Brokerage Fees for Large Condo Projects

[Stan D.]

Hi all,

I was wondering if anyone knows what sort of fees big name brokerage firms charge when they partner with a developer to have exclusive listing rights for a new, large, luxury condo project. For example, if a developer builds 500 condos that he expects to sell within the next 2 years at an average price of 500k (Total projected sales = 250M), and he announces through the media that he has partnered with Big Brokerage X, what are the typical terms of this agreement? Is the brokerage paid upfront at all and do they still charge a percentage of total sales or is it more common to charge a flat rate?

Thanks for your input,

Stan