Commercial Real Estate agents commissions

[Janice Manola]

Hi all, I am new to commercial. I interviewed one agent. He told me that in order for him to look for properties for me, I have to sign a contract with him so that he will be my sole agent. On top of that, he charged few grand up front for analyzing deals. I interviewed another agent. He never mentioned about commissions. But he told me he would charge 10% of the loan amount as he will assist me on bringing all info (Financials of the properties) to the banks to get the loan; and he suggested to get 20% ownership of my property if he brings me a good deal. My question is are these norms in commercial real estate? So when commercial real estate owner sells, there won't be a fixed percentage set as commission to agents like in residential? Any thoughts?

[Joel Owens]

Janice you need to drill down on what type of commercial real estate you are interested in.

For instance I specialize in apartment buildings and also retail with triple net leasing.

If you came to me for instance wanting industrial I would tell you I have friends that have been doing only that for decades and I would give you their info. You do not want a generalist commercial broker or agent dabbling in everything. They typically have a general understanding but not the really deep knowledge and expertise for that segment of the commercial asset type.