Commercial commissions?

[Jon Klaus]

What's the standard for your area?  Say, for a $1,000,000 single tenant net leased building?  What would you pay a firm/broker to list/market/sell?

Any DFW - Dallas input?

[George Tak]

Jon, any commissions are negotiable.  Having said that, total commission usually asked by the broker for under $1,000,000 is 6%.  It is usually shared 3% and 3% by the listing and selling broker.  Over $1,000,000, it is usually 4%.  2% and 2%.  If you are selling and are negotiating the commission, just watch out that your listing broker pays enough to the selling broker.  Sometimes, they take 6% and give out only 2%, or they take 4% and give out 1% to the selling broker.  Some listing brokers do not even give any commission to the selling broker.  This isn't illegal but I, as a seller, would want to attract as many selling agents as possible by giving a fair commission.  The commission split should be spelled out in your Seller Rep agreement.