I heard a rumor that Transaction fees will soon be ileagal. Any one else heard this? I don't belive it, but wondering if it's affecting anyone.

My new brokerage charges a transaction fee. I've had a couple of occassions where the lender says no way this is included on the HUD. They are legal here, as sometimes they fly. It would make my job easier if they were illegal!

Your real estate brokerage is charging transaction fees? How much are they?

-Peter

There was some discussion about this several years ago here in New York. As I recall, though they were not made illegal across the board, there was a requirement that some "value added" be identified as a result of the charge. Still very much a grey area!

My brokerage charges 195.00. That is actually low around here. Ive seen other brokerages charge 249.00,299.00,349.00. I can't even get an answer on what the "transaction fee" covers.

My previous brokerage never charged one and. I promised my clients that the change of brokerages would be seamless to them so I was taken aback when the transaction fee came up. It was almost a deal killer, so the fee is waived for my investor clients. If there is an issue or complaint about the fee, I am also able to waive the fee.

It sounds like one of those deals if the Title Co, Mortgage Lenders can charge transaction fees, why can we as Brokers do the same. JUst sounds greedy to me.