Is coordinator's fee being charged by a buyer's broker legal?

Elinar
Home Buyer
Coral Springs, FL

When we are rushing to make an offer to a house we liked, I signed a contract with a clause with payable $495.00 on closing as coordinator's fee which was not properly explained by my realtor, Is there anyway I should not pay this unjust fee by the broker? I felt being deceived!

Answers (3)
Matthew A. Bart...
Agent
Glendora, CA

Hi Elinar,

Contact your agents broker and inform them of your displeasure with regards to the coordinators fee. Let them know that this was not addressed with you before signing the contract. While the fee is legal, your agent should have pointed this out and asked if you had any questions regarding the fee prior to signing the forms. I would be surprised if your broker refuses to correct the charge. Best of luck.

Matt

Fri May 1 2009, 15:24
Mott Kornicki
Broker
Miami, FL

Elinar~

The "coordinator's fee" or processing fee as it may also be called is legal. I agree that the added fees for coordinating/processing seem unfair. In the current and evolving real estate brokerage arrangements, it is commonplace that the listing/selling office has a very small split the bulk of the commission is paid out to the listing and selling agent. These fees help offset the employees that are working on a salary for the respective office.

Ask that the fee be waived, as it was not properly explained to you and that you do not agree to it being charged. Often it will be waived of the agent will pick up the charge.

Fri May 1 2009, 15:14
Kathleen Lordbo...
Agent
Brainerd, MN
FIRST ANSWER

Elinar - administration fees are commonplace here and legal as they are listed in the contract - as was this one apparently. The rushing part is perhaps the problem - did you not read what you were signing? You can always go have a chat with the persons involved but unless it was hidden from you......................

Fri May 1 2009, 09:34

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