A real estate agent showed us a property we were interested? This was the first property we were interested in making a cash offer but found out an offer was accepted and a backup offer was mentioned to us. She then tells us their agency charges a one time administrative fee of $595? Is this legit?
The buyer should not being paying any fees to the broker. That is the sellers responsibility. Did you sign a buyers agreement with the agent if so, review what you signed? Find a new agent.
Thanks Kenneth. I thought it was a little odd. I did not sign a buyers agreement. We are heading in search of another agent.
@Ricardo Rodriguez It is probably legit, though it should be disclosed up front - before you even go out to see properties.
I don't charge those fees, but it's likely that the agency does. Most often it's paid by the agent, but I have heard of cases where the agent passes that cost through to the buyer.
If you think that the agent is worth the investment, proceed ahead. Otherwise, find another agent.
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