Hidden brokerage fees buyers and sellers should ask about
Some brokerages add a flat fee on top of the commission. It might be called a transaction fee, administration fee, compliance fee or broker fee. A few hundred dollars is common in the US.
Why it matters with a rebate
If your rebate is $3,000 and there is a $495 transaction fee charged to you, your real saving is $2,505. Not a deal breaker, but you should know.
Where to find it
In the buyer agreement or listing agreement, usually in the compensation section. If it is not written there, ask directly: "Are there any fees charged to me beyond the commission?"
Other fees that are not the brokerage's
Lender fees, title and escrow fees, inspection, appraisal, strata or HOA document fees. These are normal closing costs and are separate from your agent.
Our partners
We ask partner agents to disclose any fee charged to the client in their written agreement, so your net saving is clear from the start.