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This is the most common form of buying/selling a property and essentially involves a binding private contract for sale to be drawn up between the parties. A sale of a property or investment opportunity by “private treaty” allows the vendor a much greater degree of control over the actual sale process and any specific conditions that should apply. However, unlike a sale by auction, the actual completion of the sale can take considerably longer to achieve.A commercial property agent is usually appointed to manage the disposal process, and a marketing strategy and marketing budget should be agreed with the vendor, to meet the client’s particular requirements. The agent’s fee is usually based on a percentage of the sale proceeds achieved and tends to be in the region of between 1% to 2.5%. This will usually be exclusive of VAT and disbursements, and legal costs.