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Pay-it-Forward - Half Percent Commission Increase to Buyers Agent

By Kathleen Daniels, Probate & Trust Specialist

Real Estate Broker/Owner with KD Realty - 408.972.1822 CA DRE#01366594

August 14, 2011 03:54 AM

I closed another San Jose Short Sale in Blossom Valley on August 8, 2011. It happened to be a Wachovia Fast Track short sale which paid a $3,000 seller incentive and a 1% bonus to the listing agent if the transaction closed sooner than 30 days from approval.

Because I received a 1% bonus I paid it forward by paying the cooperating broker 1/2% bonus. I truly believe she deserved a bonus too! After all, she did her job and she did it well. I would not have received the bonus without her efforts as well.

I have closed other transactions with this agent. I truly appreciate her professionalism and her quick and timely responses to emails and voice messages. Working a transaction with a true professional is such a priceless pleasure.

Money Heart

I am grateful for the listing; grateful for the buyers' agent; grateful for the bonus paid; and most grateful for the opportunity to pay it forward by sharing the fruits of our labor with the buyer's agent.

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Laura Gray

RE/MAX Realty Group - Gaithersburg, MD

Kathleen

"Karma" will bless you in many ways for your generosity !

Aug 14, 2011 03:56 AM

Bryan Robertson

Los Altos, CA

Wow! Now that's a good one for the karma bank. I doubt most agents would do the same.

Aug 14, 2011 04:00 AM

Kathleen Daniels, Probate & Trust Specialist

KD Realty - 408.972.1822 - San Jose, CA

Probate Real Estate Services

Laura, Thank you. I truly am of the mindset of serving others. Magic happens when I am focused on how can I serve? How can I make a difference?

Bryan, A few agents in my office questioned "why" I would "give" my commission away. Honestly, the fact that they asked tells me they would not understand my why. Doing the right thing just feels good!

Aug 14, 2011 04:28 AM

Juli Vosmik

Dominion Fine Properties - Scottsdale, AZ

Scottsdale/Cave Creek, AZ real estate 480-710-0739

WOW, Kathleen - a bank that "gets it". So many try to "cut" our commissions. And, for you to share with the other agent is down right awesome!!! You are a true professional.

Aug 14, 2011 05:35 AM

Sidney Kutchuk - Realty Works Temecula Kutchuk - Realty Works Temecula

Realty Works Temecula - Temecula, CA

Realty Works Temecula

Kathleen: Very good show my dear! I am sure that agent will never forget your generosity!

Aug 14, 2011 11:38 AM

John M. Scott

BRE # 01442690, Scott Keys Properties - San Francisco, CA

Broker / Owner San Francisco Bay Area

Kathleen, that typical agent only short sale comment that says "any reduction in commission will be split 50/50 between listing/selling broker" should go both ways. It will show in the HUD-1. Congrats on being such an up front agent!

Aug 14, 2011 01:12 PM

Kathleen Daniels, Probate & Trust Specialist

KD Realty - 408.972.1822 - San Jose, CA

Probate Real Estate Services

Juli, Thank you. The Wachovia loans are Wells portfolio loans now. They do get it and just want to get them off their books! Bottom line - it took the buyer to be able to close ... she deserved the bonus too!

David, Those who operate on what's in it for me are missing the boat, IMO. In the scheme of things it was a relatively "easy" short sale. Either way we could not have done it without the buyer! Thanks for your comment.

Aug 14, 2011 02:58 PM

Kathleen Daniels, Probate & Trust Specialist

KD Realty - 408.972.1822 - San Jose, CA

Probate Real Estate Services

Jane, Thank you. It feels good to show gratitude and reward others for their contributions. I've closed with the agent before. She works with a lot of investors that come in with all cash. No competition for an FHA buyer ... especially on the "low end" properties.

