Real Estate Agent asking for money

[Sean Abrahamsen]

Hi Everyone,

I am fairly new to real estate still but I am on the hunt for my first rental property. I have been in contact with some real estate agents.

I have one real estate agent that has asked me to sign an agency agreement and $300 in order for me to work with him. I am wondering if that is a normal thing or is this a red flag.

Any thoughts on this would be much appreciated.

Thanks,

Sean

[Kristin Kiddy]

I disagree.  I like the idea of charging a small fee up front ($200 to $300).  There are too many people who want all the expert advice and then drop the agent like a rock as soon as they get their answers/info.  My broker has 30 years of experience in real estate investment, commercial real estate, and rental management.  He can provide market analysis and real estate investment planning for his customers that is tailored to their specific needs and goals.  He is thinking about charging a small fee upfront to be credited back to the buyer/or seller at time of closing.  This shows that the customer is committed to him and prepared to actually move forward with their investment.  And if they don't buy or sell anything, then they got an amazing education at a very cheap price.  (I feel very lucky to be working with him.  I'm learning a ton every day).