Beware of .Com realtor scams if you are a realtor yourself and attempting to sell one of their listings. Even though it may seem like a great deal to a seller only shelling out $250. to list their home in the MLS, the reality is someone has to do the work of the listing agent who is absent. If the sellers do not know what they are doing and are too cheap to pay a lawyer then odds are you as selling agent are going to end up carrying the load for half the pay.
If you are going to go this route as a seller then my advice is to hire a real estate attorney to guide you and help close the deal. But, do your homework and hire an experienced realtor that you feel comfortable with, not one that has a pretty picture on a postcard or offers you a big discount. You get what you pay for and this is a big transaction for you as a seller, so do it right and sleep better.
The scam occurs, however, when the $250. is not enough for said "listing" agent. Once you enter into a contract he or she attempts to slide in an "administration fee" bill to the title company closing the transaction. How someone could have the gall to not do an ounce of work and then ask for a fee is beyond me. But do not pay it under any circumstance and alert your title company that it may be coming. If for some reason you were inclined to pay such a fee then the listing agent should get this agreed to in writing, much the same as we do when we list a home and disclose a processing fee, which is signed by the sellers. On a side note, however, the mere fact that people like this call themselves realtors makes a mockery of our profession and why the board or real estate commission allows them to operate like this baffles me.
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