Do realtors charge the buyer a fee on top of their commission?

Question

When I went in to sign the papers to make an official bid on a home my realtor is charging me $350 if the sell of the house goes through on top of her 6% commission. Is this common practice for realtors? She said it's her fee and most realtors charge a fee to buyers for their services. I can't find anything on the internet that verifys this.

Answer 1

It sounds like an admin fee. A large number of companies are charging this fee (they may be calling it something else) now. In my area all the large franchises and a lot of the independents are charging from 150 to 250. It's a junk fee. Pure profit for the brokerage. If your actual agent is receiving any of it I would be surprised. It's just one of the reasons I left a large franchise for a small independent firm.

Answer 2

What is the $75.00 for? This may be a violation of Section 9 of RESPA: Real Estate Settlement Procedures Act, a federal law. Basically it says that a buyer or seller can't be charged for something they don't receive a direct benefit from. It sounds like the broker is just trying to make more money. If you like the agent, just tell him/her you won't pay the $75.00. Real estate commissions are negotiable. Each office establishes their own commission. realtor.sailor

Answer 3

That realtor is not working for you. They have a contract with the seller. There are closing costs involved above and beyond the sales commission but an additional fee to the selling agent is not one of them.

Answer 4

Did you sign papers to THIS statement ,,,???Sometime I have gotten them down a point off their commission but then if she is doing something special for you and you agreed well you pay

Answer 5

This is very unusual. Find another realtor.

Answer 6

no not usually