- August 15, 2017
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Commercial real estate brokers have several different roles, depending on the type of representation. Brokers are hired to represent the different parties in a commercial real estate transaction to ensure the purchase, sale, or lease of property is successful. The broker can represent each party from the tenant to the landlord. Our friends at SVN | Hintze Commercial Real Estate have discussed 4 types of commercial real estate representation below.
A commercial real estate Broker wears many hats but their base expertise lies in facilitating the successful purchase, sale or lease of real property. From marketing a property for sale and finding qualified buyers to negotiating the best lease contract for their tenant clients, Brokers are the necessary hired professional to navigate every type of commercial real estate transaction.
While a Broker is hired to work for anyone who needs assistance in a commercial real estate transaction, whether that’s a buyer, seller or tenant, they don’t work for everyone at once. In today’s post we answer a question we get a lot at our office, “Who does a commercial Broker work for?” Essentially there are four types of commercial real estate representation, which really means four types of relationships Brokers have with their clients.
Commercial Real Estate Representation: Who Does a Broker Work For?
Below we outline the four main types of relationships, both exclusive and non-exclusive, that commercial Brokers have with their clients.
In this capacity a commercial real estate Broker is in an exclusive relationship with their tenant client who is seeking to lease space in a commercial property. Referred to as a Tenant Rep, a Broker in this role solely serves the interests of their client in all…