leasopedia

Upon selecting a tenant broker to help you find space, the tenant broker will likely present you with a letter of representation detailing the exclusive relationship he/she has with you (the tenant).  Signing this shows your readiness to acquire space and inspires confidence in the tenant broker that he/she will be paid a commission, should you sign a lease.When you should sign one can vary.  Some tenant brokers will show you some valuable deliverables such as a market survey or available space comps based on an initial conversation, and will ask that you sign a letter or rep. to officially establish a tenant/broker relationship.

We recommend that you sign an exclusive agreement rather than working with several different brokers on a non-exclusive basis, as you will get the best treatment with one broker focusing on your needs.  From a landlord’s perspective, it signals that the tenant is professionally represented and that they will have to compete with other landlords for the tenant’s business.

It can be said that non-exclusive brokers are practically sub agents for the landlord, because they aren’t bound to the tenant to find the best deal.  They are merely looking for the quickest way to get the tenant to sign a lease at the highest rate possible, since they aren’t solely accountable to the tenant.