Whom does a broker work for?

Brokers generally work in two capacities, as listing agents or as tenant reps.  Some of the brokers if not most, do both, meaning that they have property listings and they also work as a tenant rep. If you are working directly with the property listing agent, make no mistake, that broker is working for the property owner. If you hire a tenant rep that also has listings, then you need to have a very good understanding of what listings they have and what conflicts, if any, which creates. For example, in addition to the fiduciary issues that come with representing both parties in a transaction, the agent will most likely make more money if you lease a space at his listing. Instead of having to split the commission, he collects both sides.

Posted in: Leasing Commercial Real Estate

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