may send one of these after some preliminary back and forth and tours with the owner.
BUYER (TENANT) REP ANT) REPRESENTATIVE
This is who you would hire when you start your search. We only work for you and are obligated to do everything in your best interest. We are here to help you in your office search, find the best property for you, optimize your space, and negotiate with the owner and their team on your behalf. We work on a commission that is split with the owner’s agent (if he has one). The owner pays our commission fee as well, thus there is no cost to help buyers like you. I put tenant in parentheses because most brokers you will use to buy a property specialize in that. But we are more than happy to see you through a deal. It is the same benefit to us; there are just more tenants than buyers.
OWNER REPRESENTATIVE
While a buyer representative works with the party that needs space, the owner representative does the same for the owner. Often you may be dealing with them instead of the owner. They represent the owner’s best interest and are there to get the most profit from their client’s investment. They are also experts in negotiations and are authorized to secure deals, upfront payments, and any other parts of the sale. That is another reason buyers should not represent themselves, as they would be at a huge disadvantage working against a broker in negotiations. Just like buyer representatives, these brokers are paid a commission at the end of the deal that comes out of the owner’s pocket.
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