exclusive: Top Tips for Negotiating Commercial Leases - #11 Insist on an Exclusive Representation Agreement
- 03/17/11 05:05 AM
“I won't sign an exclusive representation agreement. I want to keep my options open.” This is a common comment from prospects who are fearful that an exclusive agreement will restrict them. Behind this comment is also the assumption that an exclusive agreement is only there for the tenant rep broker’s benefit. The reality, however, is that clients should NOT engage a broker who is willing to work without an exclusive representation agreement. There two primary reasons for this:
Time - working with 2-3 brokers wastes the client’s time because all agents will likely find the same properties and the client … (0 comments)
exclusive: Top Tips for Negotiating Commercial Leases - #7 Engage a Tenant Representative Broker
- 02/17/11 10:20 AM
As you can probably guess, this is my favorite tip. So while I have this as tip #7, it actually is the first thing taht you should do before you do anything else. Don't contact any landlord, not even your current landlord, before selecting and engaging a tenant rep. The rental rates landlords quote already include a fee for your representative. So if you don’t use one, it’s like paying for a service that you don’t receive. The landlord may offer to reduce the rent by the amount they would have paid a broker, but if the landlord is so willing … (1 comments)
Anything and everything related to corporate real estate - a company's use of real estate. This is usually a company's lease or purchase of office, warehouse or retail space.
“I won't sign an exclusive representation agreement. I want to keep my options open.”
;)
;)
;)
