If you are not 100% clear on the fees being charged, you MUST have a face to face with your relator and ask for clarity.
All fees need to be in writing, clear, and agreed to by both parties.
I am sure your realtor values you and your business, and he/she will clear this up for you.
Best of luck to you!
Kawain Payne, Realtor
PROFESSIONAL FEE? So that's what realtors are now calling it?
5% commission on a 500k home is $25,000 ....and then PLUS an extra $295 Professional Fee too?
Any one up to a real estate commission discussion to enlighten me, a FLORIDA MOTGAGE BROKER, as to exactly what a Professional Fee entails?
Some one, anyone? http://www.youtube.com/watch?v=f4zyjLyBp64 anyone?
Thanks in advance and make it a great day
954 821 9569
actual listing agreement, because there are many terms and stipulations, and each and every listing agreement could be slightly different....
I personally do not understand exactly what you are saying above
Are you saying that the total commission due at the closing table for all commissions is 5 % on the
sale price, ok and it adds what at closing another 295 $ ..... I am not sure, but it must say at one point
in your agreement that the 5 % agreed upon commission based on the final sale price is due by the seller at the closing table, normal, if there is another amount of 295 $ added in the listing agreement
read the agreement carefully as it will say what this amount is for....
But I am not sure I did get your information exactly right, the above is what I am familiar with and seems
that it could be that, you can always sit down with your listing agent, and ASK for an explanation,
usually a good idea to do that before signing, so that you do understand exactly what it is that you
are signing and not reading it after you signed.... Ask your agent first for an explanation and see
if you understand it right and if you do agree with it....
Edith YourRealtor4Life & Chicago and Northern Illinois Expert
Working always in the very BEST interest of her clients, Buyers, Sellers and Investors alike....
And always with a SMILE ïŠ
Covering for @Properties the city of Chicago, all N and NW suburbs, the fine homes on the
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HAVE THE MOST WONDERFUL DAY :)
Personally, I'd say it depends on the sales/list price.
If its borderline low priced, almost not worth a realtor's time to list and help sell, then yes, the $295 is in line.
However, if its over 150k, then I'd demand it be removed.
Transaction fees also vary from brokerage to brokerage. Today, $295 is a relatively low transaction fee; a number of brokers ask for up to $495 or more.
Marc Jablon, the Jablon Team
Re/Max Complete Solutions
They may have a $295 transaction fee the broker charges. However I'm not sure what you mean by adding 5% at closing. We only get paid at closing so that charge isn't added on, it is deducted from your proceeds.