Broker Transaction Fee Outside of Commission

20ag07

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11:43a, 12/5/24

So I get a CD today, and I know how to read these things.

Broker pops in a $400 "transaction fee", which is in addition to their commission fee.

Is this just a normal thing, where people who don't know what they're reading just pay?

Bill Robbins

Joined: Dec 9, 2002

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12:06p, 12/5/24

AG

Assuming you are the Seller, this transaction fee will be documented in your Listing Agreement. If it's not, call them out on it.

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20ag07

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In reply to Bill Robbins • 12:41p, 12/5/24

Buyer. It was. And I did.

Just asking if that's what we're doing now-trying to sneak things in and see who notices.

Red Pear Realty

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In reply to 20ag07 • 4:06p, 12/5/24

Sponsor

AG

WE aren't. But we are still rebating our buyers back half of the commission we are paid at closing. On a $400,000 home purchase that's usually about $6,000 you can use at closing to buy down your rate, cover closing costs, or even reduce the gross purchase price of the home. And we have Aggie agents in all major Texas markets.

Sponsor Message: We Split Commissions. Full Service Agents in Austin, Bryan-College Station, Dallas-Fort Worth, Houston and San Antonio. Red Pear Realty

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trip98

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12:04p, 12/7/24

AG

Gotta be in response to the recent legal ruling

Commissions likely hit so ust make up for it via "fees"

Wireless providers are starting to try to sneak "fees" in so they can advertise a lower cost for the service

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20ag07

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In reply to trip98 • 5:24p, 12/7/24

Quote:
Gotta be in response to the recent legal ruling

Commissions likely hit so ust make up for it via "fees"

It definitely wasn't a change for the new listings.

"Certain" brokers seem to have figured out that they can just insert fees. And 95%+ of buyers (and sellers) have no idea what they are looking at. As long as "cash to close" is in the range, people just sign.

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Rexter

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12:25a, 12/8/24

There's a long-time agent in B-CS that was doing this 20 years ago. The one that lets you use a moving truck.

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warreng

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10:48p, 12/8/24

This is a common thing allot of Brokers/Agents are doing these days. We do not do it. In my opinion it is a way to try and slip in a fee just to make a little extra. As an agent if you cant make your numbers work on the commission you are already charging you might need to rethink your business plan in my opinion.

It isnt new since the ruling though. Has been going on for a while now

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