Commission for Selling Multi Family Building? - Landlord Forum thread 332622

Commission for Selling Multi Family Building? by Bob (CO) on March 25, 2015 @19:34

I am looking at selling almost $3 million worth of income properties (3 buildings). The broker wants 5.25%.

Is that reasonable? Thanks.

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Re: Commission for Selling Multi Family Building? by Garry (Iowa) on March 25, 2015 @20:16	[ Reply ]

In Iowa, residential real estate commissions are 7%. I don't know what they are for commercial properties. My guess is 6%. Just check with several brokers/companies to find out what the going rate or range is. Also, remember, the higher the listing price, the more negotiating power you have on the commission. But don't necessarily pick a broker based on their low comm.price. Pick one who has a strong track record of getting properties sold fast and at as close to the original list price as possible. Have several companies do a "market analysis " of your property, so YOU know what you should list it for.

Re: Commission for Selling Multi Family Building? by Nicole (PA) on March 27, 2015 @12:15	[ Reply ]

I would hire a realtor in the top 10% in my area. The board of realtors publishes this in my area. I would offer 1% more than their set commission with that going to the buyer's agent - if your agent sells, good for him. What that would do would have the realtors directing (perhaps even pushing) their buyers to your places.