Stop!! Hold up! Do not pass go! Whoa Nelly!!!!
I do believe that I am a leading authority, in America, on this subject!!!!
Like all Mortgage Brokers and Loan Officers, over the years we've been victimized countless times by a certain real estate company with a C and B in their name!
ABOVE AND BEYOUND â€¦.. this one real estate company has been responsible for lost Mortgage Broker income thru their NON STOP, relentless coercion and steering tactics of our clients to their â€œPreferredâ€ in-house lender than any of the rest!!!
Mortgage Brokers have NOT forgotten what they did to us from 2000 to 2006!
It would give me MUCH pleasure to talk with you about your options in this situation!
Please call me any time, even now is okay for this situation and I'll tell you about options you had no idea were available to consumers!
----------------Axe to grind? -------------- Like you could not imagine!!
Pro Option Mortgage/ Florida
Ph: 888 662 4404
Prior Service U.S. Marine Corps
But if you did not sign any agreement with the CB agent (as you've said you didn't)... they they cannot compel you to pay that additional $350.00. And as others have pointed out, since the agent is already receiving a 4% commission... they should absorb the $350.00 fee.
If you are not all ready moved into your new home, I hope you will be enjoying your new home soon.
It would appear, that if you never agreed to pay $350.00 to Coldwell Banker, and you don't sign the document they're putting in front of you now... there's just now way they can compell you to pay it, since it was never agreed to prior to the purchase.
Since you have a buyer's agent... ask him/her to step in and clarify for you.
If you signed the paperwork, it will be difficult to prove that you were unaware even if the item was not directly pointed out to you at the time of signing.
As a New Home Specialist, the client can be registered with the New Home builder. Usually the builders require the agent to accompany the client at the time of registration. It is really helpful for the buyer to have a New Home Specialist asking questions on behalf of the buyer and acting like an ombudsman for the buyer with the Home Builder.
You can now relate how a New Home Specialist can help you with the volume of paperwork and questions / decisions regarding the new home. The agent can earn their commission by helping you facilitate the transaction.
As a buyer, you have the ability to give a thumbs up or down for the agent to represent you when buying a new home. Did the Coldwell Banker agent procure your awareness of the development and assist you in any way? Some agents really do earn their commission and can save new home buyers a lot of heartache and mistakes.
If you were just signed up and the agent did nothing to procure the sale, then you do not have to sign the document. Check with the agent's broker for further discussion.
Brock Realty Inc.
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But he is on target regarding the corporate practices of the company you mention.
These fees, along with many more, are imposed on the buyer and seller by the corp or broker...all for revenue augmentation. None provide value for the consumer. The agent, who chooses not to pass these fees on to their client must pay these fees themselves. Some brokers do not allow this option. The CB agent is often caught between a rock and a hard spot. But, it IS their choice to stay with that brokerage. I cringe at the thought of showing a home listed by this company.
Don't sign it.
Look the agent straight in the eye with a half smile and say, "I'm sure you will be DELIGHTED to pay this on my behalf."
And don't blink. The first one to speak loses.
SIDE NOTE: When a brokerage presents contracts on their letterhead, not state issued contracts, be alert. There is a reason for these customized contracts. You are about to meet a few more.
Congrats on find your home! You will love Tampa.
Best of success to you,
Annette Lawrence, Broker/Associate
Reamx Realtec Group
Palm Harbor, FL
This gets me all the time. If I found the deal I nothing out of pocket. If they found the deal well then good job here's your pay. Pretty simple. Real estate agent service was developed to protect buyers and sellers from each other. Sometimes the agent can turn like a mad dog. They live off commissions. See it probably cost you more to hire an attorney to review this. Look over your paper review the contract if one was signed. If no signature I let them know your not paying. If it was me I wouldn't.
I only a property manager and don't list property for sale often. So I could be out in left field. Try contacting a local real estate attorney for free council.
I saw your reply. Please give me a call at 813-352-6219. I will help. Please check out my profile and you will see I am a no pressure, helpful Agent. I do not have an ax to grind, nor do I have any reason to steer you wrong. I am sorry you are having this problem. It should have all been explained to you prior to even showing you a home.
You would need to talk with an Attorney I believe. Did you sign a buyers agreement with Coldwell Banker? Each Agent has a Broker they work for. I would certainly call them to discuss this situation. If you were never made aware of the additional fee then you need to talk to someone. If you signed the contract to purchase the home, and you agreed to allow the Agent to represent you then you will not be able to do much about them getting a commission. I would go talk to the Broker at Coldwell Banker.
Please feel free to email me directly at THoyt@prutropical.com if I can answer any other questions.
Prudential Tropical Realty
Best of Luck.