21 Apr Conflict Who? The Benefits of a Tenant Rep
The concept of tenant representation was created to emphasize user advocacy and to provide the corporate world absolutely objective, comprehensive, multi-disciplined real estate services. Tenant representatives serve only one interest – their clients.
They have only one goal – secure the best deal for their client. They succeed in only one way – finding a competitive edge. We specialize in providing real estate services to the facility user, focusing on strategies and methods to control and reduce occupancy costs. We place the highest priority on achieving advantageous results, establishing goals for each situation, implementing strategic plans, and quantifying our performance against those goals. By engaging a tenant rep to negotiate and ensure your best interests, you position yourself to evaluate all space options in the market, conflict-free from Landlord ties. Tenant rep creates a bidding war among several landlords on the client’s behalf resulting in concessions and incentives. Tenant rep serves as a buffer between tenant and landlord during negotiations. The tenant rep has no vested interest with the landlord so he can play the “bad guy” to get the best price for the tenant. The client does not have to haggle with the landlord and lose goodwill. Tenant rep is paid directly by the landlord and is no additional cost to Tenant. Commissions are already built into Landlord’s building pro formas and profit/loss statements.
A broker who represents landlords and tenants has divided interests in that his goal is to drive rental rates higher for the landlords he represents and lower for the tenants he represents. How do you know where his loyalties lie? Who is best being served? Who provides a greater paycheck, your one deal, or the multiple transactions occurred when representing entire building – the answer is obvious, isn’t it? By focusing solely on Tenant Representation you avoid the potential conflict of interest that arises when brokers represent both landlords and tenants.