Foremost; the LISTING AGENT is not responsible for DISCLOSING things that he does not have "first hand" knowledge of: If he hasn't lived in there, he would not be expected to know something like that.
Likewise, an absentee Owner, having not lived there, would not be aware of something like that.
Surely you visited the premises and did your due diligence? You didn't see a building being constructed across the street?... more
Commercial Real estate agents are typically paid a commission upon the signing of a lease. The commission is paid by the owner of the building and is typically paid one-half upon lease execution and one-half upon tenant occupancy. The commission is most often calculated as a percentage of the lease value and usually ranges between four and six percent. For example, if a tenant signs a 3-year lease for 2,000 square feet at $20 per SF per year, a 5% commission equals $6,000 (3 yrs x 2,000 SF x $20 x 5%).
To further complicate matters, the agent's Broker is the one that gets paid the commission. The Broker then pays a portion of the commission to the agent, depending on the agent's split. Commission splits range anywhere from 50/50 (most common) to 90/10 in favor of the agent. Using the above example, the agent would receive anywhere from $3,000 to $5,400.... more