Recently I have been in discussion with some colleagues about a Tranaction Fee for Buyers, its not uncommon here to see a Tranaction Fee for a seller, the Realtor pays upfront for video tours, advertising in print and on the web, and for many flyers, just to name a few things.
So what does the Realtor pay for upfront for a buyer? Well, in my case, gallons of gasoline to tour the clients around our city, printer ink and pages for MLS and CMAs, my time to do all this... break it down more and say my cell phone to call ahead to schedule showings. How about the cost of all the classes so I can do a professional job for my clients and be informed of all the new changes constantly happening in our mortgage industry and eco-laws and local government ordinances, these all affect how and why and where a buyer can purchase.
I read in the new REALTOR.org, Sept 2008 magazine there is currently a lawsuit challenging "administrative brokerage commission" this is on page 18. The lawsuit says it is against RESPA. This suit is being considered as a class action suit.
At this point, I have never charged a transaction fee... I was considering it... maybe I will reconsider until this is all sorted out.