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By David deForrest
General Manager
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We are planning on moving to the Miami area very soon with my husband's job. The home we are buying here was straight from the owner. NO agents involved. I have no Idea how this works so can you please explain? If we are looking for a home to buy that's on the market and the seller has agreed to sell through a Realtor and give that Realtor a commission for the selling of the home why should we give the Realtor a commission also? I know some Realtors do this. They double their money by getting commission from both the seller and the buyer! Is that legal? And do all Realtors do that?

At least in this area, real estate commissions are usually paid by the Seller of a property. A buyer would not normally expect to be charged a broker's fee for participation in a transaction. We certainly never have had occasion to do this. This might occur, I suppose, if you wanted a us to negotiate and contract for the purchase of some property not listed and where the Seller adamantly refused to accept an offer through a broker that would result in a commission due. But a case like that would have to be arranged in advance between the Buyer and the Broker, it wouldn't fall on you like some kind of evil surprise.
There would be nothing illegal in a Broker being paid for services by both Buyer and Seller as long as the arrangement was open and disclosed to both parties, but it is not done around here at least. They must have some mighty greedy Realtors where you come from or, more likely, there is some misunderstanding on your part about what goes on back home. If not, tell me where you're from so I can open a branch (joke).
Anyway, feel free to get the benefit of having an agent assist you with your purchase, you won't end up paying double in my shop (or any other I have run across in Miami for that matter).
There are a large and growing number of Brokers who collect nuisance fees from Buyers (often called transaction fees, administrative fees etc.) This has become very common although I personally consider this an abuse. Why? One, because we have already been paid for the work we do in the form of the fee charged back to Seller or to his agent if listing is with another firm and secondly, because Buyers are never really informed about this when they view property with these agents. Anyway, this will not happen to you at Buy the Beach Realty either.




Unless otherwise stated square footage and lot dimensions appearing herein are derived from county records and may or may not be accurate.
If square footage is material to a transaction a survey or other measurement is recommended. This information deemed reliable but not guaranteed. Current or previous year’s taxes may not accurately forecast future property taxes. Property taxes can increase from one year to the next for various reasons.

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