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Old 10-22-2018, 01:07 PM
 
Location: Columbia, SC
8,873 posts, read 17,523,219 times
Reputation: 6265

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Quote:
Originally Posted by I'll Say View Post
Wow. It sounds like you have to watch these guys like a hawk. hard to say they are there looking after your interests if they are slipping extra fees in at the last minute. shocking.
If it's disclosed, it's hardly "slipping it in". I, nor the OP, were privy to the signed agreement or conversation between the seller and the agent. Unless you were there, I don't think it's fair to levy left_handed accusations just_because a charge appeared on the settlement statement. After all, that seller must not have objected to charge and this is the just the OP asking a question. So what insider information do you have that we don't?
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Old 10-22-2018, 02:06 PM
 
93 posts, read 19,866 times
Reputation: 97
Quote:
Originally Posted by Brandon Hoffman View Post
If it's disclosed, it's hardly "slipping it in". I, nor the OP, were privy to the signed agreement or conversation between the seller and the agent. Unless you were there, I don't think it's fair to levy left_handed accusations just_because a charge appeared on the settlement statement. After all, that seller must not have objected to charge and this is the just the OP asking a question. So what insider information do you have that we don't?

This is a very unfair post. Please review the thread flow before making an uncivil and snarky comment like that. I was responding to MJ's post #6 on this thread where a scenario of agents trying to "slip it in at the last minute" was referenced. If you wish to argue about something you think is "left handed accusations" then take it up with the one who raised it initially. Not me for making a simple comment on it! I await your apology.
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Old 10-22-2018, 03:34 PM
 
Location: Columbia, SC
8,873 posts, read 17,523,219 times
Reputation: 6265
Quote:
Originally Posted by I'll Say View Post
This is a very unfair post. Please review the thread flow before making an uncivil and snarky comment like that. I was responding to MJ's post #6 on this thread where a scenario of agents trying to "slip it in at the last minute" was referenced. If you wish to argue about something you think is "left handed accusations" then take it up with the one who raised it initially. Not me for making a simple comment on it! I await your apology.
Perhaps you're right, an apology is in order. I'll be waiting for yours for slandering the agents on here trying to help answer questions, just_because you can do that as an anonymous troll.
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Old 10-27-2018, 02:31 AM
 
8,465 posts, read 7,462,608 times
Reputation: 18471
This can be to reimburse an agent money he advanced, to have house cleaned after seller moved out, having lawn mowed waiting for sale on a vacant house, often money agent advanced waiting for sale and closing. These types of things an agent takes care of and pays out of their pocket, on their listings, when seller does not have money to pay for such extras.

I have even had to send in my part time crew to paint the interior, replace a busted water softener, replace one carpet. Things that had to be done, to get a top price on a property. And with investment property it can be much more. The seller did not have money to do it, and without only buyer would be a flipper at a big discount. This amount would show on closing papers as a special charge not itemized, with seller having gotten a list of charges in advance, and signed a form authorizing the charge. I had a part time crew, that was headed by a man that been head maintenance man over large apartment complexes for 25 years. now retired. This arrangement was a lot cheaper for my sellers, than hiring contractors.

Word got around I offered such service, and the seller did not have to come up with money they did not have, got me some prime listings.
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Old 10-28-2018, 07:28 AM
 
Location: Charleston, SC
4,088 posts, read 3,252,935 times
Reputation: 3471
Quote:
Originally Posted by littlebebe View Post
We are currently buying a house and I noticed on the Settlement Statement the seller is being charged 6% commission to their real estate agent. This percent is the norm in our area. However, under miscellaneous there is a 200.00 charge to the seller for Base Commission to be paid to the realtor. What is this charge?

I remember my realtor mentioning that some agents charge other fees above the 6% commission fee.
I typically get much more than that during negotiations. We have an admin fee that we always try to collect from the seller as well as an extra percentage amount. If you don't ask you'll never get those fees. I really enjoy sitting across the table from the seller's agent and getting that glare as they realize I've made thousands more than they did on the deal. It's a satisfying feeling. Especially if my buyer's needs were met and the home appraises for well more than they're paying.
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Old 10-29-2018, 08:29 AM
 
Location: Columbia, SC
8,873 posts, read 17,523,219 times
Reputation: 6265
Quote:
Originally Posted by WiseManOnceSaid View Post
I typically get much more than that during negotiations. We have an admin fee that we always try to collect from the seller as well as an extra percentage amount. If you don't ask you'll never get those fees. I really enjoy sitting across the table from the seller's agent and getting that glare as they realize I've made thousands more than they did on the deal. It's a satisfying feeling. Especially if my buyer's needs were met and the home appraises for well more than they're paying.
So you'd rather needle the seller for extra commission and fees instead of negotiating a lower price for your buyer and getting them a better deal? Is it harder to deal with the sellers and listing agents after you tick them off? How do your buyer clients, to whom you have a fiduciary duty, feel about this? It's satisfying even if you don't meet your buyer needs, but even more satisfying when you do happen to meet your buyers needs? So you actually admit you put yourself first? So is this what Jeff Cook Real Estate teaches all their agents?

I can't decide what the worst thing about your post is...the fact you do it or the fact that you're proud you do it.
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Old 10-29-2018, 09:27 AM
 
Location: Cary, NC
31,773 posts, read 55,686,317 times
Reputation: 30424
"I can't decide what the worst thing about your post is...the fact you do it or the fact that you're proud you do it."

I wish I had said that.
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Old 10-29-2018, 09:56 AM
 
3,248 posts, read 2,771,146 times
Reputation: 6621
Quote:
Originally Posted by WiseManOnceSaid View Post
I typically get much more than that during negotiations. We have an admin fee that we always try to collect from the seller as well as an extra percentage amount. If you don't ask you'll never get those fees. I really enjoy sitting across the table from the seller's agent and getting that glare as they realize I've made thousands more than they did on the deal. It's a satisfying feeling. Especially if my buyer's needs were met and the home appraises for well more than they're paying.

Thousands in junk fees? Are you doing any seminars in the Central Florida area in the near future?
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Old 10-30-2018, 04:56 PM
 
Location: Raleigh NC
7,930 posts, read 6,246,151 times
Reputation: 7037
Quote:
Originally Posted by MikeJaquish View Post
"I can't decide what the worst thing about your post is...the fact you do it or the fact that you're proud you do it."

I wish I had said that.
how about the fact that as a supposed agent, he makes the same mistake of buyer vs seller and selling agent v listing agent just like consumers do?
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Old 10-31-2018, 07:56 AM
 
Location: Columbia, SC
8,873 posts, read 17,523,219 times
Reputation: 6265
Quote:
Originally Posted by BoBromhal View Post
how about the fact that as a supposed agent, he makes the same mistake of buyer vs seller and selling agent v listing agent just like consumers do?
I actually wonder if Mr. Brad Braun that works for Jeff Cook Real Estate in Charleston, SC discloses to his buyers that he is going after more commission up front?

I wonder if Jeff Cook teaches all his agents to use these tactics and if so if Jeff Cook discloses to his buyer clients what they are doing? I know if I were a buyer and my agent was doing something that hurt my negotiations or opportunity to get the house I wanted I'd be none too pleased.
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