We are ready to list the first small apartment (<2.5mil, DFW area) we own and do 1031, what is a reasonable brokerage fee? Is it similar to residential (6%)?
Thank you so much.
Brokers will always ask for more. I would negotiate the fee. 4% to 6% is reasonable based on the expected sale price. The higher the price the less fee they will take.
We are just working to get a deal under contract that we are selling. We called around to all of the local agents and offered them 2.5% if they could connect us with a buyer. So we were doing more work than just listing it, but the agents we okay with what we offered. Then we ended up finding a buyer on our own...no fees :)
Thank y'all for the feedback! I will see if we can negotiate down to 4%.
Brad, that was a great idea. I thought of selling our SF investment property SBO and only pay the buyer's agent 3% but my agent (the lady who helped us buy the property two year ago) said it's better to use seller's agent so it gets more exposure and competitive pricing...