Broker Protected clause? splitting commission? how much to pay out?

Would i split 1/2 normal commission as owner w/broker since i'm paying to advertise and promote it myself? I'm not a broker/agent, but leasing as owner. Would i need to pay out based on the entire value of the whole lease? I was just burned by someone who had a 10 year lease but defaulted after 3 years? Is it uncommon to pay a broker each year if/when I get paid?
In Leasing Property - Asked by Summit I. - Jun 18, 2014
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Answer(s)

joe m.
Owner/Investor
Jensen Beach, FL

Why pay anything on less than an A credit and strong financials-----have the a
broker get their fee from their client.

Jun 18, 2014
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Martin M.
Broker/Agent
Dallas, TX

A broker may collect a commission for buyer and seller as long as both parties are cognizant or been apprised of the agreement in writing. The majority of the time doesn't allow a commission to be paid unless it's in writing or some other acceptable form. Electronic signature have been ruled on as far as enforcement of a contractual agreement.
This is not written by an attorney it is only meant to touch the surface of deep pond of knowledge for answers to legal questions consult an attorney. Your closest Bar Association is one of many places to start. Bigger cities have their own Bar Associations such as The Dallas Bar Association for Dallas,Texas

Jun 19, 2014
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Ron L.
Broker/Agent
Dallas, TX

If a broker introduces a tenant he represents to a property, and a lease is subsequently signed by both parties. 50% of the leasing commission is paid on execution of the lease, and the balance when tenant receives the Certificate of Occupancy from the city in which the property lies. This commission is usually 4% of the base rental paid over the lease period. Brokers cannot guaranty a tenant for the period of the lease. If the Landlord approves the Tenant introduced by Broker at the inception of the lease, then Landlord assumes the risk thereafter. That is what being a property owner means. There is risk involved. The Broker does a job of work. Pay him. It is not easy finding tenants in today's times.

Jun 21, 2014
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Douglas B.
Broker/Agent
Dallas, TX

In Texas, the commission agreement needs to be in writing and the rate and terms are negotiable between parties. It can be included in the lease or can be a separate commission agreement with the Owner. Most Owners typically will want to pay the "market rate" in order not to loose the prospective tenant to another Owner, but some Owners will offer above "market rates" as an incentive for Tenant Rep Brokers to bring them Prospects. Some Tenant Rep Brokers will except a higher percentage, say 6%-10% if the lease commission is paid out over a set term, as a way the get the deal done.

Jun 26, 2014
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