Comments on: Boomers And Reverse Mortgages – Another Crisis In The Making?

By: Donna S. Robinson

Donna S. Robinson — Fri, 21 Mar 2014 13:04:27 +0000

Hi Bob, thanks for your comments, though I get the distinct impression that you may be a lender who sells reverse mortgages. Actually I agree with you about the 6% commissions. I have not been an active agent now for several years, but I have an investment property that is listed with an agent right now, because it is located in another city. The listing does include a 6% commission. I’m not overly excited about it, and yes they are difficult to justify, other than the fact that most buyers who can qualify tend to work through an agent. I’ll take you up on your challenge and see what I can come up with on this topic. Personally I think that the entire real estate industry should be restructured, and should not be totally commission based.

By: Donna S. Robinson

Donna S. Robinson — Fri, 21 Mar 2014 12:59:48 +0000

thanks Dan.

By: Dan Stone

Dan Stone — Thu, 20 Mar 2014 16:19:17 +0000

Hi Donna,
Excellent information. A salesman attempted to sell my father a reverse mortgage, which he absolutely did not need. We need to educate our seniors of the pitfalls. Thank you for writing this article.

By: Bob Green

Bob Green — Thu, 20 Mar 2014 12:24:35 +0000

Instead of speaking on an industry that your are truly not informed, why don’t you speak on, and try to justify a 6% commission on real estate sales. For example why not tell folks why people in your industry are worth $24,000 dollars on the sale of a $400,000 home. Now that’s a story from a real estate person I’d like to hear!!