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(imóveis em miami) Ask a real estate pro: Is agent’s transaction fee legitimate?

(imóveis em miami)

By Paul OwersSeptember 14, 2012 06:40 AM

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Board-certified real estate attorney Gary M. Singer answers housing questions in this space each Friday. To ask him a question about short sales, mortgages, refinancing, homeowner’s associations or any other residential real estate topic, click here.

(imóveis em miami) Q: I want to know if the “transaction fee” being charged by my real estate agent is a legitimate cost. I have spoken with three different agents, and they all insist on charging me this fee in addition to a 6 percent commission. Do I have to pay it? – Richard

A: Real estate agents can charge any reasonable fee for their services, whether it is 4 percent, 6 percent, 9 percent or a flat fee. While 6 percent is normal for most residential transactions, there is nothing stopping an agent from charging a different amount if you agree to pay it.

The same logic also applies to the transaction fee, which is also called a “compliance,” “administrative” or “processing” fee. Most of the time, the extra charge (about $500 or so) is just more commission, rather than a fee for additional work.

If you agree to pay it, fine. But you can object and have the agent remove the fee from the closing documents if it wasn’t previously agreed to.

Most experts insist that the additional fee can be charged as long as it is fully disclosed in a way that is not misleading and is reasonably priced for the actual services performed.

While the law does not protect you from negotiating a bad deal for yourself, it does protect you from being misled into making that bad deal. The real key is that when you hire a Realtor, or any other service provider, the work being performed and what you pay for it is negotiable.

(imóveis em miami) The information and materials on this blog are provided for general informational purposes only and are not intended to be legal advice. No attorney-client relationship is formed, nor should any such relationship be implied. Nothing on this blog is intended to substitute for the advice of an attorney, especially an attorney licensed in your jurisdiction.

To follow Gary Singer on Twitter, click here.

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About jennyformiamihome

성심껏 도와드리겠습니다. 연락주시면 바로 상세히 답변드립니다. Jenny Shin / 신정미 부동산 (Broker's Real Estate) 남부 플로리다 마이애미 지역 한인 부동산 주택매매 렌트 싱글하우스 타운하우스 콘도 브라워드 카운티 마이애미 데이드 카운티 포트로더데일 웨스턴 코랄스프링 도랄 Rent or Buy single house, town house and Condo Miami Dade County / Broward County, fort lauderdale, coral springs, copper city, weston, doral 1398 SW 160TH AVE. SUITE 105 Weston, FL. 33326 Direct : 954-551-0236 Office : 954-384-1616 Fax : 954-697-0447 E-mail : jenny_shin62@hotmail.com

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JENNY SHIN PROFILE


Jenny Shin / 신정미 부동산
(Broker's Real Estate)
1398 SW 160TH AVE. SUITE 105
Weston FL 33326
Direct : 954-551-0236
Office : 954-384-1616
Fax : 954-697-0447
E-mail : jenny_shin62@hotmail.com

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