figure that must be it.

No I do not have the seller pay it as my gift to my buyer, give me a break.

**Scott** · 07-17-2007, 12:06 PM

Quote:

Originally Posted by XtremeVision

Scott, enough with the act. I could call 10 coldwell banker agents right now, tell them I found a house, I just want them to credit me part of the commison, 9 out 10, you being the 1, would rush over and put there name on the contract. You know why, its 1000000% legal. So please get over your holier then though self and stop acting like you wouldnt do it. Its free money.

Wrong and wrong.

Why does this make me "holier than though" ? Excuse me for having different principals and perspectives on this and like I have said time and time again my broker does not allow much or any of this anyhow. I have seen the cut rate brokers come and go many times now. It catches almost all of them in the end because they get tired of working for free or giving away part of their paychecks to everyone because that is where it leads. HD is a prime example of many.

And no it is not 10000000% legal because there are situations (like relo companies as one example) that will not allow it. So you need to do some reading on this. Are you on a relo team ? If so read their disclosures.

So instead of the name calling and aggression which to me is usually done when one does not understand something completely, how about you phrase this "discussion" differently so no one has to look like a a-hole ? Stop guessing or making assumptions to would be great as well. Phrasing these as questions instead of guesses and the "holier than though" statements that (to me) you are doing would make a better point and discussion would it not ? Otherwise I am done being part of this discussion and someone can come clean it up to put it back on topic.

So lets get this part straight so no one goes reading this how they see fit.

Money back to buyers/sellers is not legal or ethical 100% of the time. This also means it is not 100% illegal if done properly which I guess has been hard for some to realize.

I (personally) think it is shady to make a habit of this or advertise it. It undermines the industry IMO.

If you do not like my opinion so be it, I do not like many others either but I do not go on a witch hunt or try to verbally berate someone because they disagree. What is the phrase about living in a glass house ?

Hopefully that makes it easier.

**XtremeVision** · 07-17-2007, 02:55 PM

Quote:

Originally Posted by Scott

You of course give a credit ? Why so ? Do you find it necessary ?

Why not give a credit if I didnt have to do any work? That doesnt make sense. Of course I dont and wont give a credit if I had to do a normal amt of work.

Where have I said this is 100% illegal ? Funny how people read things how they see fit.

You did say it was illegal and unethical.
It can be illegal as I have said. One prime example is if all parties have not been properly notified and agreed to it. Other examples depend if the person is using a relocation company where it is absolutely not allowed on all of the relos I have been part of. It is in all of their disclosures

Nobody needs to be informed if I give my buyer a closing cost realtor credit. I dont need to tell the seller, has nothing to do with them. Get your facts straight. This isnt a kick back.
Also, Nobody was talking about relos. Why the hell would this guy who started the thread be talking about relos. He wasnt so stop bringing up shit that has nothing to do with this.That is your perspective therefore do not persecute someone that does not agree with this. I just do not go handing out money to make something come together. That is a slippery slope. And my office rarely allows this and I mean rarely. I have had transactions fall apart over very small amounts because my broker would not allow it.

You do hand out money or you wouldnt be part of the relo team. I am not on our so called "a" team as I dont want to give away 40% right off the top. No thanks. I can get my own business.

You let transactions fall apart over small amts? Sux for you. My broker doesnt dictate what I do as long as its 100% legal. I can do whatever I want as long as its in the rules. If I want to list a house for 4%, so be it. If I want to list it for 6%, great. If I want to credit some commision, they dont care. They only get there split off what I bring into the office.

I completely understand how it works, I have been on committees with the board in the past. But you know as well as I do there as a ton of shady Realtors out there that purposely undercut people by offering most if not a great portion of their commission back both disclosed and not disclosed. That is a ethics deal for me and undermines the integrity of the profession. If you do not agree with this that is fine, that is your perspective. I have been in the business a lot longer and know what happens to most agents / brokers in the end that allow stuff like this.

I dont ADVERTISE commision credits. I do them for friends and family if they ask. If they did all the work, found the builder, just want me on the contract, no problem. People have done it for me and I now do it for people as well.

Doesnt undermine integrity to give somone a deal. Thats hilarious.
You have been in the business a while, Big deal. I know more then 75% of the people in my office who have been doing it for 10 years. 75% of the agents out there, even the top producers in my office dont know that much. Its not unusual. They are just on relo teams , only way they can get business. Its handed to them.

**Amortized** · 07-17-2007, 05:52 PM

This is getting way OT. The threads about why one should or should not use a relitter, not whats ethical, honest, professional, whatever. Take it to PM's.

**Scott** · 07-17-2007, 05:55 PM

Quote:

Originally Posted by XtremeVision

Nobody needs to be informed if I give my buyer a closing cost realtor credit. I dont need to tell the seller, has nothing to do with them. Get your facts straight. This isnt a kick back.

Wow !

I will post a link to the exact verbage tomorrow when I get back to the office since I do not have my Planet Realtor password saved in the home computer. It will come right from the state's website if I remember.

If you have not been disclosing this to the seller, buyer, other agent, and most importantly the buyers mortgage company it is actually mortgage fraud among a few other things in most cases. As far as getting facts straight I guess we will have those tomorrow when I get the verbage from FREC to post.

Later

**Scott** · 07-17-2007, 06:02 PM

Quote:

Originally Posted by Amortized

This is getting way OT. The threads about why one should or should not use a relitter, not whats ethical, honest, professional, whatever. Take it to PM's.

Believe me I agree but when people do not have the facts right or misinterpret what one has been saying it is important to make sure people understand this. I have made a point to keep any character attacks out since it is irrelevant and childish.

I will post the link tomorrow to see the exact way Florida looks at this. Then I am done. I find this is now important to many people that may be employing a agent in the future.

As far as ethical goes, well it appears people have their own definition of this, so be it.

**Amortized** · 07-17-2007, 06:04 PM

WTF is a PM?

07-17-2007, 11:24 AM	#45 (permalink)
Administrator Guest	posts have been removed and anymore posts looking to start arguements in this forum are going to get people banned with no warnings.this goes for everyone.

07-17-2007, 05:52 PM	#55 (permalink)
Amortized Mortgage Man	This is getting way OT. The threads about why one should or should not use a relitter, not whats ethical, honest, professional, whatever. Take it to PM's.

07-17-2007, 06:04 PM	#58 (permalink)
Amortized Mortgage Man	WTF is a PM?