What is the cost/benefit point for bringing in a leasing agent for a small CRE?
My service-based company has been in an owner-occupied building for about 3 years. It's a renovated "lawyer turned a cute house into an office" building if you are familiar with that type of look. (Generally older, well kept, mid-city/downtown areas.) It's roughly 1900 sq ft, so not very large, but works very well for several people.

We were already 1/3 virtual before COVID-19, but once COVID-19 hit we went almost entirely virtual. Now, we only have one employee in the office every day, so it's mostly wasted space.

I'd like to lease this out to another business entirely. It just doesn't make any sense to have an entire building for one person.

I just put the properly on loopnet (3-month plan) a few weeks ago and just put a For Lease sign up a few days ago in front of the property. I have had one walk-through. (Didn't work out -- she was looking for short-term while her own building was being finished and also wanted a 50% discount on our ask.)

I don't feel like it's been very long. However, this is also the 1st time I've tried to lease out CRE.

How long would you let a property like this sit on the market before you looked to get somebody to rep for the property to find a client?

As far as commission, would love input. I found a good article on this. If I did "1st month's rent" as the commission amount, is that "1 month of rent for the entire term" or "1 month out of 12 x term?" So if the lease was a 3-year term, and the rent was, say, $3k/mo, would the commission be $3k or $9k generally?

edit: oops, the article I mentioned: [https://homeguides.sfgate.com/typical-commission-real-estate-agent-charges-rental-44332.html](https://homeguides.sfgate.com/typical-commission-real-estate-agent-charges-rental-44332.html)
[{"id": "hlf953q", "text": "In my market the LC is 4-6% of the total consideration of the deal, depending on whether or not the Tenant is represented by a broker.  Your building is kind of stuck in the middle: good chance another similar company isn't going to find you on loopnet, and not too many brokers use that service either.  Hire a broker.", "replies": [], "depth": 1}, {"id": "hlfdb0h", "text": "*What is the cost/benefit point for bringing in a leasing agent for a small CRE?\"*\n\nIt's excessive if you can find your own tenant.\n\nIt's a godsend if you can't.\n\nThe commission is the leasing agents to tell you...not the other way around.", "replies": [], "depth": 1}, {"id": "hlk2j0p", "text": "Confused on whether this is a sublease or you are trying to get rid of a building you own. \n\nSubleases in my market are fairly active in general if they have furniture. It does typically take 6 months to get a sublease deal done however and depending on location and the market it can take longer. \n\nThe article you linked to is all over the place. For your specific deal, I would expect the landlord to pay all tenant broker fees. In my market it is 5% to the tenant broker. This will vary by market. In hiring an agent to market and run the deal, I would expect a fee of 8%. This should cover loopnet, costar, and other marketing items like photos brochures etc.", "replies": [{"id": "hlk41yt", "text": "I own. :)", "replies": [{"id": "hlkg24b", "text": "You may want to consider speaking to a couple of brokers about the sale market where you are and asking specifically for a sale vs. lease analysis. If you sell, then you need to consider the next steps such as a 1031 exchange. If you simply want to lease and go from there because your basis is super awesome, then you may simply need to be patient or upgrade your loopnet listing. Silver is unfortunately the minimum as many times the basic loopnet does not appear for the minor users.", "replies": [], "depth": 3}], "depth": 2}], "depth": 1}]