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Port St Lucie, FL
No, but the broker across the street does and the clients don't seem to mind.
Port St Lucie, FL
A topic the sets my soul on fire...
In Florida most offices charge a transaction fee and so do we.
The agent can only charge the person that they have a relationship with. It is a violation of RESPA to charge a fee to someone that is arm's length.
Let me clarify: if it is your buyer or your seller you can charge an extra fee as long as it is disclosed up front and the party agrees to it.
The LA cannot charge the buyers agents buyer anything. Likewise the BA cannot charge the seller $300 for gas money for bringing the buyer, either.
This fee has to be disclosed at the time the agent will be working with that consumer. It cannot be just placed on the HUD.
The LA charging the BA a transaction fee that is only for the LA benefit? Not a chance!! I never agree. Not even a penny...
I answer my own phone and handle my own files. Under what theory should I be obligated to pay the LA overhead? None!
yes, but not to buyers and renters.
San Jose, CA
No, I do not nickle and dime my agents to death. There are still a few greedy Brokers and Big box companies that charge way more than they really should.
I am the broker, and no I do not. We are paid commission to help buyers and sellers and I think this is a garbage fee.
Punta Gorda, FL
I can't say but the answer is yes
John McCormack, CRS
I am a broker.
Ours happens to be cheap at $165 and it's charged to buyers and sellers. In Florida we can not call it a transaction fee, it's additional commission and is stated in the disclosures.
There are lots of business models out there. The most effective one is the one that gives you the value you are paying for. I have a sliding scale for my agents and I reward them for:
- having NAR certifications and designations
- years of experience in the real estate industry
- community service
I do not charge transaction fees to my agents or our clients.
I only allow it on small sales otherwise I do not allow it. Not having it is part of our marketing strategy and it works well
No, we have no transaction fees. I'm an independent contractor and within reason have total discretion on the fees/commissions I negotiate with my clients.
We charge the agent. They can pay or pass on to their clients. We charge $175; however many agents charge their client more then that.
Chris - My broker does not charge any "transaction fee", or any other admin fee, so with no fees, none are passed on to any of my clients. My broker only takes a very small portion of the commission. It is a very good deal.
The transaction fee in my market center has always been optional for buyers and sellers. I've never charged it to my clients.
Chris Lima - short answer to your question is 'NO'!
Chris, our brokerage does not charge a transaction fee.
When I worked for brokers, they never charged an admin fee or any such fee.
Back when I first started and worked for a big name brokerage, they charged a franchise fee, a percentage of the commission and then started charging a "flat fee commission", which the salesperson was supposed to get the client to pay.
I wasn't going to punish a client for selecting me. I thought it was ridiculous and I left.
The fee based model makes much more sense to me.
i pay 200.00 transaction fee for every 250k , 25.00 a monthly fee ; i love it
our regional office collects 4% of each commission....the broker/owner charges 1%.... and this applies to every commission including rentals.....we pocket 95% of the commission..... we pay for our own expenses and pay a desk fee of $1,000/month......