There are some things that working in this industry for over 11 years that I just shake my head at in disgust. One of the top things that drive me crazy is when other agents and brokers take advantage of buyers and sellers.
I sold a house last night for my home owner and when I read the purchase agreement, it stated that the purchaser (not my client) is responsible for paying a $595 fee to the buyers agent at closing! I guess the 3% commission the buyers agent will be getting is just not enough and they had to go after this home buyer and gouge them using this fee. I can’t tell you how many agents and brokers in this industry charge a “Transaction Fee” or “File Retention Fee” in addition to the commission they are receiving in the real estate transaction.
The reason I am writing this is I have never believed in charging a consumer a fee at the time of closing in addition to the standard commission. I hope that if your reading this and looking to buy or sell a home in Metro Detroit that you would allow me to at least have a consultation with you to see if I can help achieve your real estate goals, but if you decide to work with another agent, please make sure you do not get suckered into having to pay this fee. Insist on the agent or broker waiving this fee.