I am buying a home. My realtor has charged me $595 for professional/admin fees. Is this customary?Should I pay

Question

I am buying a home. My realtor (Remax agent) has charged me $595 for professional/admin fees. Is this customary?Should I pay?

I have checked with some friends who have brought houses thorough non remax brokers. None of them paid the same. Can I refute the same.

Answer 1

I m a realtor and have never heard of a charge for buyers. he will receive 3% from the seller. That's a ripoff tell them you are backing out of the deal due to financing or home inspection unless they drop that fee. they will because they will receive 3% of the total purchase price of the home and that is better than nothing.

Answer 2

If you are not comfortable with a Realtor, you should definately re think working with them. I know my Broker now wants to charge a fee if a client wants to pull out of a Listing contract, but not a Buyers contract.
All offices are different, is this a Buyer /Broker contract?
Is this also a short sale? Because on a Short Sale the Realtor makes close to nothing in some cases.
Hope this helps,
Denise Stuart

Answer 3

I am a Realtor and in my area we do not charge any fees,just the commision to the seller,unless you buy a for sale by owner then the buyer can be charged if the seller refuses to pay, you can charge it I guess but it should be revealed in the Buyers Agency agreement that you signed.If it is not then call your local Baord of Realtors (should be in the phone book) and ask if that is a legal practise.If they say no then turn them in and refuse to pay.

Answer 4

Don't pay any fees to an RE Agent!!!!! That's if your a BUYER. Your best bet would be with an agent, let's say ZipRealty. You'll be getting a percentage back once you make a purchase - their going to pay you. Traditional RE Agents will be paid anywhere from 3-6% of your purchase price from the SELLER. With Ziprealty they offer 20% of what they make to you, the buyer. They also allow you to choose which homes your intested in (picture, map, discription) plus updates each day (new listing, changes). We're currently working with an agent who works for Ziprealty and we're happy. See for yourself.

Answer 5

Why does that sound like BS? think of roughly it like this.. you are the single procuring the residing house and going "in Debt" by using securing a loan. the supplier is the single that revenue from the sale. So who do you think of would desire to pay for the centers of the proffesional contained in the transaction? of direction it extremely is the supplier, you do no longer pay something!! the supplier checklist their residing house on the industry with a real belongings broking provider and has a similar opinion to pay them a % of the sale their centers. the real belongings broking provider then places the residing house on the industry contained in the distinctive itemizing provider (MLS) and advertises to all the different Realtors contained in the area that the home is on the industry and that they are prepared to share a factor of the commision if yet another Realtor brings the customer. because of the fact the consumers agent your Realtor is going to convey jointly that agreed upon factor of the shared commision for bringing the supplier you.. the customer! so which you will possibly answer your question... confident you will desire to hire a Realtor and not it does no longer fee you something. terrific of luck!

Answer 6

absent any written agreement with this realtor, I'd say "NO!!"

and if s/he gets "funny" about it, complain directly to both the seller [s/he is legally their agent] AND the state board of realtors/local MLM.

sure seems unethical to me.

Answer 7

I have never heard of such fees! I agree with John!!!