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Fees. Who pays for what? 1. Three Per Cent (3%) Fee -- BUYER'S BROKER-KEY WEST fee of 3% is the same as the co-op commission offered on most residential properties listed for sale with a real estate firm. Here's how it works: the listing broker receives a commission from the seller and agrees to share that commission with the Buyer Broker who sells the property. Most often this commission is 6% of the sales price, and one-half, or 3%, is offered to the Buyer Broker. This is called a co-op fee, or co-op commission. Usually that co-op fee completely offsets the Home Buyer's obligation to the Buyer Broker. Ninety-nine percent of all transactions are handled through the co-op commission. To date, only a few clients who have chosen this option have had to write a check for out-of-pocket costs. 2. A Fee of Two Percent (2%) of the Purchase Price with a One Percent (1%) Retainer Fee. -- This option is available only to purchasers who have identified a property (Subject Property) they wish to purchase prior to entering into an agreement with Buyer’s Broker-Key West. Purchaser shall pay Buyer’s Broker-Key West non-refundable retainer fee upon execution of this agreement in the amount equal to One Percent of the listed sales price of the Subject Property. The retainer fee shall be credited to purchaser at settlement. Should purchaser proceed with purchase of any property other than the Subject Property during term of this agreement the payment shall be Three Percent (3%) of the purchase price and the retainer fee will be credited to the purchaser at settlement. BONUSES: Sometimes a Seller will offer a bonus to the broker who brings in a Buyer. BUYER'S BROKER-KEY WEST will collect a bonus on behalf of the Buyer, and the sum is credited to the Buyer at Settlement. We do not accept bonuses on our own behalf. THE BUYER'S BROKER-KEY WEST requires NO Up-front, Processing or Transaction fees! Back to main page for Key West Buyers Agents |