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Old 02-25-2009, 12:52 PM
 
Location: West Cobb County
81 posts, read 225,858 times
Reputation: 22

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Hi, I am interested in making an investment in the area and I have noticed that some real estate agencies have a 399.00 buyer fee that I would have to pay in the event I purchased real estate.

Is this a state mandate fee as the agent told me? OR Is this something the state allows agencies to charge at their own discretion?

Thanks
Mike
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Old 02-25-2009, 01:34 PM
 
3,043 posts, read 7,082,664 times
Reputation: 897
I've never heard of this fee. Find another realtor. It shouldn't cost you anything as a buyer.
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Old 02-25-2009, 01:37 PM
 
Location: West Cobb County
81 posts, read 225,858 times
Reputation: 22
Thanks I just did do that. Much appreciate the response.

Mike
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Old 02-25-2009, 06:09 PM
 
Location: Fort Lauderdale
423 posts, read 1,505,459 times
Reputation: 93
I am a Realtor and it is not a state mandated/regulated fee. However practically every single company charge some sort of 'processing fee' (typically around $350 or so) to their clients. Ours is $195..... of course you can negotiate it with your Realtor. I have paid it myself for a couple of my clients in the past Good luck on the search...
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Old 02-25-2009, 10:05 PM
 
3,043 posts, read 7,082,664 times
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^^^ $195 to a BUYER's agent??? Is this in lieu of the 3% fee you collect from the seller??

I thought not.

A realtor wouldn't dare pull this bullcrap with an established resident. There'd be no discussion about "waiving" it either. In this market, realtors are just happy they're still earning enough to afford practicing their profession. If anything, they should be offering to refund a portion of their fee toward the sale in order to attract buyers. That's how few sales there are.

OP, you're a valuable commodity to a realtor. Don't let them make you feel like they're doing you a favor.
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Old 02-26-2009, 05:51 AM
 
Location: West Cobb County
81 posts, read 225,858 times
Reputation: 22
Folks, thanks for the posts.. Think your right, its the common law of supply and demand. I do believe that it may be in the best interest to be extremely competitive, however, it does seem like there are business folks in real estate that still take advantage of the "sucker" and that they think all are that come thru the door.

Again, certainly appreciate the information and post.

Regards,
Mike
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Old 02-26-2009, 05:56 PM
 
Location: Broward County, South Florida
137 posts, read 378,764 times
Reputation: 42
i was told that it was a florida regulation, new a couple of years. I did pay for it, however, my company would not pay it. I even quoted some state regulation that my realtor gave me. oh well. They would only pay the realtor fee on the sale of my condo where I left.
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Old 02-26-2009, 08:09 PM
 
3,043 posts, read 7,082,664 times
Reputation: 897
This sort of thing makes me so angry! I'm glad boards like this exist so the word gets out. Buyers should never under ANY circumstance pay a realtor fee in Florida.
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Old 03-02-2009, 01:41 PM
 
Location: Coventry
75 posts, read 252,110 times
Reputation: 49
Default Realtor fees

I wonder how many of you would go to work and hope that you would get paid?
I you did not, then you would just work harder the next day?

The real estate business is full of people just kicking tires. The real estate agents still must show them around and take time with them. They may in the end not buy anything. Its very common to charge a fee to be the buyers agent. You pre agree to this fee up front for exclusive access to the agent. If you want quality in any field, you must pay.

If you dont want to pay, I'm sure you can find an agent willing to help you for the hope of getting paid later.

Real estate commisions are not regulated, and are alway negotiable. If you want more information, contact your local realtor board. They will give you access to all the laws and consumer rights in your area.
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Old 03-02-2009, 02:23 PM
 
3,043 posts, read 7,082,664 times
Reputation: 897
^^ A buyer's fee does nothing to stop tire kickers.

Going through flat fee MLS services results in better deals for both buyers and sellers.

I'm sorry if this is your profession. This is just my opinion.
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