I have several agents that handle rentals just to survive in this market, and I am amazed at how long these rent checks are taking the other local brokers to process. I have an agent that closed a deal 5 weeks ago and has yet to recieve her part of the rental commission! It seems the bigger franchises are the worse!
Five weeks??? Come on Brokers!
GET A CLUE..LET ME TELL YOU HOW TO HELP YOUR AGENTS GET PAID IN 2 DAYS!
Have the Lessee write a certified check for the deposit and the rent check.. It is that easy! Then you have no excuses why the check has to wait 15 business days to clear!
I'm tired of having to call my local fellow Broker Owners and chasing down rent checks for my agents. I'm also awaiting a response from RESPA to hear if this does or doesn't fall withing the same guidelines as disbursing regular closing funds, which we all should know, states you need to be paid within 5 days of the closing.
If you have any knowledge of RESPA and rentals, I'd love to hear from you! Thanks!
Posted by Vicki Watzlawick, Broker Owner, Illinois Foreclosure Expert, Exit Platinum Realty, LITH, IL www.vickisdreamhomes.com
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