ASK YOUR AGENT ABOUT THEIR REAL ESTATE PROCESSING FEE before you make your decision on your buyers agent.
As a buyer, why would you pay a transaction fee to an agent who is already receiving a commission?
This is a great question and something that you should be asking your agent. These fees can be called “broker service fees”, “administrative fees”, “technology fees”, “transaction fees” and even “processing fees”. In the past O’Connor Realty charged a transaction fee of $100 (which is among the lowest in our market). The purpose of the fee was to offset the cost of administration, document handling and closing title preparation. In our local market we see this charge from $195 -$495 per transaction. Really, $495 to write and offer and act as your buyers agent? This amount is shocking to us and when the buyer’s agent is receiving a commission on the sale, why do they need to add this to the buyer’s costs? It’s shocking to see how much other companies are charging, isn’t your commission enough?
O’Connor Realty NO longer charges this processing fee, there are enough expenses within the transaction of buying or selling a home. O’Connor Realty believes in doing what is best for our clients, and saving them money is one example.
So next time you are thinking of buying a home, or if you are in the current market; ask your agent, “What is your transaction fee”?
Do you homework, you will be surprised. This will save you money, who doesn’t like to save money?