Asked by Tim Moncrief, Austin, TX • Tue Jul 15, 2008
A common practice in Europe most likely will be coming to the US this coming year: Upfront buyer agent fees to buyers looking for properties. Yes, a charge for buyers to see properties.
This has rarely been used in the US, but is very common in most European real estate firms. Usually the real estate company offers a free initial consultation and a reasonable fee to show homes/condos and the fee will be applied toward the purchase of the home, or in addition of the fee of the purchase of the home.
With gas prices rising, the reality of this occuring in the US is likely. Today, it is likely that a buyer's agent will incur $100 to $200 in fuel costs for one POTENTIAL buyer. This obviously excludes wear and tear and the time cost of the agent.
The thought of this was rarely if ever thought of in the past in the US, but will be a topic of consideration this coming year, and I strongly believe will be implimented by successful buyer's agents.
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