Broker sells and rents same unit

all negotiated and paid for by seller, no?

Get the seller/owner to eat the rental commission.

Thanks guys,

I, an owner, have had great past dealings with my selling broker. I want to keep him around after this transaction.

I'm renting my unit out in March so he suggests I place it for sale as well (of course he has incentive, but this has been on my mind). Regardless, I need to rent it out since I'll be abroad. I figure I'll add the sales listing in case I get my price, what do I have to lose right? Standard transaction to me is below, unless I'm outdated or missing something?

Lease situation - Buyer broker splits commission to my selling broker, I pay nothing which I've done in the past.

Sell situation - I pay half of total broker commission, 3% - Is it offensive if I offer 2$ or even 1%, given the times? I've heard this to be somewhat normal nowadays, please remember I want to keep my broker for future transactions.

Also, I'm guessing he would post two listings for the unit (a selling and leasing) as I haven't come across too many listings offering both for the same unit in one ad. It seems from your posts I have a lot more leeway than I thought?

hol4--the "normal" situation--in a SELL situation-- is that you pay the full brokerage commission--not 1/2. The fact that the unit is being offered either for rent or for sale ought not impact that.Obviously if it is rented and not sold it is a moot point.That amount is negotiable--standard has been 6%, sometimes 5%, but the idea is that the amount is split between your broker and any cooperating broker. What you might broach with your broker--since it seems to be an ongoing relationship--is a split where the cooperating broker is offered somewhat more than your broker is: an examole would be a commission structure wherein you pay 4.5% in a 2 broker situation, with the cooperating broker getting 2.5% and your broker getting only 2%. You could also create a tiered commission structure wherein if there is no other broker you pay only that 2% to your broker. All that is nogotiable, but you need to ensure that your listing is reaching the entire brokerage community as opposed to just those direct buyers coming to your one broker.My personal opinion is that whatever you negotiate with your own broker, to offer less than 2.5% to the cooperating broker is shooting yourself in the foot a bit.

nyg,

Based on your post and other blogs, given the times i think 2.5% to buyer broker and 2% to mine works. I wouldn't mind paying my seller broker 3-4% if no buyer broker is involved, but I'm scared he might prolong the process to find a no-buyer broker deal, so I'm assuming he'll be cool (as in it's the norm) that I keep him at 2% regardless if buyer broker is present or not? Appreciate it, great post.

I have found that lowering my fees in this market has driven much business my way both with directs and co-brokes. I agree with nyg I always pay the other broker involved a fair and usually higher split than I receive. For instance I recently rented a penthouse at the Chelsea Mercantile a fairly large deal, $16,900 per month. As agreed with my clients I charged them 11.5% and paid the listing broker there full 7.5%(Corcoran)-everyone was happy. I am offering discounted fees but not excluding the rest of the NYC brokerage community as I need them and want them to be happy to do business with me. It is critical to me and my clients success that I don't alienate the big firms. The internet levels the playing field -I put my listings in the various data bases for everyone to see and advertise in the Sunday times so all REBNY brokers have access to it. Lower brokerage fees get more deals done with rentals an sales, I will not let a deal slip away over a commission. hol4 have a look and let me know what you think? www.theburkhardtgroup.com

I'd love to do business with you ... you are a total sucker. You offer a discount, only of your own services, and I get my full price on the other side. Keep up the good work!