Attention SLC.Watch the Real Estate Fine Print !!
I came across this article on MSN this morning that encourages all of you Real Estate buyers and sellers to watch the fine print in the contracts with your Salt Lake Realtor. Well not just your SLC Realtor, but any agent that works for a brokerage that tacks on fees, that in years past were considered a "cost of doing business".
Frank Llosa who exposes what he calls Real Estate Agent tricks on his blog, comments on fees charged by various brokers to offset the cost of providing acceptable service ( my interpretation of what he said) I don't always agree with Frank, but I do on the concept of an Agent protecting the client from unneccessary fees, rather than piling them on.
Actually part of what he said was
But a disturbing trend that has emerged recently threatens this tidy arrangement. Some buyers' agents are now slipping junk fees into their contracts. Usually labeled "administrative fees," they range from $195 to $500. While their legality is in dispute, they have become commonplace. Virginia real estate broker Frank Llosa, who exposes real estate agent tricks on his blog "FranklyRealty," says perhaps 40 percent of buyer contracts now have administrative fees tucked inside.
In Salt Lake, that 40% number is probably about right inasmuch as charging the client an administration fee is company policy in 2 of the 3 largest franchise brokerages in the valley.
Probably just a case of where the 800 lb gorilla sleeps ( any where he wants to). Those companies charge those fees because they can.
It reminds me of the negative feelings I have when buying a new car and get whacked 3 or $400 dollars in prep charges. Shouldn't they prepare the car before they sell it to me.? And isn't that the cost of doing business?
Take the time to read the comments to Franks blog, and see what the general public (our Customers ) think .
I guess I should get to the bottom line here. Which is.
If your buying or selling a home in Salt Lake, and don't think you want to pay extra fees., Visit our web site, @Salt Lake Real Estate and see if we could do something for each other.
If you just want to look at Salt Lake homes for sale, click on Salt Lake Homes and you will have access to thousands of SLC houses..
You never have to watch the Real Estate fine print.