Home Buying in Boca Raton>Question Details

Steve Quinn, Home Buyer in Princeton Junction, NJ

When purchasing a HOME please do not use a realtor that charges a fee, there is no need to pay this Brokers makes good money on commissions?

Asked by Steve Quinn, Princeton Junction, NJ Wed Oct 30, 2013

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Antonio has it correct at usual.
1 vote Thank Flag Link Wed Oct 30, 2013
Steve, your statement reveals how little you know about the existing real estate market place. Those agreeing with your are revealing the same.
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The house the buyers chooses determines the compensation that will be received.
A homeonwer CAN contract to have the home appear in the MLS with compensation to the buyer agent to be ONE WHOLE DOLLAR. ($1)
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A buyer may find a house on 'ripoff.com' and have their agent present an offer where ALL PROFESSIONAL FEES (buyer and seller) are deferred to the BUYER!
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There are many others configurations for home sales that DO NOT PASSIVELY provde for the buyers agent to be conpensated. I recently visited a FSBO offering 1/2 of one percent to the agent for the buyer.
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Now Steve, you may think $1 is adequate compensation for your agent. Please contact one of those agents who agreee with your and hold them to their commitment.
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We aware, we have not discussed at this fime the FULL COMPENSATION an agent will receive after spending 60 hours finding that $30,000 delapidated condo you eventually purchased.
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Again, IT IS THE PROPERTY THE BUYER SELECTS THAT DETERMINES THE CONPENSATION.
Your statement is incorrect!

Best of success,
Annette Lawrence, Broker/Associate
Remax Realtec Group
Palm Harbor, FL
727.420.4041
Move to the FRONT OF THE LINE (http://FirstLookHomes.us)
0 votes Thank Flag Link Thu Oct 31, 2013
Not all agents even charge an upfront fee and some no fee at all over and above the fee they are paid from the listing broker at time of sale. Shop around and chose a local and full time agents who will work for you and meet your expectations.
0 votes Thank Flag Link Thu Oct 31, 2013
Warren & Susan Tessler of A&B Realty do NOT charge any additional fees.
They provide full professional service with marketing to get your home sold , and sellers pay less commissions with their reduced fees program (5% 4% 2%). They never charge extra for processing fees, transaction fees, marketing expenses, etc.
In addition, there are zero fees for buyers - buyers are not charged any transaction or processing fees, ever.
Call Warren & Susan Tessler, Real Estate Specialists in South Florida, for all your buying and selling and renting needs.
561-487-1844
wstessler@aol.com
0 votes Thank Flag Link Thu Oct 31, 2013
Hi Steve,

You seem to be more interested in what we make then asking pertinent questions about how to find a good Realtor in Florida or better yet a good home. I'd focus on that and forget about how we get paid by the seller.
0 votes Thank Flag Link Wed Oct 30, 2013
Of course you would
Flag Thu Oct 31, 2013
Is it a fee or a retainer? A fee is a charge for a specific service. A retainer is an upfront payment for anticipated services or expenses. Most realtors will charge a retainer fee to list a home if there are a lot of upfront costs associated with listing a house based on the marketing plan chosen. I charge a retainer fee for my most expensive plans because there are costs with staging services, binding brochures and professional photography. The retainer is counted toward the commission when the house sells but if the listing is withdrawn from the market it is retained to offset the expenses incurred. Keep in mind, the retainer fee is negotiable as is the commission amount. I do not think this is a valid question since it really is a statement. Good luck
0 votes Thank Flag Link Wed Oct 30, 2013
Keep in mind it depends on the price of the home. If the purchase is 600,000, you're right, a significant fee is being paid, even with the Broker splits. But what if we are talking about a 60,000 purchase? There just isn't enough meat on the bone for the agent to absorb your broker fee and a broker split. Remember your agent works for free until a contract is finally closed. You can always try to negotiate if you think there is a good fee coming out of your sale, and see if your agent will pay it for you.
0 votes Thank Flag Link Wed Oct 30, 2013
Agree 100%. Bad thing is Brokers stick the fee to the agents when clients don't pay. Some brokers really nickel and dime their agents.
0 votes Thank Flag Link Wed Oct 30, 2013
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