Things to keep in Mind about Short Sale negotiation requirements:

The real estate commission will usually not exceed five percent (5%) in a two (2) broker situation.

THIS IS WORTH NOTICE:  In some cases the real estate commission will not exceed three percent (3%) in a one (1) broker situation.        

NOTE:** Real estate commission MAY, in some cases, exceed these percentages.  However, higher commission is normally reserved for realtors that have gone above and beyond what was required of them to close a deal (i.e. pay out of pocket for expenses, have liens removed, etc.)

Some additional things a realtor can send to the lender to help with the negotiation for a short sale approval:

The listing agent is encouraged to provide his/her broker's price opinion (BPO) with the package and any comparables to support the offer amount.

Junior lienholders should be released or negotiated outside the sales proceeds as most investors/insurers will not allow money to come from the proceeds for any junion lienholders.

The sales contract should include a contingency that the short payoff is subject to approval by the investor and / or insurer of the loan.

If a short payoff is approved the investor will be required to file a 1099c (cancellation of debt) with the IRS upon completion of the transaction. 

Information from: the Mother and Daughter Realty Team of Perfect Financial Solutions 866-750-8282