Special agent needed to sell apartment building

What type of sales commission should owners expect to pay?

The real estate event of the summer
Connect with other top producing agents at Connect SF, Aug 7-11, 2017

DEAR BOB: We are considering listing our 48-unit apartment building for sale. So far, we have spoken with two Realtors. We would like to know what sales commission to expect to pay on a $3 million sale. The standard rate for houses in our area is 6 percent commission. One of the Realtors wants a flat commission. The other has some sort of pyramid-style system involving starting out at 10 percent and going down to 3 percent after a certain amount, all combined together. What guidance can you give? --Ellen A. DEAR ELLEN: You need an apartment sales specialist who only sells commercial and apartment buildings. Stay away from sales agents who specialize in single-family sales. Purchase Bob Bruss reports online. Real estate sales commissions are negotiable, especially on $3 million income property sales. According to Real Trends, the average home-sale commission is now 5.1 percent so your commission should be less than that. Interview at least three or four apartment and commercial property...