Do you ask for a retainer from a buyer client? Why not a seller client?

When are we going to stop doing all this work on the hopes of someday getting paid?

What other industry operates in this way? The only example is an attorney sueing for a big settlement. And most attorneys won't take you on (in this example) unless they figure they're got a good shot at winning....

Here's a link to a prior discussion from just a couple of weeks ago:

Charging a Retainer Fee

I think if you use the search feature to the right ----->

you'll uncover a few hundred posts on the Topic.

Retainers are or should be applicable with regard to the type and scope of the services required by a client.

Independent paralegal's require full payment of a flat fee in advance of preparing documents for a client.

Almost every professional requires payment for their knowledge, experience and time spent on behalf of a client and/or a customer.

(Try taking your car to a garage and asked them to check out your car as the engine is missing and ask them to do it for free.}

Seller's agents sometimes demand and receive funds from their sellers to cover the agent's traveling expenses in showing remote properties, lodges, fishing camps, etc. that are difficult to reach.

Buyer's agents sometimes request a non-refundable retainer in the event the buyer does not complete a purchase within a specified period, such as a six month period, but the same retainer will be credited to the buyer when they do complete a purchase pursuant to the terms of their agreement.

There are many types of retainers and "Retainer Agreements" both contingent and non-contingent, refundable and non-refundable and to be credited to the client or not, as well as Flat fee, billable hours, or capped billable hours, plus out-of-pocket expenses and prevailing taxes.

There is an interesting article titled "Is the Commission System Unfair" by Mollie Wasserman at the following link and she is the author of a couple of books,that may interest some readers.

http://realtytimes.com/rtinteractive/20000608_unfair.htm

Personally, I believe that if consumers wish to reduce their costs in buying and selling real estate and perhaps pay less money to agents for services rendered, then they should be willing to assume some of the financial burden and associated risks in doing so and copensate their agent accordingly.

IMPORTANT NOTICE: This information is provided as basic educational information by the author and is not a substitute for the advice of an expert and/or the advice of a Lawyer. There is NO representation as to legality, accuracy, correctness of the herein information and the reader is strongly urged to consult a lawyer in the relevant jurisdiction to ensure accuracy before acting on this information.

Working On A Retainer

Is apparently serving some people well as illustrated at the following link.


http://realtytimes.com/rtinteractive/20000928_retainer.htm