I need some advice please. I was asked to list a property that was a former school. It has another building on it. The owner bought it with intentions of turning it into a daycare. She said the county tax said it could be divided into 20 lots. It is literally a whole city block. It is 67000 square feet. I contacted a commercial agent I know. After reviewing the information he said he wants to give me 4 diamonds out of 20 diamonds. (I did not want to state actual commission due to Sherman Trust.) He said an auction is the best way to go and the advertising expenses are $3500. He said that he has a list of buyers from the all over the nation. The projected sales price is $400000. My cut seems low to me. When I contacted him initially I told him I wanted to colist it. Another auctioneer I talked to on a different deal a couple of years ago said as an auctioneer he handled all the upfront expenses. Is this reasonable? What questions should I ask? Thanks

It's a negotiation. Go back and forth until you reach a deal with this auctioneer and make sure the seller authorizes and auction sale in writing and says whether it is with or without reserve.

no legal advice

Thanks so much. You're the best!