Who Pays for the Tenant Rep Broker?
It is important that you understand the commission structure on commercial real estate transactions before embarking on any brokerage relationship. This is to ensure that your best interests are always protected and that you end up in the right office space and on the right lease terms.
Commercial real estate commissions are, most commonly, calculated as a percentage of the rent due under the lease. The commission is paid to the Tenant Rep Broker upon signing of the lease and is paid by the owner, not the tenant. Tenant Rep Brokers are free to the tenant.
Difference between a Leasing Agent and a Tenant Rep Broker
A Leasing Agent is responsible for marketing the property and represents the interests of the building owner (Landlord). A Tenant Rep Broker represents the tenant in the leasing transaction. It is important to never go direct to the leasing agent if you see an office property that you want to view. Why? Because they only represent the Landlord's best interests. Worse still, if you start viewing properties without a Tenant Rep Broker, trying to bring one on board later on in the process or to negotiate the lease on your behalf, is painstakingly difficult. The key is to establish a good brokerage relationship first before embarking on any property viewings.
Before setting out on your hunt for new office space, decide and appoint a good local Tenant Rep Broker who will represent (only) your best interests when it comes to finding the ideal space. A good Tenant Rep is more than just a good office space finder, they will help you in all aspects of the transaction and negotiate the favorable lease terms on your behalf with the Landlord.
Most Tenant Reps have a representation letter that you will be asked to sign when appointing them. By signing this agreement, you will be demonstrating your commitment to find new office space through them exclusively, and they will work hard on your behalf and earn commission wherever you decide to relocate.
How to find a good Tenant Rep Broker
Search through our comprehensive directory of Tenant Rep Brokers to find one in your local area.
Planning an office move? Go the office relocation planning resource center
-
Start Planning Your Office Move
Wherever you are in your office move process Help Moving Office has the information you need to plan your office move properly.
Start Planning -
Access The Resource Center
With over 15 guides, checklists, tools & calculators the Resource Center has everything you need to plan, organize & manage a successful office move.
See Resources -
Office Relocation Services Directory
Looking for the right companies for your office move? Connect with independently sourced and pre-qualified vendors that are experts in your local market.
The Directory
Latest Tips
-
Chicagoland’s Office Moving Experts!
When it comes to moving and installing cubicles, MAC Relocations is not just a service provider; we are your partner in office transformation.
Read Article -
PROFESSIONAL PACKING SERVICES | DIRCKS MOVING & LOGISTICS
MOVING TIPS & ADVICE
Read Article -
Smart Moves: The Advantages of Opting for Used Office Furniture When Moving
As businesses evolve and spaces transform, the need for cost-effective solutions becomes paramount. Moving offices presents an opportunity not only to redefine your workspace but also to make savvy choices that align with your budget. Discover the advantages of choosing used office furniture when making the move – a decision that not only benefits your bottom line but also contributes to a sustainable and flexible office environment.
Read Article