Commission – It is generally known that commercial brokers get paid more than their residential counterparts.
What is a Commercial Listing Agreement?
A commercial listing agreement is a binding contract between the owner of a property and the broker that is authorized to market and sell to the highest bidder. A listing agreement generally lasts up to twelve (12) months which gives the broker enough time to market, negotiate, and get to a closing. It is common for the listing agreement to be extended up to 180 days if a prospective buyer is seeking to purchase.