Short Sale Referral Program
We Pay You 25% of the Adjusted Listing Commission after 1% is paid for negotiations.
You refer the entire deal to TPA/LACSS and you do nothing else. TPA/LACSS pays you a 25% referral fee from the Adjusted Listing Commission upon closing. In most cases we receive a 6% Brokerage commission. 1% of the Purchase Price off the top goes directly to LA City Short Sales for Negotiations. The remainder 5% is split between the Selling Broker and the Listing Broker (2.5% each side). The Referring Broker will receive 25% of the 2.5% Listing Broker Commission. This arrangement is memorialized with the use of a C.A.R. Form RFA-11 Referral Fee Agreement, which is executed by the contracting Brokers.
The Referring Agent will be responsible for the following tasks:
- Making the initial introduction between the Seller, TPA and LACSS
TPA Listing Specialists will be responsible for the following tasks:
- Homeowner Consultation with Client aka Intake Process
- Disburse LACSS Welcome Package to Seller
- Assist Seller with completion of LACSS Homeowner Welcome Package
- Carefully examine and determine Listing Price and give recommendations to the Seller (unless it’s a Bank of America CoOp Short Sale)
- Prepare the Listing Agreement and all related Seller and KW disclosures
- Take pictures of the property for MLS unless using a professional photographer
- Complete Listing AVID for property
- Enter MLS Listing Details Public and Private Remarks
- Order Termite, Retrofitting, Natural Hazard Disclosures and 9A where applicable
- Coordinate all showings, open houses, and Broker Opens
- All Incoming Offers will be received and managed through www.TPAOffers.com
- TPA will prepare all Counters and Addendums to offer’s received if needed
- Reviewing of offers with the Seller(s)
- Receiving inbound calls and answering questions throughout the process from Selling Agents and potential buyers if needed – most information will be found on www.TPAOffers.com
- Attend all Inspections, Appraisals, BPOs, Termite, Retrofitting, etc..
- Updating Buyer’s Agent on Short Sale progress
- Manage all Advertising and Social Media
- Upon receipt of Short Sale Approval proceed with all Escrow Closing tasks
LA City Short Sales (LACSS) Negotiators will be responsible for the following:
- Collecting the LACSS Welcome Package and all Financial Documents
- Discussing and coordinate deal structure with TPA, Listing Specialist, Seller(s) and Buyer’s Agent
- Collecting of updated financial documents from Seller(s)
- File Submission to all Lien holders
- Negotiations with all Lien Holders
- Weekly Updates to Seller(s), TPA Listing Specialist and Buyer’s Agent
- Obtaining Short Sale Term Sheets (Approval) from all lien holders
- Obtaining Short Sale Extensions if needed
- Monitor and request foreclosure postponements from lien holders if needed
- Prepare for Escrow Closing upon receipt of final Short Sale Approval
***Inclusion of these tasks results in Higher Closing Ratios.
- All pricing is carefully reviewed and approved by our Senior Listing Specialist***
- Our team specializes in Public, private, counter & addendum language ***
- Our team manages buyer pre-approvals***
- Our team selects all services (i.e. escrow & title) ***
- All offers are submitted through www.TPAOffers.com ***
- Extensive Social Media Coverage through TPA and LACSS websites
- Mass Media Exposure – KTLKAM 1150 – Call Toni Real Estate Radio Show
- Team Support
Three Main Benefits:
- 95% CLOSING SUCCESS
- QUICK TURN TIMES (60 – 120 day APPROVALS)
- ESTABLISHED LENDER RELATIONSHIPS – OVER 500 SHORT SALES CLOSED OVER THE PAST 6 YEARS
WHAT YOU GET WITH US:
- ABLE TO PARTICIPATE IN THE MARKET OF THE MOMENT
- HIGHLY EXPERIENCED SPECIALIST IN MARKETING, PRICING AND NEGOTIATING RESIDENTIAL, PROBATE & COMMERCIAL PRE-FORECLOSURE – SHORT SALE LISTINGS
- THE OPPORTUNITY TO FOCUS ON GENERATING & CLOSING MORE BUSINESS
Welcome to LA City Short Sales. LACSS is a Southern California leader in the field of short sale negotiation, listing transactional and marketing specialization. Our principals and affiliates have decades of combined experience in all areas of the mortgage and real estate industries. Our specialists are highly trained and thoroughly knowledgeable in every aspect of this often complicated process. We have a comprehensive understanding of all the ins‐and‐outs and rules and regulations applicable to most foreclosure situations. Our expertise, relationships, and turnaround time is what differentiates us and our commitment to our clients is what sets us apart. It is this unique combination of industry‐leading expertise, professionalism, and extraordinary customer focus that enables us to offer the highest level of service to our clients.
You may have potential clients who are currently in a position where they owe more than their property is worth, and/or because of extenuating circumstances they can no longer afford to continue making payments on their mortgage. Often the best solution in this situation is to negotiate a short sale with their lender, which is also known as a real estate short pay‐off or a pre‐foreclosure workout. A short sale is an agreement with a lender to accept less than the amount owed by a borrower via a sale of the property to a third party. With this agreement, the lender releases the borrower from the mortgage, thereby preventing foreclosure.
Are you looking to increase your income? While a short sale can be a complex and time‐consuming process that can drain a REALTORS® resources, by working with LACSS you can leverage our relationships with lenders and our expertise in driving and managing the listing and negotiation process so that you can focus on what you do best: selling properties. By joining our referral program of REALTORS® you can enhance your earning potential, while affording yourself the opportunity to expand the scope of your services without becoming distracted from your core competency.
Don’t risk losing the sale by doing it alone! Short sale transactions are very complicated and time intensive! We’ve identified a way for us to effectively support you!
We are looking forward to working with you!