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We were reading over the contract that the realtor gave us and he threw a 495.00 extra marketing fee in the contract. This was not discussed...only the usual 6%. We do not want to pay this and will not sign if this is the case.
Is this normal? I am wondering if we wil run into this with whomever we end up choosing. I thought printing up flyers and taking pics was a part of the realtors job and part of what they get such a huge commission for. This is our first time selling a home so maybe I'm just clueless. TIA!
In my area this is not something one might see very often. The only additional fee that is out there is some offices charge an "administration" fee. I'm not sure what this fee includes but I know two big offices in my area charge one. In my personal opinion I see the marketing fees like you mention when sellers go with a discount "ala cart" type broker where you pick what services you want and you are charged for those services. If you are using a "traditional broker" ,which it sounds like you are, I would certainly call him/her and ask him/her to explain the purpose of this fee and whether or not you are willing to pay it.
We were reading over the contract that the realtor gave us and he threw a 495.00 extra marketing fee in the contract. This was not discussed...only the usual 6%. We do not want to pay this and will not sign if this is the case.
Is this normal? I am wondering if we wil run into this with whomever we end up choosing. I thought printing up flyers and taking pics was a part of the realtors job and part of what they get such a huge commission for. This is our first time selling a home so maybe I'm just clueless. TIA!
Taking your post at face value, if I'm putting out 6% then I'm definately NOT paying anything else. Again, not knowing the whole contract except what you've posted I'd be ticked that the agent wants commissions PLUS expenses. Is it possible that the agent is undercapitalized and can't afford to start advertising unless you give him/her money upfront? Could it be a deposit so he/she is not out a bunch on advertising if you cancel the contract early? Is the "fee" rebated when you sell?
I'd definately ask for an explenation and removal of the "fee" if the answer does not satisfy you.
There are different practices for everyone. Personally, I don't charge admin fees or any extra fees.
And...I must say...it's pretty underhanded or tacky to just throw a fee in there that was not discussed beforehand, IMO.
Are you sure you are reading it correctly...that it's not a condition of early termination? Often times Realtors® will charge a fee for advertising and such if you terminate the contract early.
In the handful that I interviewed, none of them had fees like this. Have you inquired about it? If not, I certainly would and additionally, I would ask why he/she didn't have the cajones to point it out. But that's just me. :-)
We were reading over the contract that the realtor gave us and he threw a 495.00 extra marketing fee in the contract. This was not discussed...only the usual 6%. We do not want to pay this and will not sign if this is the case.
Is this normal? I am wondering if we wil run into this with whomever we end up choosing. I thought printing up flyers and taking pics was a part of the realtors job and part of what they get such a huge commission for. This is our first time selling a home so maybe I'm just clueless. TIA!
Hold your ground at 6%. I bet he/she will come around. If not dump 'em!
There is a large national franchise located here that does exactly that. They call it a transaction fee, but they charge in addition to their commission. I would move on to someone else.
If they can't market your home for 6%, find someone that can.
I agree with palmcoasting, it is probably a termination fee if you terminate his or her services. Call and speak with your agent, or potential agent.
This is not something that we do in our contract, our "outrageous" fees go towards marketing, advertising, writing and rewritting contracts, negotiating, talking continually to your mortgage broker and attorney, open houses as well the other 200 things we do for you, we feel that pretty much covers it all.
Maybe for 495 you get the super dooper marketing package where they type it up in the MLS....oh wait.
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TIA!
