A few years back when I first started in Real Estate I worked for a National Franchise company, I was not aware of their modus operan-dum until I got my first commission check. First I had to find the customer (buyer or seller) hold hands in what seemed to be for ever. Finally arrive at a fully executed contract, go through the inspection period,(OOH and don't forget the friends and extended family that wanted to see the property and give their opinions) the repairs, the cancellation period, the closing and finally the funding. At last with check in hand I would go back to my office and turn in a copy of the HUD STATEMENT, CHECK and WAIT.
I had no idea that the commission check would have to be sent to the corporate office and that it would take an additional 5 to 7 days for me to get paid. To make things worst don't forget unless you have a strong relationship with your bank, most banks will put a hold on a corporate check and add an additional 3-5 days waiting time for all the funds to clear (THANK YOU) bank for holding my hard earned money. So I decided this was for the BIRDS and changed companies. Have lived happily ever after, until recently when I changed companies again do to personal reasons, my new company won't release funds on RENTALS until the renters move in even though all the funds have cleared escrow.
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I had no idea that the commission check would have to be sent to the corporate office and that it would take an additional 5 to 7 days for me to get paid. To make things worst don't forget unless you have a strong relationship with your bank, most banks will put a hold on a corporate check and add an additional 3-5 days waiting time for all the funds to clear (THANK YOU) bank for holding my hard earned money. So I decided this was for the BIRDS and changed companies. Have lived happily ever after, until recently when I changed companies again do to personal reasons, my new company won't release funds on RENTALS until the renters move in even though all the funds have cleared escrow.
Comments are welcomed
Manny Reynaldo - http://www.2bocahomes.com/