How are Asset Mgrs paid, by units moved or $ of sales?

[Matthew Peterson]

Since the auction I was hoping to bid on hasn't even come online yet and my wife is breathing down my neck to get her a house...I made a cash offer on a REO mid week last week. Just a few curiosity questions.

1) How are asset mgrs paid? Does it behoove the AM to hold firm to his listing price or should he move the unit quickly if we are close to his asking price.

2) The listing realtor who is working with the AM told my realtor to hold firm on our original offer. The list price was $320K, I offered $290K cash. They countered with $315K, but I was told to hold firm.

a) Should I at least counter with $292K to keep the bank negotiating.

3) The home needs new carpet, paint and it looks like a pipe burst in the upstairs hallway since there is some shoddy sheetrock done on the ceiling on the 1st floor right under that BR. I was hoping they would offer to do some repairs, but they only said I have the right to get my earnest money back if I don't like the inspection.

Any thoughts, ideas, etc would be greatly appreciated.

[Mitch Kronowit]

Originally posted by Matthew Peterson:

1) How are asset mgrs paid?

That's a great question and I would like to see the official answer myself.

From my experience, I thought asset managers were paid in proportion to their level of stupidity and incompetence.