Home Buying in Ocean Pines>Question Details

Pam, Both Buyer and Seller in 21085

Do all real estate companies charge a processing commission?

Asked by Pam, 21085 Thu Dec 2, 2010

I am interested in buying a piece of property in Ocean Pines and within the various documents that need to be signed there is a notice stating a $325 fee will be charged to buy AND seller basically to house records. I have lived in MD all my life and never heard of this. Anyone in the know please advise.

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Good morning Pam. Although you may have the answer to your question by now, I feel compelled to reply to your post.

The "Processing Fee" or "Administrative Fee" or "Additional Commission" (whatever they call it) is instituted by the brokers be it a corporate owned brokerage or a small "mom and pop" type company. To the very best of my knowledge, the agents in the Ocean Pines market have nothing to do with it. In most cases, the brokerage will not rescind this charge. That leaves the decision up to the agent. I almost always "eat" the fee since I know my company (and others) won't. I don't know of a single Realtor who likes the fee but many of my peers include it in their marketing, specifically with Buyers since the buyers don't pay commissions (traditionally in this market the Sellers do). This is a growing trend in MD and if you don't see it now you will in the future. Its just a matter of whether the Realtor you work with will consume that fee on your behalf.

I hope that helps.

Dave
0 votes Thank Flag Link Tue May 10, 2011
Thanks to both of you...this is what I thought
0 votes Thank Flag Link Thu Dec 2, 2010
Not at all. You can negotiate out of it.
Web Reference: http://www.321property.com
0 votes Thank Flag Link Thu Dec 2, 2010
Is this exclusive to Ocean City? Trying to determine if this is an area specfic charge, a real estate company charge etc....I am being told that all realtors in the area charge this fee. I live in Baltimore and have never heard of it. Want to get my facts straight before addressing this.
0 votes Thank Flag Link Thu Dec 2, 2010
Processing fees are considered by many as a"junk fee" and are not charged be all companies. Consider shopping around and/or negotiating this expense out of your transaction. Some consider this an amount that is in addition to the normal fee for professional services and excessive.
0 votes Thank Flag Link Thu Dec 2, 2010
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