In commercial real estate transactions, there are two sides- the Landlord/Seller side and the Tenant/Buyer side. Who represents who?
A listing broker represents the Landlord/Seller and has their best interest in mind. Simply put, their goal is to try and bring the Landlord/Seller the best deals terms possible. Many Tenants/Buyers believe they are already working with a broker because they called “the name on the sign”, but unfortunately, “the name on the sign” is working for the Landlord/Seller. If a Tenant/Buyer comes into the deal “unrepresented”, they may or may not know the market and more importantly, what concessions to ask for during negotiations. Every deal is different, and every Landlord/Seller is different!
To “even” the sides, a tenant or buyer could hire a Tenant/Buyer Broker who fights on their behalf to get them the best deal terms possible. Also, a Tenant/Buyer Broker, the majority of the time, is free to the actual Buyer/Tenant! Yes, you can hire an expert in the commercial market to assist with site selection and negotiations, while having your best interests in mind, for essentially free! 99% of the time, all commissions are paid by the Landlord/Listing Broker in an agreement negotiated between the two. I enjoy representing Buyers and Tenants because every assignment is different, and every business has different needs/priorities! Next time you are looking to relocate or purchase, please consider engaging a knowledgeable Tenant/Buyer Broker to assist with your negotiations!