Fees for commercial property agent

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    Fees for commercial property agent

    We have an office accommodation in the North and are looking for commercial property agents to market it for us. I find that unlike the residential estate agents the fee structure for this group isn't that transparent. I'm just curious how much have you paid for commercial estate agents to market your commercial space? Is it common for them to charge marketing fees on top of the percentage they'll receive if they managed to let the property?

    #2
    10% / 1% is the norm in most area's outside London.

    Also extra fee for board, advertising, brochure's, online are pretty normal. I've even seen fee's for mailing out to database....

    Negotiate where you can....

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      #3
      "Is it common for them to charge marketing fees on top of the percentage they'll receive if they managed to let the property?"

      Acting for landlords, I often sub-contract lettings to local or regional agents, (I either charge an overriding fee to my client for project managing the letting and/or share some of the agent's commission (in case anyone should wonder, I always disclose the arrangement to my client.) In my experience how much the agents wants to charge depends upon the locality, region, etc, also how much the agent expects to earn from the instruction. In my case, (surveyor to surveyor) it is probably easier to agree special arrangements for any costs of the nature you mention, but generally the less you want the agent to do the more the saving on any extra costs over and above the letting commission.

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        #4
        Just an update on this. I've paid a local agent £350+Vat for 'out of pocket expenses' (advertising fees, To Let sign, etc). On top of this the agent will get a 10% commission on the annual rent once a tenant has been secured.

        I didn't know I could negotiate the fees for the estate agent though?

        Thanks for the replies!

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