what are typical broker fees for sales of multifamily properties?

In Market Conditions - Asked by James F. - Mar 26, 2011
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Answer(s)

J. C.
Owner/Investor
Chicago, IL

It has been my experience :
- in the metro Chicago area 4% - 6%
- in the metro Wash DC area 6% - 7%
- in the metro Miami area 4% - 6%

Mar 27, 2011
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Stasiu G.
Broker/Agent
Cincinnati, OH

I would say that it depends on the price, for lower priced properties the fee is going to be higher. As the price climbs, the fee gets smaller.
6% is usually the starting rate and the price is negotiated from there. From a brokerage point of view, e are looking at it as: Why would I want to take this assignment when I can spend my time on another assignment which could bring me more money.

Mar 28, 2011
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Chris R.
Broker/Agent
Denton, TX

Dallas, TX area - typically total of 6% split between the parties. High priced properties might be adjusted at a point with amount over X figured at a lower rate.

Apr 7, 2011
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Matthew C.
Broker/Agent
Indianapolis, IN

In the Indianapolis area broker fees are 5%-8% of sale price. 8% being for low end and 5% at the high end. Although there is not really a standard rate allowed in my market according to state statute :) but if you average the current market this is what you will find.

Apr 11, 2011
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Leah H.
Hopkins, SC

All commission fees are negotiable. I would discuss a dual agency fee discount.

Aug 17, 2011
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Aurelio M.
Broker/Agent
Torrance, CA

6% for smaller properties and as low as 4% for larger complexes. Keep in mind that commissions are negotiable.

Aug 26, 2011
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John C.
Broker/Agent
Orinda, CA

It's negotiated between seller and agent. In California, usually 6% for small and mid-size and 5% for larger properties.

May 30, 2013
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