djg0101, Other/Just Looking in 48316

Do most Real Estate Offices charge a buyer document fees? Keller Williams in Shelby Township charges a buyer $250.00 for document fees.

Asked by djg0101, 48316 Thu Jul 19, 2012

Help the community by answering this question:

Answers

7
BEST ANSWER
And I thought only lenders charged junk fees...
1 vote Thank Flag Link Thu Jul 19, 2012
It has become more common for brokerages to charge some sort of document handling or storage fee. Typically when one broker in a city assesses the charge, all the other brokers follow suit. While it's not a universally accepted practice (or even law) it's becoming a common practice as broker profits have dropped with the drop in home values.

And just an FYI your real estate agent doesn't share in the fee. It all goes to their broker. If you opt to not pay the fee it comes out of your agents pocket.
1 vote Thank Flag Link Thu Jul 19, 2012
Dig0101,

Yes it is a common practice. I'm with Keller Williams as well & my office charges $195.
In the golden days of real estate there was enough commision to cover those costs. With houses selling so low, & commisions being split usually 4 ways, it's hard to pay the office staff & software to store all the documents.
1 vote Thank Flag Link Thu Jul 19, 2012
Real estate brokerages are not allowed to discuss fees or commissions in the terms of what is fair or customary because of antitrust laws. All commissions and fees are negotiable and every brokerage can set its own terms of service.
1 vote Thank Flag Link Thu Jul 19, 2012
anyone that hide behind so called "laws" is not open and can not be trusted.
Flag Sat Jul 21, 2012
Maureen Fran…, Real Estate Pro in Birmingham, MI
MVP'08
Contact
$250 fee for Tampa,
July 2015, I just started the paper work to purchase a home. I don't believe in this type to fees as the fee should be included in the price of the seller commission. Their is NO reason to charge any fees once it it turned over to a Title Broker, they are responsible for the sale and title of the home. Anyone business that charges these fee are just passing along all cost of the business expense to the customer.
0 votes Thank Flag Link Thu Jul 16, 2015
Yes, it is a common practice and fees differ between offices and brokerages. This fee is to store all paperwork and details of all transaction on media so that if there are issues in the future, all documents from your transaction can be accessed. Before, offices had to keep these piles of paper for all transactions and sometimes pay to store them in off-site facilities. This also became a fire hazard.

Kathy Persha, Realtor
Keller Williams Realty
248-930-0198
0 votes Thank Flag Link Thu Jul 19, 2012
Yes, it s common practice. Some offices charge more. $250 is fair. Every buyer or seller pays it.

Thanks
Pam
0 votes Thank Flag Link Thu Jul 19, 2012
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2016 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer