Expert: Stephen A. Cross, CCIM - 8/15/2011

Question
We own a number of commercial buildings in the Atlanta area and are preparing to put one on the market for sale or rent. We have been approached by an agent who wants exclusive rights to market the property. I believe they want something like 7.5% of the rent for this service.

My question is -

1. Are there many competing agencies?
2. Can I negotiate for a lower rate, or do all companies charge about the same?
3. Is it normal to insist on exclusive rights?

Thanks.

Answer
Larry:

Atlanta should have at least a dozen commercial real estate firms that would like to list your property.

For insights on commission rates, and selecting and working with listing agents, please refer to article 31 ("How to Hire, and When to Fire, Listing Agents") at www.crossrealty.com.

Very truly yours,

Steve