I am residential real estate investor, and i usually use flat fee MLS listing service provider to list my residential properties. However, i have a small medical office building (around 1242 sqft). I would like to lease/sale this small medical office building. I am not sure that whether i can use flat fee MLS listing service provider to list my medical office building, or should i hire commercial real estate broker? And how much doi have to pay for commercial real estate broker for lease/sale my property?
You can call co-star and they will list it for you for free. Make sure you incentivise the brokers. I've given free vacations, several thousand dollars etc to someone who brings me a buyer/tenant.
Is it lease or sale? BIG DIFFERENCE.
1,242 sq ft is small.
Really not much money to a commercial broker. Maybe a tenant rep broker might take that on for residual income but regular transaction brokers typically won't touch it as the deal is too small.
A commercial broker working on 100k commission deals doesn't want to work on a 10k to 15k deal. A leasing broker might see that as more fruitful to them for their time.
Ash Patel: Thanks. I will contact co-star.
Joel Owens: I want to either lease or sale. What do you think is the best option for me? Should i post it on loopnet?
You can list it for both for free on co-star.
In my area, commercial properties are listed on the same MLS as residential properties - just under a different property type. In that case, any flat fee MLS company should be able to list commercial properties as well.
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