I purch a home in SC, 3 weeks before closing, Realtor told me, sign the Buyer Agency. it says that if comp by the listing seller is < 3% I pay bal.

Asked by S, Edison, NJ Wed Jul 10, 2013

I pay an admin fee of $260. It's SC law. Is this true?

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Fred Herman’s answer
Fred Herman, Agent, Staten Island, NY
Wed Jul 10, 2013
dose not seem right. Agency should be agreed prior not post.

call broker, if not satisfied -
call local board, if not satisfied with verbal explanation -
file formal complaint -
cc to state licensing agency.

hiring an attorney is also an option.
0 votes
Laura Gianno…, Agent, Manahawkin, NJ
Thu Jul 11, 2013
This is a question best answered by a South Carolina agent. Try posting this question there.
0 votes
Jeanne Feeni…, Agent, Basking Ridge, NJ
Wed Jul 10, 2013
Can't comment on an admin fee being a SC stat law - ask for written verification from the agent on that.

As for having additional commission brought up after the deal is struck, that does not seem right to me. I would be inclined to push back on that if you were not asked to sign something earlier that made this clear. Remember that a relationship is at the broker level so if you need to speak to the broker/manager to get clarity, do so. And do not sign anything until you understand what you are signing and are comfortable with it.

....just my opinion....

Best,
Jeanne Feenick
Unwavering Commitment to Service, Unsurpassed Results
0 votes
Jeanne Feeni…, Agent, Basking Ridge, NJ
Wed Jul 10, 2013
Not sure about the admin fee as being a state law - I'd ask for verification of that. As for springing the language of you paying a shortfall in commission if less than a certain amount after the deal is struck, that does not seem right to me.

A relationship is at the broker level - if you are unclear or uncomfortable with what is being said and put before you to sign, ask for clarification and if necessary speak to the broker BEFORE you sign.

Good luck to you,
Jeanne Feenick
Unwavering Commitment to Service, Unsurpassed Results
0 votes
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