What is the special “closing Fee” in METRO ATLANTA FMLS ?

In Metro Atlanta (Barrow, Bartow, Chattooga, Cherokee, Cobb, Dawson, Dekalb, Douglas, Floyd, Forsyth, Fulton, Gordon, Gwinnett, Hall, Haralson, Jackson, Lumpkin, Newton, Paulding, Pickens, Polk, Rockdale, and Walton counties), is covered by the Georgia MLS ( GAMLS) and by the First Multiple Listing Service ( also called the FMLS).

The FMLS charges a closing fee of .12% of the sale price to the listing agent. This closing mandatory fee of .12% (.0012) of the selling price is due at closing and is not optional or refundable.

Example: If the sale price of your home is $100,000 the mandatory closing fee on these 23 counties would be $120 (100,000 x 0.0012).

For lease/ rent, The FMLS charges the listing agent a closing fee of:

–          Monthly Rent up to $1,499                              $15

–          Monthly Rent up to $1,500-$2,499                 $25

–          Monthly Rent up to $2,500-$4,999                 $50

–          Monthly Rent up to $5,000 and over              $100

which is due at closing.

Example: If the monthly lease price of your home is $2,750 the mandatory closing fee for these 23 counties would be $50.

Source: Inman

List your home on the GAMLS to avoid this fee