$500 Realtor Storage Fees Las Vegas

[Account Closed]

I have recently started making some offers in Las Vegas and notice that the brokers charge a $500 storage fee for documents When i asked the agent she says it is common and has heard of fees over $800 Is this common practice  in Vegas or around the country ?

[Wayne Brooks]

To be more clear, it is a fee that Is collected by the broker, from the agent if the agent can't get the client to pay it.  It actually has more to do with the current, prevelant business model of the industry.  There is pressure is most brokerages by agents wanting to receive 90% splits on commissions.  A large part of most brokerages income theses days is from these "transaction fees", as opposed to the traditional commission split percentages.