So I am a first time buyer and we called up realtor my sister used and I have been looking over the contract. I looks like I have a 3% buyer obligation and $499 administration fee to Real at the time of closing. Would you say this is common and a fair deal? I would love your thoughts on this.
Colorado Realtor 3% and $499 admin fee
byu/Kavex inRealEstate
Posted by Kavex
6 Comments
Shop around. You can find a good buyers agent for 2% and no fee.
Oh, no thank you.
The admin fee is paying their assistant to do the things they’re supposed to do for you. Title reports, coordinating inspection activities, etc. I would phrase it like this: “I would like to decline the $499 admin fee. If you need help with things, let me know and I will help handle some of the transaction items.”
Or ask how the $499 admin fee benefits you specifically, rather than your realtor.
You can shop around. Our agent charged us 2.25.
Move on.
Definitely don’t pay the admin fee
Negotiate that. Drop the fee and ask her to do 2%