How hard is the transaction/paperwork for listing a 1M commercial property?
Been doing residential for 14 months now. Ive done 1.3M in sales  so far. I can do most transactions without any help from my broker by now.

Learning RE was very stressful as my Berkshire Hathaway training was piss poor.

A family member wants to sell his 1M commercial property. I am confident in marketing this for him I am not confident in the actual paperwork/transaction.

My broker said she would help but wants me to co-list with a team from our office.

That will take a giant cut out of my commission.

How hard is this going to be?

Should I take colisting role or not?

Bonus: I despise this team from my office they are the most successful but they have tried to hound one my listings this year.
[{"id": "hzyjm3p", "text": "It depends on what you are calling commercial?  Big difference between asset types.  But if you haven't done one, it is completely different compared to residential.  Do yourself a favor and team up or find a commercial broker that can help advise you for a referral.  It will pay off in the long run.\n\nGenerally, commercial paperwork is easier wise because if it's big enough, usually attorneys get involved.  If it's not big enough, the standard state forms could be good enough.  But you do have the potential of bigger problems.  CRE is \"buyer beware\" or the \"wild west\" since you don't have as many protections in place as residential for either party", "replies": [{"id": "hzyo707", "text": "It's an outdated laundromat. I would assume all the fixtures would be sold / scrapped.\nIt's in PA. There is an attached building which is rented to a barber. \n\nIt's just real estate asset right?\n\nFinding a team or a broker confuses me.\n\nI already belong to a broker as a salesperson. You're suggesting I find another broker just for this one transaction?\n\nOr find a team for this one transaction? Can you do that with teams? Just join for one listing?", "replies": [{"id": "hzyqwcd", "text": "It sounded like you didn't want to co-list with your broker or team there because of the big cut they would take.  I was suggesting to find another CRE specialist and pay a 25% or less referral in order to help answer questions by each step acting as a consultant for this transaction only.  If your broker will do it and they will help, then use them. But consider the cut worth it.\n\nI don't serve PA or that asset class but if it's a building sale, you could probably do it.  The problem is value/underwriting if you don't know CRE finance for that class.  You could drastically under cut it's value.  You may also have EPA issues and a variety of other obstacles.  That's why it's worth the help for the first deal.\n\nCRE is completely different compared to residential.  Get help for the first deal is my point.  Preferably someone who specializes in that asset class", "replies": [], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "hzyt0ws", "text": "It isn\u2019t complicated for veterans but it\u2019s complicated if you\u2019ve never done it before. \n\nEveryone has to learn sometime but why aren\u2019t you able to just list with someone else, tell them who you are and you want to shadow?\n\nThese deals will usually get cut in half by closing if you don\u2019t know what you have. Disorganized sellers, etc.", "replies": [], "depth": 1}, {"id": "hzzlnoy", "text": "pay the other team and look at it as a good opportunity to not do much work, get a check, and learn a lot.\n\nIts not the hardest thing in the universe obviously a lot of people do it all day every day.  If you don't have the training and support though its going to be tough as a one off and you will make lots of mistakes, which means you aren't offering your friend good service.  \n\nA laundromat redevelopment project honestly is going to have a lot of moving pieces and is going to be a bit tougher than a random office condo or something.", "replies": [], "depth": 1}, {"id": "hzzn2jg", "text": "Are you a realtor? Is this your area of expertise? Would you be best serving your client by doing something you have no experience in?", "replies": [], "depth": 1}, {"id": "i00jo64", "text": "It\u2019s usually the smaller and most seemingly innocent deals that end up causing the most headaches and litigation when it comes to Commercial Real Estate, especially without an experienced commercial broker in the deal. Refer it out or work with that team.", "replies": [], "depth": 1}, {"id": "i00owsu", "text": "Partner up and make sure your E&amp;O insurance covers commercial transactions. I\u2019ve heard some horror stories.", "replies": [], "depth": 1}, {"id": "i00pjo3", "text": "I\u2019ve sold a $3 million property and I just wrote up the offer. \n\nas soon as the offer is signed send it to the attorneys.", "replies": [], "depth": 1}, {"id": "i02563h", "text": "The same as a $100,000 or a $20,000,000 deal.  From what I\u2019ve seen, residential involved more paperwork and BS", "replies": [], "depth": 1}, {"id": "i02hh8c", "text": "Don't think about the commission, think about what's in your client's best interest.\n\nDon't use a residential broker for a commercial transaction. If your broker doesn't have commercial experience s/he isn't going to be much help. \n\nThe contracts are different, the due diligence is different, and the disclosure is different. \n\nYou may call it \"paperwork,\" to make it sound like just filling out some routine forms, but really it's a legally binding contract and there are consequences if you screw it up. As one of the other replies noted not all E&amp;O insurance carried by residential brokers will cover commercial deals.\n\nIf you want to earn a fee, find a commercial brokerage that you like and ask them to handle the deal and pay your firm a referral fee when it sells. (Around here referral is usually 20% of their share of the deal at closing). See what the best split  of that referral you can negotiate with your own residential broker. \n\nNB: If you don't like your broker and you also don't like the team your broker is proposing  maybe it's time to look for a different place to hang your license.", "replies": [], "depth": 1}, {"id": "i043tqg", "text": "As a commercial *mortgage* broker, I've been able to broker off market deals from one client to the other. \n\nShould you list with a broker? Maybe. But being able to keep a deal off market can make the transaction a lot more enticing to buyers. My DMs are open if you'd like to discuss.", "replies": [], "depth": 1}]