Comments on: Admin Fees, MSNBC & 515+ Comments.

By: Tina Merritt

Tina Merritt — Sat, 16 Aug 2008 23:00:00 +0000

I have hated that fee since it was implemented years ago. The answer I have never been able to get from the company is, “If I can negotiate a higher commission than the other agents, why do I still get penalized for not collecting an admin. fee?” Congrats on your wedding Frank!

By: Anonymous

Anonymous — Tue, 22 Jul 2008 16:13:00 +0000

I purchased a home with L&F back in March. They charged me that crazy admin fee. I noticed it before hand on the HUD-1. Since I signed to it, I paid for it.

I don't agree with it and voiced my concern with my agent, but of course she said it was for all the paperwork that's was involved.

By: ARDELL DellaLoggia

ARDELL DellaLoggia — Sun, 13 Jul 2008 13:42:00 +0000

“Go cut some overhead”…that is definitely the future of real estate.

I heard you were going to be at Inman…hope to meet you there.

By: Kim Harris-Broker/Owner/Sound Realty

Kim Harris-Broker/Owner/Sound Realty — Sun, 13 Jul 2008 13:42:00 +0000

Just like you Frank, never charged any extra fees and never will. All my agents work from home and very seldom even step into an office.

Just junk fees with another name…..

By: Anonymous

Anonymous — Sun, 13 Jul 2008 11:06:00 +0000

I work for a brokerage that charges an admin fee. Over the past few transactions I’ve been instructing the settlement agent to take the fee off the HUD, and I wait for the accountants in the sky to charge it against my account.

I, like many of you, have heard of different reasons for my brokerage charging the admin fee. You think I should know, but I don’t. Since I can’t get a straight answer from my own brokerage as to the reasons for the fee I tell my clients that they won’t be charged for it.

By: JCKC Realty

JCKC Realty — Sat, 12 Jul 2008 05:24:00 +0000

I don’t understand how you are charging the clients for the $300 fees? We don’t build the fees into our clients, it’s paid by the agents. Most agents aren’t even worth what an office has to pay to carry them. Here, most offices charge an admin fee monthly, not per deal and it’s paid by the agents. Ranges from $100-$250/month not per deal in our coverage area.

I think if an agent doesn’t like having to pay a fee or split their commission, they should go get their own broker’s license and work for themselves and see just how easy it is. Most won’t take the chance so why get upset when you pay someone else for taking it for you?

By: FRANK LL0SA Va Broker- BLOG.FranklyRealty.com

FRANK LL0SA Va Broker- BLOG.FranklyRealty.com — Sat, 12 Jul 2008 05:24:00 +0000

Hey JCKC

I guess I misunderstood you sorry. I guess they call it different names here in VA. The admin fees are fees charged to the clients by the brokerage, and the agents get charged a desk fee, or monthly flat fee, or commission split.

I don't charge admin fees to clients.

Frank

By: Joe Virnig, "No Ordinary Joe" (RE/MAX Gold Coast REALTORS, Ventura County, California)

Sat, 12 Jul 2008 05:05:00 +0000

Admin fees suck. I never charged them and now I end up paying them since the brokerage I work for instituted them.

By: FRANK LL0SA Va Broker- BLOG.FranklyRealty.com

FRANK LL0SA Va Broker- BLOG.FranklyRealty.com — Sat, 12 Jul 2008 05:04:00 +0000

JCKC, Please help me understand what you are saying. Are you a broker or an agent? Sure we all got overhead of some sort, and I made fun of brick and mortar companies.

But tell me why the client, after paying $10,000 and up to $5,000 goes to the brokerage, why they need to charge a $300 admin fee?

By: JCKC Realty

JCKC Realty — Sat, 12 Jul 2008 05:00:00 +0000

Well it is amazing that a lot of people think they can work out of a hole in the wall or their car to represet their professional image. Yes, the world of real estate is web based in a lot of ways, but we are still in the business of working with people and customer service/sales. I’d rather not be looked at like a tacky used car salesman and have a nice environment to bring my clients to for meetings and to go over paperwork or listings. Depending on what you get, there is nothing wrong with office fees, especially when everyone wants the highest split possible these days or they will just work for whoever. We wonder why real estate agents have a bad name?