JHZR2
Staff member
I'm looking to buy a piece of commercial/industrial real estate. It's right off the interstate, but not close to much - ideal for me. Just a few acres with a workshop building. For personal use.
It's not a big transaction, and I think the asking price is about 30-40% over what it should be. I have rationale.
At what I think is a fair price, there's not much commission in it. If split between two brokers it's pretty small, like low thousands of dollars.
I'm not a RE investor. I own my house, I'd have a cash deal. I don't have a broker if my own. Frankly, I'd prefer to just go talk to the owner, but they are using an agent...
I need to negotiate the value down. Since there's not much money in the deal, and it's been on the market for a while, am I better off just working with the listing agent? I'm not opposed to paying a buyers agent even out of my own pocket, so they truly represent me (since a buyers agent paid by the seller's commission really represents the seller), but there's not much money in the deal for them.
So what's best practice here?
It's not a big transaction, and I think the asking price is about 30-40% over what it should be. I have rationale.
At what I think is a fair price, there's not much commission in it. If split between two brokers it's pretty small, like low thousands of dollars.
I'm not a RE investor. I own my house, I'd have a cash deal. I don't have a broker if my own. Frankly, I'd prefer to just go talk to the owner, but they are using an agent...
I need to negotiate the value down. Since there's not much money in the deal, and it's been on the market for a while, am I better off just working with the listing agent? I'm not opposed to paying a buyers agent even out of my own pocket, so they truly represent me (since a buyers agent paid by the seller's commission really represents the seller), but there's not much money in the deal for them.
So what's best practice here?