Fannie Mae  just released their newest servicing guide…..there is a new rule that directly effects your real estate business…

Servicers are no longer allowed to haggle the real estate commissions provided they dont exceed 6%. Truth is, for most agents this will mean a raise in their fees collected. In SoCal for example, 5% commissions are more or less the going rate. Now, when an agent lists and sells a short sale (that is a Fannie Mae property) they will get a 1% raise!

Bottom line, listing and selling Short Sales in this market is no longer optional….and now…more profitable!

Agents, watch the FREE Agent Short Sale Secrets video and download your Short Sale Crash Course book. Clearly, you must learn how to list and sell short sales. Watch the FREE video now.

Here is the exert from the Fannie Mae release.

No Negotiation of Preforeclosure Sales Commission

Servicing Guide, Part VII, Section 504.02: Contacting Selected Borrowers

Effective March 1, 2009, closing of preforeclosure sales may not be conditioned upon a
reduction of the total commission to be paid to real estate agents to a level below what was
negotiated by the listing agent with the borrower, unless the fee exceeds 6 percent of the sales
price of the property in aggregate.  Servicers are reminded that they must continue to obtain
any approvals that may be required by interested third parties in connection with preforeclosure
sales.

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