Commercial Lease Agent Fee

[Enzo Magliozzi]

Hi all, I’m new to BP and commercial investing and have a question about an agent’s fee. My brother and I own a C class restaurant space that is in need of renovations. Our current month to month tennant always pays on time but is selling his business to a new restaurant operator who wants a new lease with us, including first option to buy. The new business seems like a solid plan and they will do big improvements to the building for 4 months of T.I. The new tenant’s agent approached us to begin this negotiation. She is asking us what her fee will be. What would be fair considering our property was not on the market and she is not representing our best interests? We’re thinking of offering her 2% and having that credit toward her commission if we sell to the tenant. Monthly or yearly payments as the lease is paid. No payment on renewals. I get that everything is negotiable, but just wanted to see if that seems like a good starting point. Thanks!