I am looking for to sell my commercial property. One broker wants her fee 10% from the listing price. She said 50% of that will go towards the buyer's commission.
My attorney said it should be between 4-6% Any advice, suggestion will greatly be appreciated.
Commercial is different than residential.
Can easily be from 4% to 8% or higher. Depends on the complexity of the deal.
It can be split with the buyer's agent. But, sometimes, the listing agent isn't paying out to the buyer and the buyer has to pay their own agent.
Some of it depends on local customs and also the type of real estate involved (malls, apartment complexes, gas stations, etc.).
You should ask the agent where the money is going. It can be expensive to find buyers for commercial real estate.