John, Indeed it does show on the HUD-1. This was the first 1% bonus I received. It's rare that additional commission is an issue. Good point re "any reduction in commission" mentioned in the MLS. If the commission offered to the cooperating broker is 3% and we only address "reductions" then even though the commission is on the HUD ... there is no provision to pay cooperating broker more! For me it's about doing the right thing. Greed is for people who live in fear and lack. Thanks for your comment.

Aug 14, 2011 03:29 PM

Antonio M. Cardenas Broker Associate

RE eBroker Group - San Leandro, CA. - San Leandro, CA

"The Realtors In Motion"

That is a very classy act Kathleen, outstanding! in this economy, reaching out to share part of your bonus with the listing agent is absolutely beautiful! You are indeed a true, genuine professional, my hat is off to you! The side effect of your action, is that you will be the favorite agent to receive an offer from! Great Pay Forward action

Antonio

Aug 14, 2011 03:46 PM

Kathleen Daniels, Probate & Trust Specialist

KD Realty - 408.972.1822 - San Jose, CA

Probate Real Estate Services

Antonio ... thank you. I certainly hope to do more business with the agent in the years to come.

Aug 14, 2011 03:55 PM

Dawn A Fabiszak

Private Label Realty ( Denver metro area, Colorado - Aurora, CO

The Dawn of a New Real Estate Experience!

Kathleen ~ that wasn't only a pay it forward, it was putting some extra gold stars in your karma box.

Aug 14, 2011 04:04 PM

Kathleen Daniels, Probate & Trust Specialist

KD Realty - 408.972.1822 - San Jose, CA

Probate Real Estate Services

Dawn, Thank you. For me it all boils down to feeling good, doing the right thing, and serving the greater good of all. Every listing needs a buyer! I like gold stars ... and full moons :-)

Aug 14, 2011 04:30 PM

Lisa Dunham

Alexandria, VA

Associate Broker, Alexandria Virginia Real Estate

Kathleen, you are indeed a rarity! You will continue to be BLESSED as you are such a blessing to others! Kudos, Kudos, Kudos!

Aug 15, 2011 11:54 AM

Norma Toering Broker for Palos Verdes and Beach Cities

Charlemagne International Properties - Rancho Palos Verdes, CA

Palos Verdes Luxury Homes in L.A.

Kathleen - An agent told me yesterday ours is a "dog eat dog" business and luck has a lot to do with success. I disagree. I believe we create our own "luck" by conducting our business as professionals--and your actions are a wonderful example of such.

Aug 16, 2011 02:45 AM

Connie Harvey

Pilkerton Realtors - Brentwood, TN

Realtor - Nashville TN Real Estate

Kathleen, that was very nice of you. I know that there are agents in our area that I truly look forward to working with and would gladly do the same thing!

Aug 17, 2011 08:21 AM

Not a real person

San Diego, CA

Happy Wednesday!

Aug 17, 2011 09:12 AM

Joan Cox

House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO

Denver Real Estate - Selling One Home at a Time

Kathleen, you had to have made that agent's day! What a great pay it forward!

Aug 17, 2011 01:04 PM

Melissa Brown

Helen Adams Realty - Charlotte, NC

Realtor - South Charlotte NC Homes for Sale

Kathleen, you are wonderful, and i agree with you completely! Having a professional cross-sale agent who does his/her job exceedingly well makes this job so much more rewarding!

I'm so glad the bank paid you a BONUS! I just had a bank (2nd position) unilterally cut our commissions THE DAY BEFORE CLOSING, even though it didn't increase that bank's net one cent. ARGH!!!

Aug 17, 2011 03:31 PM

The Villages Realty

The Villages Realty - San Jose, CA

"Our Performance Will Move You!"

Kathleen, always a great story on what we go through as agents. Keep on being the outstanding agent that you are.

Dec 04, 2016 07:06 PM

Eagle Ridge Realty

Eagle Ridge Realty - Gilroy, CA

"Our Performance Will Move You!"

Good stuff Kathleen. Keep on posting this useful information. We love it!

Dec 05, 2016 05:05 PM

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