Just think about that . . . 60 offers at 4-6 hours of real estate agents' time involved for a grand total of 240 - 360 hours. Even at $20 an hour, that comes out to $4,800 - $7,200 of time. I don't know many agents that can survive on $20 an hour, but let's just be conservative. How about gas in the car for all that running around, paperwork, faxes, phone, etc.
The house they finally bought was only $113,000 with a grand total commission of $3,390. If you were not the broker, you had to split that with the office. But how many agents did this buyer use, because the article says they were looking all over the state.
Short sales are stinko. I don't care what anyone says, unless the seller has a confirmed letter from the bank regarding the price, working with short sales is a bad idea for business and for your bank account. As a group, we should ban short sales unless banks have agreed on a short sale price. Without that, we're doing nothing more than showing "maybe" buyers, "maybe homes for sale."
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