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  • Short Sale Agents, How do you feel about co-listing?

    I guess this question does not have to be about short sales only, but here is my question.

    I do not co-list with anyone except my wife. I pay a referral fee and I take over the job. I will keep the referring agent posted on progress, and will even invite them to the closing. I do what I can to maintain their relationship with their client, plus I pay them a referral fee of 25%. I am really glad to do all of this, and thankful for referrals.

    Someone was recently offended that I do not want to co-list. I can't think of why I would? Maybe I still have a bad taste in my mouth about co-listing.

    I never miss an Independent Broker meeting or an MLS meeting. I can be relied on, and most people view me as a hard worker. That is the reputation I have worked for, so I am glad to have it.

    I had a bad experience many years ago. A Seller Client was in a rough place and she was concerned that my working at a small company lacked the amount of exposure that a large company would have, which is not the case. In the end, she insisted I co-listed with a franchise, after I had it active on the market for a month with no offers. She was right, I had not procured any offers, and I was between a rock and a hard place, because she seemed desperate. I ended up co-listing, the other agent put up his franchise sign, I took mine down. I continued to hold the home open every weekend (Yes, really). I ended up finding the buyer and closing the deal. The other agent even asked me to return his sign to his office because the listing was far out and he knew I had to go get my lockbox and give the buyers the keys. He collected half the commission and didn't have a care in the world. It was odd. He has retired now, but he was a VERY productive agent, so I would have thought he was a harder worker. I presented him with the advertising bill at closing and he told me it was my choice to advertise open houses every week. He was right, that was true, so I paid the bill.

    I am not going to fight with cheap jerks about a bill like this, but I will decide not to assume people will put in 50% of the effort or foot 50% of the bill.

    Short sales are that much more difficult, and time intensive, and their is no way I would want to give away half of the commission to an agent who either does not know how, or does not want to, do the work required to close. I do, I want to do the work required to close, and I also want to collect my pay.

    I do co-list with my wife, but we have a long history of working well together.

    What is your experience with co-listing? Why do you do it? Why don't you? Do you only co-list within your office, or do you co-list with outside agents?

    Does your office have restrictions with co-listing with outside agents?
    Chris Knox, Principal Broker
    Jackson County Oregon Real Estate Sales
    http://www.LandlineRealEstate.com

  • #2
    Re: Short Sale Agents, How do you feel about co-listing?

    Originally posted by Chris Knox View Post
    I guess this question does not have to be about short sales only, but here is my question.

    I do not co-list with anyone except my wife. I pay a referral fee and I take over the job. I will keep the referring agent posted on progress, and will even invite them to the closing. I do what I can to maintain their relationship with their client, plus I pay them a referral fee of 25%. I am really glad to do all of this, and thankful for referrals.

    Someone was recently offended that I do not want to co-list. I can't think of why I would? Maybe I still have a bad taste in my mouth about co-listing.

    I never miss an Independent Broker meeting or an MLS meeting. I can be relied on, and most people view me as a hard worker. That is the reputation I have worked for, so I am glad to have it.

    I had a bad experience many years ago. A Seller Client was in a rough place and she was concerned that my working at a small company lacked the amount of exposure that a large company would have, which is not the case. In the end, she insisted I co-listed with a franchise, after I had it active on the market for a month with no offers. She was right, I had not procured any offers, and I was between a rock and a hard place, because she seemed desperate. I ended up co-listing, the other agent put up his franchise sign, I took mine down. I continued to hold the home open every weekend (Yes, really). I ended up finding the buyer and closing the deal. The other agent even asked me to return his sign to his office because the listing was far out and he knew I had to go get my lockbox and give the buyers the keys. He collected half the commission and didn't have a care in the world. It was odd. He has retired now, but he was a VERY productive agent, so I would have thought he was a harder worker. I presented him with the advertising bill at closing and he told me it was my choice to advertise open houses every week. He was right, that was true, so I paid the bill.

    I am not going to fight with cheap jerks about a bill like this, but I will decide not to assume people will put in 50% of the effort or foot 50% of the bill.

    Short sales are that much more difficult, and time intensive, and their is no way I would want to give away half of the commission to an agent who either does not know how, or does not want to, do the work required to close. I do, I want to do the work required to close, and I also want to collect my pay.

    I do co-list with my wife, but we have a long history of working well together.

    What is your experience with co-listing? Why do you do it? Why don't you? Do you only co-list within your office, or do you co-list with outside agents?

    Does your office have restrictions with co-listing with outside agents?

    The agreement regarding the co-listing arrangements should be reduced to writing and be signed by both brokers and the seller to assure that all parties are on the same page.

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    Chris Knox My wife and I work as a Real Estate sales team in Jackson County Oregon. Find out more about Chris Knox

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