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Old 01-23-2013, 07:25 AM
 
Location: Patriot Nation
52 posts, read 99,622 times
Reputation: 40

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I met a Realtor in the area who's "Buyers Agent" fee was a min of $5,000.00. Meaning, if his share of the commission was $3,000.00 I the buyer, was responsible to make up the $2,000.00 difference out of my pocket.
In cases of high end homes this isn't much of a problem, but if one is shopping in the $70 - 80 range this seems a bit excessive. yes/no?
Any thoughts on this?
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Old 01-23-2013, 07:37 AM
 
1,299 posts, read 2,010,467 times
Reputation: 245
Quote:
Originally Posted by BillyD0123 View Post
I met a Realtor in the area who's "Buyers Agent" fee was a min of $5,000.00. Meaning, if his share of the commission was $3,000.00 I the buyer, was responsible to make up the $2,000.00 difference out of my pocket.
In cases of high end homes this isn't much of a problem, but if one is shopping in the $70 - 80 range this seems a bit excessive. yes/no?
Any thoughts on this?
Yup that is over 6% on a $80,000.00 sale.
Stay away from those kind of So-called Real Estate professionals.
Find some body else.
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Old 01-23-2013, 07:39 AM
 
17 posts, read 36,620 times
Reputation: 16
Quote:
Originally Posted by BillyD0123 View Post
I met a Realtor in the area who's "Buyers Agent" fee was a min of $5,000.00. Meaning, if his share of the commission was $3,000.00 I the buyer, was responsible to make up the $2,000.00 difference out of my pocket.
In cases of high end homes this isn't much of a problem, but if one is shopping in the $70 - 80 range this seems a bit excessive. yes/no?
Any thoughts on this?
Find someone else. We used a buyer's broker and she didn't have a minimum fee.
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Old 01-23-2013, 07:56 AM
 
1,299 posts, read 2,010,467 times
Reputation: 245
And be very careful, read everything on the contract you sign.
They have started to add things that say that buyers are responsible for "Fee's" above the offer you make. That is an open-ended kind off thing they could make up all kinds off fee's.
Be Very Very careful when dealing with "Real Estate Professionals".
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Old 01-27-2013, 08:08 AM
 
Location: Long Island, NY & The Somerset at the Plantation, Fort Myers, FL
95 posts, read 186,582 times
Reputation: 71
Well unfortunately, he's not the only regular poster with a flare for unfair negativity. The bottom line is with some investment in research, you should be able to find a place in the Fort Myers to Naples corridor that will suit you just fine. Not all of Fort Myers is as bad as portrayed and not all of Naples is as luxurious as proclaimed. While the Market is definitely heating up, you can still get some very good buys. In my gated community, they sold 130 homes last year alone!

Last edited by Sunscape; 01-31-2013 at 07:00 PM..
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Old 01-31-2013, 03:53 PM
 
Location: Patriot Nation
52 posts, read 99,622 times
Reputation: 40
Smile Oh well

Quote:
Originally Posted by equalrightsforeveryone View Post
And be very careful, read everything on the contract you sign.
They have started to add things that say that buyers are responsible for "Fee's" above the offer you make. That is an open-ended kind off thing they could make up all kinds off fee's.
Be Very Very careful when dealing with "Real Estate Professionals".

I made an attempt to negotiate an alternative agreement with the buyer agent. I determined through previous experience with buying my only 2 other homes. That realtors for the buyer are considered by the sellers agent to be making "easy money"
However, I did appreciate my CC buyer reps effort when he showed me 3 homes on short notice. He did the usual eval and gave me his low & high value advice on how to present my first bid.
My offer to the agent was to give him 4 months exclusivity with me as a cash buyer (which virtually assures him of a pay day. My conditions for that were, to pay him 1% of the selling price of the home for his expertise etc.... He declined, and I had to respect that he held his ground.
The basis for my attempted negotiation of his $5,000 minimum fee was, it was prohibiting my ability to make that final offer of a few thousand more.
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Old 01-31-2013, 06:54 PM
 
Location: livin the dream
152 posts, read 316,089 times
Reputation: 51
Why not buy a condo on fort myers beach overlooking the water, many available in your price range.
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Old 02-01-2013, 03:22 AM
 
Location: Patriot Nation
52 posts, read 99,622 times
Reputation: 40
Wink Maybe

Quote:
Originally Posted by chadman154 View Post
Why not buy a condo on fort myers beach overlooking the water, many available in your price range.
Maybe later in life. I need a 2 car garage too get my hands dirty in. Grilling on the lanai etc... Condos tend to have too many restrictions on outside activity.
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Old 02-01-2013, 07:33 AM
 
Location: Meredith NH
1,563 posts, read 2,420,693 times
Reputation: 2868
Quote:
Originally Posted by BillyD0123 View Post
Maybe later in life. I need a 2 car garage too get my hands dirty in. Grilling on the lanai etc... Condos tend to have too many restrictions on outside activity.
Very true Billy.......that's why we decided to buy a single family canal home.You can't even grill on your patio at the condo's and if you happen to have a boat,hold onto your wallet.Fee's are astronomical for launching,storage and docking. Condo pools are often overtaken by rowdy visiting kids.
Love my little 3/2/2.....I can have a peaceful cocktail at my pool,while grilling and look at my boat sitting on the lift.My "fee's" are about $250 per month for lawn care,pool service,bug treatment and home watch...........try to match that in a gated community. Life is good in SWF
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Old 02-01-2013, 08:21 AM
 
17 posts, read 36,620 times
Reputation: 16
Default Grilling and condos

Quote:
Originally Posted by BillyD0123 View Post
Maybe later in life. I need a 2 car garage too get my hands dirty in. Grilling on the lanai etc... Condos tend to have too many restrictions on outside activity.
The grilling restrictions aren't the condo's fault. The Florida fire prevention codes prohibit grilling or cooking on balconies, under overhangs, or within 10 feet of any residence with more than 2 families, except when using an electric appliance. Condos and apartments have to enforce the 'no gas grilling' or end up with a fire code violation. Most of the condos we looked at in Florida had gas grills available on the grounds, but that doesn't seem worth the bother unless you happen to have a unit very close by.
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