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Anyone have any Commercial Real Estate experiences?
Posted on 8/7/17 at 11:23 am
Posted on 8/7/17 at 11:23 am
I am the landlord looking to lease part of a commercial office building. What should I look for in a commercial realtor? I looked on line and one article says to expect to pay 3% commission for 2 years of the leased square footage. For example, if I rent 2500 sq. ft at $17.00/ft that would be 2500 sq ft. X $17.00/sf X 2 year lease X 3%= $2,550 commission to the realtor. One guy I checked with wants 6%, which I don't think is too bad.
Any other things I should be aware of in hiring a CRE? MT experiences, both good and bad?
TIA
Any other things I should be aware of in hiring a CRE? MT experiences, both good and bad?
TIA
1
Posted on 8/7/17 at 1:35 pm to MadDoggyStyle
for any real deals it's 3% of the initial lease term if one broker is involved and 6% if two are involved so they can split it. find the "office" commercial guy and it'll be worth every penny, don't get a residential person. make sure to have a land lord friendly lease drawn up by your lawyer, b/c they can be really bias one way or the other..
This post was edited on 8/7/17 at 1:37 pm
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