We're designing a 3 unit residential building, working for the building's developer. We've done a couple of similar projects that have been well received and were contacted by an individual who likes our work, who lamented not buying a unit in one of our previous buildings, and who's looking at apartments/townhouses that would likely need renovations, hopefully with us designing them.
But there's one interesting twist. Our potential client would probably love to buy a unit in the building we're currently designing.
Should I approach the developer of the new building, and propose to him that if I bring him a buyer, I get a finders fee? He'd pay a RE broker 4% of the purchase price - which could be $2M, so we're talking an $80K finders fee if I was to negotiate the same fee.
If the developer says no thanks to this deal, am I crossing any ethical lines by not telling him about the new building, and focusing with him on his finding a building/apartment to renovate?
What do all of you think? Has anybody out there dealt with this sort of situation?
Nov 17, 13 5:15 pm
Block this user
Are you sure you want to block this user and hide all related comments throughout the site?
Archinect
This is your first comment on Archinect. Your comment will be visible once approved.
Architect collecting fee for finding a buyer?
We're designing a 3 unit residential building, working for the building's developer. We've done a couple of similar projects that have been well received and were contacted by an individual who likes our work, who lamented not buying a unit in one of our previous buildings, and who's looking at apartments/townhouses that would likely need renovations, hopefully with us designing them.
But there's one interesting twist. Our potential client would probably love to buy a unit in the building we're currently designing.
Should I approach the developer of the new building, and propose to him that if I bring him a buyer, I get a finders fee? He'd pay a RE broker 4% of the purchase price - which could be $2M, so we're talking an $80K finders fee if I was to negotiate the same fee.
If the developer says no thanks to this deal, am I crossing any ethical lines by not telling him about the new building, and focusing with him on his finding a building/apartment to renovate?
What do all of you think? Has anybody out there dealt with this sort of situation?
Block this user
Are you sure you want to block this user and hide all related comments throughout the site?
Archinect
This is your first comment on Archinect. Your comment will be visible once approved.