Agent wants to charge homebuyer a $900 admin fee?

This homebuyer met with an agent who then referred them to a different agent and told them they expect him to pay a $900 admin fee (in addition to the 2.5% to 3% they are expecting to collect in commission).We've actually written about the BS admin fees in the past on Selling Later, but never have we seen one for this much!  We've also recently seen brokerages call this fee by other names like "Regulatory Compliance Fee" or " Transaction Fee."  Even more interesting is that you likely won't see this fee much in Dallas or Seattle, but is rampant in other mid sized cities.  So what is an Admin Fee and how can you avoid paying it?Matt Wheatley, a broker in Florida who doesn't charge an admin fee, joins us to discuss where this fee came from, why so many brokerages charge it, and how to negotiate out with your agent.0:43: Buyer story2:07: Intro to cohost Matt Wheatley4:17: What is a buyer/seller Admin fee?6:11: Why are fees so rampant today?10:30:  Are these fees required by the state?11:10:  Past admin duties vs todays duties12:05:  Agents making other agents pay their fee15:15: Where to find this fee?19:30:  How to negotiate this fee away?22:35: Matt's pet peeve in real estate 25:40: Finding out your agents reputation26:24: Internet trolls in real estateContact MattGot a question?Support the showState laws and regulations may vary.Have a story you would like to share with other sellers or buyers?Hit us up here.