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Redfin Real Estate Forums :
Washington DC/Baltimore :
Re: Watch out for Administrative Fees resurfacing in Agency contracts
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Watch out for Administrative Fees resurfacing in Agency contracts
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Venturion
Super Contributor
Posts: 1283
Registered: 12-28-2007
Message 1 of 6
Viewed 1,479 times
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I am working on a FSBO as the owner. A large local brokerage sent me its FSBO Commission Agreement. Aside from the procurement language being a crock (the buyer found me via Zillow and told his agent about it), the brokerage is now trying to pass off a $345 administrative B.S. fee onto me (the owner). There is also language saying there is no Broker representing Owner. I don't see how that's germain to the showing. If I decide to hire an agent prior to closing, that is none of the buyer's broker's business and doesn't impact the 3% I have agreed to pay him/her. Please help me understand if I am missing something.
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03-31-2009 09:47 AM
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Re: Watch out for Administrative Fees resurfacing in Agency contracts
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FranklyRealty
Regular Contributor
Posts: 197
Registered: 02-26-2008
Message 2 of 6
Viewed 1,357 times
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Nope. It is a crock. People don't read contracts! **bleep** you! You are ruining everything! Frank Broker FranklyRealty.com
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03-31-2009 08:53 PM
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Re: Watch out for Administrative Fees resurfacing in Agency contracts
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I-AgentRealty
Contributor
Posts: 32
Registered: 03-20-2009
Message 4 of 6
Viewed 1,260 times
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Admin fees have not gone anywhere, they are alive and well! I never charge them but I often see them on the other side of the HUD-1. I am curious, what was your reaction/their reaction?
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04-01-2009 07:50 PM
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Re: Watch out for Administrative Fees resurfacing in Agency contracts
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MarshallPark
Redfin Lead Agent
Posts: 12
Registered: 08-04-2008
Message 5 of 6
Viewed 1,249 times
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Hey Venturion, Remember that all contracts/agreements are amendable. If they want to work with you, they can agree to any changes you input to the contract/agreement. Although, we must look at the big picture and if the selling brokerage's buyer is going to purchase the property at a mutually agreed and reasonable price, this could be a nominal fee to sacrifice. I know that is not the point of your frustration and I do understand why you are, just throwing in my two cents. Good luck on the sale! I'll think you'll do just fine. Thanks, Marshall
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04-02-2009 05:26 AM
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Re: Watch out for Administrative Fees resurfacing in Agency contracts
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Venturion
Super Contributor
Posts: 1283
Registered: 12-28-2007
Message 6 of 6
Viewed 1,231 times
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Thanks, Marsall - its a good reminder to not lose sight of the forest through the trees. $345 is small price to pay if it leads to an offer let alone contract ratification. i-A - this agent is extremely poor in my opinion for several reasons that I won't mention now. I just told him I had to cancel the showing due to a conflict and he hasn't even bothered asking to reschedule. I'm not going to waste my time complaining to him. I left a message for the buyer and will deal directly with him.
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04-02-2009 07:52 AM
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