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Old 09-21-2007, 02:52 PM
 
31 posts, read 129,338 times
Reputation: 22

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Curtis Johnson's contract says the seller has to not only pay 6% but also an add'l $500 or so more for "expenses" that are paid at closing.

WTF? You would think the 6% is enough. Is this normal?
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Old 09-21-2007, 02:55 PM
 
Location: Southern Arizona
9,556 posts, read 30,131,550 times
Reputation: 11555
Quote:
Originally Posted by Monster Daddy View Post
Curtis Johnson's contract says the seller has to not only pay 6% but also an add'l $500 or so more for "expenses" that are paid at closing.

WTF? You would think the 6% is enough. Is this normal?
I smell ca ca, Monster.

Is this agent associated with a major broker?
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Old 09-22-2007, 10:07 AM
 
Location: Pinal County, Arizona
25,098 posts, read 37,915,548 times
Reputation: 4934
While I would not add such charges, I must admit that this type of charge has been around for some time - it covers expenses like advertising / marketing etc and allows the listing broker to offer a higher co-broke which can attract more buyers -
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Old 09-22-2007, 10:10 AM
 
Location: Pinal County, Arizona
25,098 posts, read 37,915,548 times
Reputation: 4934
Quote:
Originally Posted by Bummer View Post
I smell ca ca, Monster.

Is this agent associated with a major broker?
Curtis is a designated broker - with his own company. He has 30 agents or so
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Old 09-22-2007, 10:40 AM
 
Location: Southern Arizona
9,556 posts, read 30,131,550 times
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Quote:
Originally Posted by Greatday View Post
Curtis is a designated broker - with his own company. He has 30 agents or so
Very interesting, Greatday

There will always be miscellaneous (aka: hidden) fees but a flat "additional expenses" fee smells fishy.

Obviously, time to renegotiate a better contract or look for another agent.

NOTHING SPEAKS LOUDER THAN YOUR BACK . . . MY TWO CENTS WORTH!
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Old 09-22-2007, 10:41 AM
 
Location: Phoenix Arizona
39 posts, read 176,065 times
Reputation: 29
This is pure crap. You will find many realtor's that try to do this. Only goes to show how schlock of a business it is. I would deny paying the fee's and threaten to report him to the Realtor board. (This site is moderated by a Realtor so watch how fast my comment gets deleted....lol... )
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Old 09-22-2007, 10:42 AM
 
Location: Pinal County, Arizona
25,098 posts, read 37,915,548 times
Reputation: 4934
Quote:
Originally Posted by Mathiasthegreat View Post
This is pure crap. You will find many realtor's that try to do this. Only goes to show how schlock of a business it is. I would deny paying the fee's and threaten to report him to the Realtor board. (This site is moderated by a Realtor so watch how fast my comment gets deleted....lol... )
REALTOR "boards" do not govern fees - report him for what?

There is nothing illegal or unethical about what he does -
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Old 09-22-2007, 12:36 PM
 
Location: Tempe and Payson
1,197 posts, read 2,898,817 times
Reputation: 1701
Quote:
Originally Posted by Greatday View Post
REALTOR "boards" do not govern fees - report him for what?

There is nothing illegal or unethical about what he does -

I agree with this statement. The fee is negotiated solely between the agent and the seller, but remember that "everything" is negotiable for that fact that no one can "govern" the fees paid to an agent or broker. Not to say that some won't try to tack on "special fees and reimbursements", but not all of us do that. Realize that there are certain expenses like advertising that the agent must pay out of their own pocket up front and since the market is so slow right now and houses may not sell before the agreement with the agent expires, then the agent may not get this money back at closing for doing a job for you and advertising your house. Just like anyone else who puts up a sincere and good effort to do a job....would you like not to be paid for your work? I can understand this to a point and because the market is so slow, more of the same will probably be the "norm" very soon. But again, it's all negotiable.
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Old 09-22-2007, 01:07 PM
 
343 posts, read 499,228 times
Reputation: 44
Put a "For Sale By Owner" sign out and see how well you do it on your own. You'll come running back to a realtor because a potential buyer will haggle you down hard. If the realtor is doing a good job, this extra fee is extremely minimal.
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Old 09-22-2007, 01:18 PM
 
Location: Southern Arizona
9,556 posts, read 30,131,550 times
Reputation: 11555
Quote:
Originally Posted by Greatday View Post
REALTOR "boards" do not govern fees - report him for what?

There is nothing illegal or unethical about what he does -
I agree, Greatday

ILLEGAL is not the correct term in this case . . . possibly a little UNETHICAL, but not illegal.

As posted earlier, anything can be either written IN or OUT of a contract prior to signing.
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