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Companies Turning to Tenant Rep Firms to Avoid Conflicts, Cut Costs

Sponsored By CresaPartners

Topics:: Budgeting & Planning; Finance & Risk Management; Professional Services

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Abstract:: As companies continue to cut costs, many are taking a hard look at their commercial real portfolio in an attempt to reduce their second greatest corporate expense following payroll. Many companies are discovering that they can save up to 25% on real estate costs if they partner with firms that specialize in tenant representation. Such firms represent tenants only, not landlords, and they avoid potentially costly conflicts of interest. Because such firms represent tenants and not landlords, they avoid potentially costly conflicts of interest. The point is that traditional brokers have a fiduciary responsibility to put landlord listings first-and when brokers lose their objectivity, the interests of tenants may be compromised.

The large real estate brokerage houses derive about three-quarters of their revenue from owners, and they try to form long-term relationships with them. In contrast, tenant rep firms don't need to worry about future agendas with landlords.

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Released: October 04, 2011

Length: 4 pages

Format: PDF (150 kb)

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