Comparable Market Analysis Cost?
So I'm wanting to FSBO family owned strip mall and I'm wondering what a broker would charge for a CMA. I now if I list it with a broker I can get it done for free, but I don't want to use one.
[{"id": "g3j4xmu", "text": "Probably $500ish for a BOV. \n\nOut of curiosity, why not use a broker? You\u2019re likely to get a higher sales price and can just build the fee into the asking. Odds are the buy side is going to have a broker so you\u2019ll likely be paying a broker anyway.", "replies": [{"id": "g3jk4ng", "text": "Brokers here want 5-6% which is gonna be 6 figure commission. I want to try selling it ourselves first and then if we can't then use a broker. I'd rather split that savings with a buyer.", "replies": [{"id": "g3jpc6b", "text": "Statistically, even after you factor out the commission you'll still net more than if you FSBO it.", "replies": [], "depth": 3}, {"id": "g3kqj1z", "text": "If that's 5-6% total to be split between buyer and seller's brokers, then that's in line with typical. If it's 5-6% to one side, that's absurd. Fee is negotiable and certainly so in the current climate. Perhaps find a hungry broker at a boutique shop.", "replies": [], "depth": 3}, {"id": "g3r06wr", "text": "You can just get an appraisal too.  From that comment I assume its worth a couple/few million?  Thats like 1k-2k to a BPO/BOV or maybe 3-5k for appraisal here.  \n\nIf you have no idea what its worth you may struggle with the sale process a bit too.  If you just need comps and know how to figure out a cap rate and adjust your income statement thats way cheaper.  Not even sure what I'd charge for that, probably just give it to you and hope you call me if it doesn't sell or I at least get first shot to bring my clients.", "replies": [], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "g3o2ol5", "text": "Why don't you reach out to different brokers and ask for their opinion of value. You could probably end up getting a better idea of the property if you ask more than one person. Although you seem set on not using a broker maybe one of them can change your mind. Either way it doesn't cost you.", "replies": [], "depth": 1}]