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Updated almost 6 years ago on . Most recent reply
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using Comm real estate broker vs Residential broker
I own a commercial property in Mass and actively looking to sell. Been dealing with a commercial broker ( nothing signed or legal binding) and because of certain circumstances i wanted to start out and treat this as a pocket listing instead of the MLS. The property is located in a town that has approved an overlay zoning district which would allow Residential/ mixed use and is close to a developing downtown area which has drawn a lot of attention to developers. So unrelated to the broker i been taking to, i recently had unsolicited contact by another broker that knows a client looking for exactly my kind of property and knows the area and has given me an offer at the price i was willing to sell. What kinda strange is this unsolicited broker is officially disclosing that she is working on my behalf and has only asked for a 2% commission and would i be willing to pay that ? 2% in a commercial deal is darn low but suspect she is a residential broker, Of course i will find out for sure but my question is what perils lay ahead of me using a residential broker vs a Commercial broker in a commercial situation.. any thoughts or advice would be greatly appreciated
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@Daniel Okeefe you should ask for the broker’s experience with commercial. A low fee is nice but lack of experience may hurt you in the end. Comm and res are two different animals.