Typically the seller agrees to pay 6% commission to sell the house, and if the buyer has an agent the buyer's agent and the seller's agent will split the 6%.

I love getting a more indepth, behind the curtain perspective of these types of transactions as it helps tremendously when you are in the pits.I interviewed a short sale attorney today, and his negotiator which just left him supposedly just negotiated a situation where the bank paid the attorney 13k for the "attorney fee"....Typically I have seen agents cap out at 7% commissions, and the lawyer/negotiator taking down about 500-3000 a transaction.

There was no address but the zip code said 33133, which is a very expensive area.The listing had no pictures and said it was a 1/1.I called the listing agent immediately and said I was submitting a cash offer with zero day due diligence period and was ready to close immediately.The first question she asked me was if I was a realtor, to which I said no.I could hear the dollar sounds ticking over in her had as she calculated her commission going from 3% to 6%.I heard nothing for 2 weeks and then received a hold harmless form which I had to get notarized.I asked if that meant I got the property but I didn't get an answer.There were two outstanding violations for a roof repair and exterior painting required.

Also, borrowers have a really bad taste in their mouths about their prior CMBS experiences (high legal fees, no interest rate lock, defeasance pre-payment penalty, cash flow sweeps, lock boxes, onerous Tenant Improvement/Leasing Commission/CapEx Reserve Requirements)...

Depends on the work required.After I did the first "owner held" deal there was a learning curve, things to iron out are the agreements, making sure you can secure the deal (deeds in escrow, hint, hint) so they can't back out, solid numbers on payoff, closing costs, accrued interest/payments to carry and who pays, materials and labor, power of attorney if needed, insurance and commissions if any.

Marketing agents for turn key companies who are acting as RE brokers and taking a commission to steer you only to those companies that pay them.3. and under the radar turn key companies that do more of a personal service type job.. the key is PM long term and quality rehab up front and not choosing war zones to begin with.

@joseph 70% after repaired Value minus repairs doesn't work for the seller but what might work is a joint venture with a sellerSometimes it's better to talk to the seller directly with the agent and tell them exactly how the real estate investor world works Pencil out a possible solution 70% of ARV minus repairsIf that number is terrible then tell them you would consider doing a joint venture where you would bring in your own money to repair the house and then resell it with the realtor getting a commissionI would bring in a rehabber GC where they could guarantee the repairs on a certain budget and you get private money for that amount of repairsI would charge a fee of 5 to 7% of value for joint venture fee650- 65 costs to sell with commissions and closing costs - 200 in repairs - 32 jv feeSay 350k net to sellerBeats the 291 MAO1 buy w private mortgage no payments for 6 mo2 own it and repair it with private money3 resell it w agent4 pay off note to seller and private money loan@Joseph ChillemiGo Red Sox Nation!

Current time flexible job has no commission.  

I was under the impression that a buyer's agent got paid out of the commission the seller pays, which the agents split. 

I have been in my sales position for 6 months now, collecting commissions for about 4 months at this point.