Commercial Broker Commissions
I am looking to negotiate commission on an office building (about 30k sq ft) from landlord's prospective. I am in DFW area.
- What is typical broker commission do you guy see?
- What if the tenent's side doesn't have a broker.
- What about on renewals?
- What payment milestones are safe to use?
Any other gotcha's I should be looking out for in the contract?
The splits in Dallas office are:
6.75% total
4.50% to a tenant rep broker 2.25% to a landlord rep broker
1/2 on lease execution & 2nd 1/2 on move in Yes they are paid on renewals - pretty much the same.
Thanks. To what extent are these negotiable?
This gets tricky - from a Tenant rep side, I would say not at all. The only thing would be on the landlord renewal piece. The last thing you want to do is be known as an owner who cuts the Tenant rep - CRE brokerage is a very tight group and once you get a bad reputation as being "cheap" then deals will stop showing up.
Thanks. What kind of numbers have you seen on renewals?
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