What do you guys expect to pay in commissions for a multi million dollar commercial real estate deal in DFW? When we bought the building, the commission was 6% on the first million and 3% after that. When we placed it for sale, we worked a deal with our broker for the same although he was reluctant. Now we have an LOI from a company using a different broker. The buyer's broker is wanting a full six percent commission (to be split between brokers) and our broker says we need to pay that or he'll take his client elsewhere. He says the market is typically a full six percent. Is this typical for the market on such high priced real estate? There's not much work or expense for the buyer's broker on this type of deal and the brokerage would still net over $50K. I'm a realtor (Mostly residential and land) from out of the area and I handled the purchase, so I know what all is involved. One thought is that our counter will require the buyer's to pay the additional commission, but I don't want it coming off the top from our pot as this deal will be very tight for us as is.
Thanks
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