A Realtor asked us:

Nearly 9 out of 10 of my short sales, the lender cuts the commission from 6% to 5%. I am sick of this. They know they have us by the short hairs and do it automatically. Now I have GMAC being represented by IMPACT** that wants to take 1% of my 6% commission. They want me to sign a new fee agreement and commission disbursement form. What can I do and how can this be stopped.

Here's our reply:

I am having the same situation -- the first time I've experienced this -- but with a different company (RCS & Catalyst). Here is the first email we received from this guy:

Wanted to confirm  you are still the Listing agent on the above property. If so Catalyst is now working on behalf of RCS with the managing of this listing for faster processing with this Short Sale. I have attached the RESNET/Referral Agreement needed to move forward. Catalyst will assist with approved Reductions Marketing Strategy etc. Let’s get this property sold. I have the Interior BPO back and ready to talk reductio.  

Incidentally, the same guy, Anton Wimbish,works for RCS AND Catalyst!!  It's a racket, a ripoff. Servicing companies trying to skim 1% by digging into Realtor pockets!!

It's amazing. Here I am, working my high heels off to market & sell this house for a homeowner in distress and THE BANK wants 1% of my money to line their already stuffed pockets!!

**I'll bet you $5 that GMAC owns IMPACT.