How to deal with an uncooperative Listing Agent?

[Account Closed]

I have a borrower (self-employed) who is purchasing a 640k property in Orlando area who has had to clear up unexpected conditions in order to obtain a loan commitment, but he has done what was needed and we're back on track.

However, we need a few days closing extension and the Listing Agent is difficult, likely because from what I hear, she has a buyer ready and she would get the entire 6% Points real estate commission.

I'm trying to be nice, but the listing agent and her title agent refuse to surrender the seller's contact info.  I easily found the seller's cell numbers and emails online, so I think it may be time for me to simply Circumvent the Listing Agent and contact the sellers directly.

What issues might this cause and what could prevent a Mortgage Broker from Circumventing the Listing Agent in effort to deal directly with the sellers?  

[Bill F.]

Originally posted by @Account Closed:

@Russell Brazil, you usually give good advice and are, I'm sure, a great realtor.

However, let's stop focusing on me as a Florida Mortgage Broker who has an experienced borrower who was able to conceal a foreclosure that the lender's QC discovered late in the process and focus on the 800 pound Gorillas in the room and that is the following:

$640,000 x 6 points realtor commission = $38,400

$19,200 to the listing agent

$19,000 to the buyer agent

Out of $38,400, you don't think it's appropriate for a Florida Mortgage Broker to make each realtor come off of a few of the mountain of bananas they're both sitting on to keep the deal together?

The "experience level", whatever that means, of the borrower is inconsequential. The borrower didn't disclose a materially important fact (the foreclosure) to you, his broker. You didn't catch it. Your lender caught it at the 11th hour. You want the two agents to cough up the cash to cover your mistake AND you want to cut the agent's out of the loop and call the seller to convince him to do that all based on the premise that 'agent's make enough'? Bold Strategy. 

Maybe your borrower can add $5.6k to the sales price as a stupidity tax for trying to hide the foreclosure and wasting everyone's time. You could also chip in too. 

If I was the seller getting that phone call/email from you with those facts, I'd drop this buyer like a bad habit, maybe you should consider doing that.

[Account Closed]

@Bill F., we're too deep into the deal and too close to closing.  I already dropped $1500 on the Mortgage Broker side.

It's like we're on a ship that has run out of fuel in the ocean and the seller's listing agent and buyer's agents are both sitting on 19,200 gallons of fuel EACH!

I've contributed 1,500 gallons from a much smaller about, just need both realtors to contribute 2600 gallons of fuel from their 36,400 gallons stock pile of fuel to get the ship to port!

[Account Closed]

@Bill F., like I've said before, given that you're from JAX, NC and in your pic I see the red brick background that looks like you're standing in front of a Marine HQ or Chow Hall somewhere on CL or Geiger, so you get a pass and I'll hold back on replying to your comments like I would normally do.

However, I'm assuming you know the rest of the saying...No better friend, No W_____________y ... correct?  

[Account Closed]

@Bill F.

like I've said before, given that you're from JAX, NC and in your pic I see the red brick background that looks like you're standing in front of a Marine HQ or Chow Hall somewhere on CL or Geiger, you get a pass and I'll hold back on replying to your comments like I would normally do.

However, I'm assuming you know the rest of the saying...No better friend, No W_____________y ... correct?

[Account Closed]

Great news!  

 The listing agent and buyer's agent were not too happy with me as a Florida Mortgage Broker making them come off of some of that $38,400 in realtor commission Points, but after I educated the seller and my borrower / buyer about Realtor Rebates, both realtors agreed to each do $2600 realtor rebate for a total of $5200 and the seller is agreeing to a 30 day extension!

To all BP Investors,

This is just one of many ways to get a sales contract extension if you don't have the reserves needed to fund your loan and need help.

[Tom Gimer]

I would use Low Jack to locate the extension.

[Sharon Powell]

I was going to hold my tongue and let you continue baiting people with this made-up scenario, but then you went too far with your back-handed comment to the military-looking guy. You’ve done it before to at least one other military member and it’s completely inappropriate.
Stop trolling this forum and wasting people’s time with all the crap you keep posting. I personally would have taken you more seriously and actually thought about what you were saying in all your posts if you didn’t keep making out-of-line comments about realtors and military people, and being rude to the others who were trying to actually engage you, but couldn’t keep up.
Come back when you can present your lending program in a professional way- that means being honest and respectful. Until then, you have no credibility and no business being here.

[Account Closed]

@Sharon Powell @Tom Gimer @Mike Cumbie and others

Please remember, this is not a site to benefit realtors or to stroke realtor's egos.  If you're looking for that, jump over to Active Rain.   

BIGGER POCKETS is a site for real investors to learn REAL money saving strategies that they would otherwise NEVER be exposed to! 

All is good in the neighborhood again! 

Per my request, the Listing Agent &  Buyer's Agent  are both giving up $2600 each from the $38,400 realtor points, and as the Mortgage Broker, I'm also contributing $1500 to hold the deal together!

>>>To all the BP Investors,

This is just one of many ways you can benefit from Real Estate Commissions!

Always remember to treat your realtors well and be cooperative, but when you get in a bind, real estate commission can be used to save your deals!

[Mike Cumbie]

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