All Topics / Help Needed! / Agent’s Commission – where to start?

Viewing 3 posts - 1 through 3 (of 3 total)
  • Profile photo of ctaingctaing
    Participant
    @ctaing
    Join Date: 2006
    Post Count: 111
    June 3, 2006 - 10:16 am

    I have an overseas agent looking after tenant’s rental collection and general management for 5%.

    Now, the tenant has put in an offer of $400K and it’s still under negotiation. While I haven’t signed the Agency Agreement, I thought the general commission there of 2% plus GST is too high as the agent has done little to bring about the sale.

    The listing price is $430K, what should the commission be. I do not want to be rash and lose the agent’s interest & negotiation skills to close the deal.

    To complicate the matter further, the tenant has a lease expiring Nov 2007 while I have a change of plan. The tenant’s rental savings is my big negotiation drawcard.

    Please provide much needed insight to handle this.
    [blush2]

    Profile photo of holdencommodoreholdencommodore
    Member
    @holdencommodore
    Join Date: 2003
    Post Count: 88
    June 4, 2006 - 4:10 am

    Depends where it is – in Vic, comm’s are completely negotiable. if thats the case, write it on the authority that 1%+GST if tenant or any associated party buys it, or 2%+GST if any other party (something to that effect anyway – you call the shots)

    (“,) $$$ HoLdEnCoMmOdOrE $$$ (“,)

    Profile photo of ctaingctaing
    Participant
    @ctaing
    Join Date: 2006
    Post Count: 111
    June 8, 2006 - 4:44 am

    Hi HC

    I suspect he read your reply and said the same to me. To that, I’m happy to obliged.

    Thanks again.[inlove]

    CT

Viewing 3 posts - 1 through 3 (of 3 total)

You must be logged in to reply to this topic. If you don't have an account, you can register here.