I can’t tell you how many times Tenants have told me that when they looked for space on their own, no one would call them back.  Or they tell me that once they did get a callback, the listing broker was less than responsive or they felt like no one was looking out for them. Unfortunately, this is true in my industry. 

Landlord brokers are extremely busy right now because the market is hot. They are so busy that they don’t take the time to speak with someone that they consider is, in their words, “Tire Kickers”. They would prefer to work with someone they knew or had worked with in the past that is a viable deal. They don’t have the time to invest in someone they really do not know or weren’t referred to them by a friend.  

You see, most commercial real estate companies make their money representing landlords. These are relationships that they have established during their careers and listing properties is how they make money. However, keep in mind, when they list those properties they have a contractual obligation to negotiate against you, the Tenant. Their fiduciary responsibility is to the landlord that signed their listing agreement. 

The moment the Landlord hires the agent to market their property. The agent’s job is to negotiate the best terms and best lease rate possible to make their landlords’ as much money as they can. In turn, the landlords re-hire them on their next commercial real estate project and that is why most commercial brokers work for landlords. 

With that said, there is hope! There are a few of us out there that specialize in representing Tenants and Buyers only. Someone that does not have a conflict of interest because they don’t have a contractual obligation to only show properties they have listed. But rather, when you hire a broker that only specializes in representing Tenants, their fiduciary responsibility is now to negotiate the best terms and best lease rate possible and truly look out for you, the Tenant. Click here to read Part 2. 

If you need assistance with finding or renewing an office, retail, or industrial lease and want someone looking out for you, please contact me as my specialty is Tenant and Buyer Representation. The best part about my services is that they are free to you! If you would like to schedule a phone call to discuss further, please click below!