- The broker’s fee usually corresponds to the size or complexity of the transaction. There are some standards in the industry for brokerage fees, but since it is a commission-based arrangement, often the fees will vary.
- Fees usually consist of a percentage of the financial value of the lease being negotiated. Often leasing commissions are about 5-6% of the aggregate lease value, which is the term of the lease plus monthly rent. Usually these fees are limited to only the first 10 years of the term.
- Fees are often negotiable, but property demand will factor into the likelihood of you getting a lower fee. For instance, a broker may lower a fee in a depressed real estate area just to make a sale.
- Be sure you know in advance exactly what you are getting charged in advance, and be aware of any additional fees for performing a search, listing a property, or any other services.
Be sure to check carefully into what you are being charged for and know what is a normal price when you begin working with a commercial real estate broker.
If you would like to learn more about commercial space for lease in Overland Park, give a DDI commercial real estate broker in Overland Park a call at 913-685-4100!
Since real estate agents and brokers are in this business to make money, they can, on occasion, put their own needs ahead of yours, by turning down potential deals from which they cannot make enough money on a commission. This is neither ethical nor legal. Make sure that if you’re selling a property, the agent or broker adheres to the law and tells you about all offers, even if some are low and won’t yield the hefty commission checks they’d prefer.