I suspect that the agent doesn't feel confident that you will be pleased with their performance so they want some cash upfront.
If your agent insists, may be you can ask that they credit it to you at the time of closing. If you decide not to close the transaction with them, then that's a fee they get for their services.
If this was NOT disclosed when you signed with the agent then I would tell em to 'stick it'
What is crazy is how these fees show up on the HUD-1 Settlement Statement without any prior knowledge of the buyer or lender.
You most likely are not just going to look at one property or just go along with listed sales price without doing some research and comparisons.
Interview, ask questions, "Do you Charge? What are the Costs?" and compare. You are hiring services and they are selling them. SHOP!
It depends on agent business practice.
We do a flat fee listing $795 and $500 paid up front saves $1000's of dollars for seller at closing.
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It normal you would pay some time of commission and with some companies you may also pay
a paperwork or advertising coop fee or some other small fee.
If you provide us more details we can perhaps better answer your question.
EX: Four weeks after the home has been listed the seller wants a 30 minute infomercial on their home. In this extreme case, the service would fall way over the line of what the norms and expectations are for the market. The agent could in theory agree to pay for it as long as they were compensated the additional cost at settlement.
Muriel Levin, Realtor, Agent Immobilier en Californie
Your Friendly Help In the Real Estate Business
D.R.E. license # 0171 5051
Some agents have a business model that is more about them and protecting their bottom line. In their defense they have to put bread on the table too. We just choose to provide a superior experience and we don't have to worry about charging additional fees to protect our income.
If you would like to know more about FireBoss Realty, please feel free to check us out at any of the web sites below and if we can help you please give us a call.
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Some fees appear to augment the agents income.
Some fees appear because other sevice providers are involved.
Often a coordination fee appears when a third party is involved with co-ordinating interstate moves.
This fee may cover the service provded to co-ordinate activity when selling a home in NV and buying a home in FL.
Have a blessed day!
Ronda Allen, C.P.M.
Realtor, Life Coach, and Certified Purchasing Manager
CEO of comingsoonhome.com
RE/MAX Dallas Suburbs
Keith Dobbs Team