Trying to underwrite a deal and I've seen different numbers. 

It depends which market you are in. I have worked at a few large institutional investors who buy deals that are $20M+, and they typically underwrite all 6%. Because typically with deals that big, there isn't just 1 broker involved. Usually that broker has multiple agents helping them with running analysis, preparing the presentation, etc. So when they split the commission, it's not as big as it might seem for someone who is underwriting the deal. 

Thanks - Tina.

I was thinking the fee would be lower than residential commissions in a meaningful way.