Licensed Agents/Brokers: What Do You Charge for a Limited-Service Purchase Agreement?

Question

I have a situation where an owner and current tenant have already worked out the basic terms of a sale and mainly need the purchase agreement prepared properly.

For those of you who offer limited-service or transaction-only help, what do you typically charge for preparing the agreement and handling the paperwork?

I’m not talking about full representation or a traditional commission — more of a flat-fee or limited-service situation.

I know the rules and compensation structure can vary by state and brokerage, so I’m mainly curious how other licensed agents and brokers handle it and what kind of fee range you see in your market.

Ryan Brown · Answer

Leon, I'm an agent too, and I'd still point them to a title company that has an actual attorney on staff, not just a closer and a notary. Let the attorney handle it start to finish.

The buyer and seller already have a deal, so there's not much left for an agent to do. The hard part is getting the contract right, plus the tenant pieces like the security deposit, prorated rent, and what happens to the lease at closing. A title attorney can draft that, and the title company is going to be doing the title work and closing anyway. A lot of them will do the whole thing for a flat fee.

If you take it on, your license and your broker are on the hook for a contract you didn't negotiate, and you're getting paid a fraction of a normal commission. I'd make the introduction, stay on good terms with both of them, and they'll remember you when they buy or sell next.

Leon Timmon Sr. · Answer

Appreciate all of the feedback. You all brought up some good points, especially defining the scope of the service and making sure the brokerage structure is handled correctly.

Since the buyer is also the current tenant, I agree that the existing lease, security deposit, and any other outstanding items need to be clearly addressed as part of the transaction.

I’m going to confirm the structure with my broker and title company before I quote the fee, if I decide to take this on. That’ll give me a better idea of exactly what I’m taking responsibility for beyond simply preparing the purchase agreement.

Matthew Morrow · Answer

@Leon Timmon Sr. a lot of it comes down to brokerage policy. Some have a set fee for transaction-only work and some won't do limited service at all, so I'd start with your broker. Even with terms agreed, the agent still owns the paperwork, disclosures, and deadlines, so I'd price it on that responsibility, not just the time to fill out forms. Rules vary by state too. Good luck with the deal.

Diana Khan · Answer

@Leon Timmon Sr., I'd say the fee should depend on how much work is actually involved, even if the buyer and seller have already agreed on the basic terms. For a limited service transaction, I'd make sure the fee and responsibilities are clearly explained upfront. Since the buyer is also the current tenant, I'd pay particular attention to how the existing lease, security deposit, and any outstanding rent will be handled at closing.

I'm a real estate attorney and broker based in Maryland, and I work with clients on purchase agreements, contracts, and real estate transactions. I've seen how important it is to address those smaller details before signing, even when both parties are already comfortable with the deal.

I appreciate you bringing this up, @Leon Timmon Sr.. It's a good discussion because a simple transaction can still have important legal details.

Ametria Chaney · Answer

Leon, this varies a lot by market, but the structure you're describing — parties already agreed, just need the paperwork and file handled — is exactly what limited-service or transaction-coordination offerings are for. In many markets agents charge a flat fee for document prep plus coordination through closing, often well under a full commission. Two cautions: make sure whoever prepares the agreement is actually licensed to do it in Michigan (document prep crosses into legal-practice lines in some states), and have a title company or real estate attorney review before anyone signs. Get the fee, the scope, and who's handling inspections, title, and closing in writing upfront. Have you talked to a Michigan title company about their side of the process yet?

Licensed Agents/Brokers: What Do You Charge for a Limited-Service Purchase Agreement?

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