Posted by Kyle Miller on August 10, 2005 at 19:37:51:
You might also want to check into whether the listing broker’s commission is dependent on whether or not somebody else is the procuring broker. Depending on negotiation & local custom, that could change. I.e. under scenario #1 there is a fixed amount, either split between listing & procuring or given entirely to listing if no procuring. Under scenario #2, the listing broker will get more if there is no procuring broker, but still less than the the total amount earned by listing & procuring agents when buyer is represented.
The purpose would be to ascertain whether there is a cost in obtaining your own representation, or whether a fixed amount of commission will be paid no matter what. If the latter, then enlist the support of a fully independent broker whose expertise and fiduciary duty should represent just your interests.
I am currently looking at a NNN lease back on a fast food property in Aurora, CO. Can someone suggest an expediant way to obtain comparable rents of similar properties in similar area? Thanks.
Re: how to find comparable rents - Posted by Kyle Miller
Posted by Kyle Miller on August 10, 2005 at 12:10:06:
Caveat: I work for a commercial brokerage in CA. That being said, you may want to use a broker. Part of a broker’s value proposition is their ability to track and provide market comp info, so that the buyer/seller doesn’t over/under pay.
If you decide to go that route, you would probably be best served by talking with a larger local commercial brokerage that specializes in retail.
Please post any additional methods for obtaining such leasing comp info and what you ultimately do, so that we can all learn from your experience.
Thank you for your response. I did get comps. from a large local retail brokerage via the seller’s broker. I want to verify the information. I may call the local broker myself.