Jim Striegel

Below is a portion of advisory letter from TREC that was in response to my complaint… be careful here!
Finally, we have reviewed the buyer’s representation agreement and we found the broker has included additional fees of $ 795 for document file fee and $ 395 for contract to close fee. We note that document retention and closing of the transaction are matters for which the license holder is already being compensated through the payment of the commission. If said fees are a payment for matters to which the license holder is not already obligated to perform, then the broker should provide a better description and explanation to the client about said fees. We note that Pursuant to Section 531.1(1) that the primary duty of the real estate agent is to represent the interests of the agent’s client, and the agent’s positon should be clear to all parties concerned in a real estate transaction.