Commission to pay a buyer's broker?

I'm trying to sell commercial land myself on loopnet and craig's list for around $700,000. What is a fair commission to offer buyers' brokers. What percentage will make them interested enough to show their buyers? Any other suggestions to market the property?
In Selling Property - Asked by Kurt P. - Apr 27, 2012
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Answer(s)

Kyle M.
Broker/Agent
Wyomissing, PA

Most brokers would expect somewhere in the neighborhood of 6%. Good luck with selling your property.

Apr 30, 2012
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Donn H.
Owner/Investor
Port Orchard, WA

If your going to pay 6% commission hire a local commercial broker to market it for you.

May 1, 2012
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Michelle W.
Broker/Agent
Pinole, CA

At least 6%

May 1, 2012
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Ross M.
Broker/Agent
American Fork, UT

Since you are representing yourself, a 3% comm to the outside Broker would be appropriate. Any more and you should hire a Broker as Donn H. suggested.

May 1, 2012
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Kevin G.
Broker/Agent
Miami Beach, FL

Ross M has given you the honest answer to your question. 3% to one side is appropriate. You are the selling side of the deal because you are representing yourself. That's where you save 3% although, without the benefit of a selling realtor's marketing, the "savings" is sometimes arguable.

May 2, 2012
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Chris R.
Broker/Agent
Denton, TX

In your example - a commission of - in the 3% range - would be typical in our neck of the woods. Of course - any and all commissions are entirely negotiable between the parties involved.

May 3, 2012
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Rob B.
Chandler, AZ

Kurt...
The answers you have received on this are somewhat missing the point. Your comment was "What percentage will make them interested enough to show their buyers?". Therefore, the question is just how much do you want to sell the property and how easy might it be to move? That will always determine the commission to attract a buyer's broker. Anything over the 3% buyers side is extra incentive. Frankly, 6% is not out of line for a harder to move property. (Even more in some cases).
The real question is at the price you are offering, what commission can you afford to pay and still leave something on the table for yourself?
Onward and Upward!
Rob Baird, rob@capratecommercial.com

May 8, 2012
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