Can I sell a commercial property privately without managing agent??

Discussion in 'The Buying & Selling Process' started by Anitahk, 25th Jul, 2018.

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  1. Anitahk

    Anitahk New Member

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    I have a property that has been managed by the same agent for many years. Last year, the business was sold and new tenants came onto the premises. The new incoming tenant asked the agent, if we were interested in selling the building to him? At that stage, we weren't but may be interested in a year or two. Last month, the tenant asked us directly, if we were interested in selling the premises.

    My question is, can we sell the property without any ramifications from the agent?
    Or when we decide to sell, can we dismiss the managing agent, manage the property ourselves and then sell?
     
  2. Brady

    Brady Well-Known Member

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    What does your management agreement state?

    Some agreement state that if you sell to a tenant that they're paid a commission.
     
  3. D.T.

    D.T. Specialist Property Manager Business Member

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    These will probably be answered by reviewing your management contract. Especially the last question - they'll specifically have a duration and a notice period.
     
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  4. Scott No Mates

    Scott No Mates Well-Known Member

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    What @Brady & @D.T. said.

    It will be in the management agreement if there's anything.
     
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