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re: Buyer paying the Buyer Agent a fee
Posted on 10/6/16 at 5:51 pm to lsu711
Posted on 10/6/16 at 5:51 pm to lsu711
quote:
I asked the agent and she said that the Seller's agent has agreed to pay them a commission. I assume that means a full 3%.
This is on the exclusive buyers agreement. This is my first time reading it. I haven't signed it yet because of that term.
I would tell her that you see no reason to pay any fee over and above the commission as provided by the sellers. The listing broker's agreement determines the commission. Tell her to redact the language or you will find another agent.
ETA: I have not seen this "transaction fee" ever listed on an exlusive buyer's agreement. The only possible explanation I can think of would be to benefit the amount of commission charged by the selling broker to your agent. In other words... bogus.
This post was edited on 10/6/16 at 5:56 pm
1
Posted on 10/6/16 at 6:11 pm to BigAppleTiger
Thanks for the feedback. That's what I thought, but wasn't sure if this was common nowadays.
The agent told me that term is in most of their agreements and that it "basically helps us pay for our staff." That set off the alarms.
The agent told me that term is in most of their agreements and that it "basically helps us pay for our staff." That set off the alarms.
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