BrokerageIndustry News

Calling out real estate ‘junk fees’

Realtor Notebook
Published on May 14, 2009

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by CareyBot

It is all over the Internet news. A court ruled that an "admin fee" that real estate brokers sometimes charge buyers or sellers may in some cases be a "junk fee."

"In a decision late last month that is sending shudders through the realty brokerage industry, U.S. District Judge Virginia Emerson Hopkins in Birmingham, Ala., ruled that when a realty firm charges clients an 'admin' fee, for which no specific settlement services are performed, the fee violates federal law," Washington Post columnist Kenneth R. Harney reported.

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