James Bond wasn’t a double agent! Was Inspector Clousou a double agent? NO! Was Maxwell Smart a double agent? NO! In spite of that thousands of businesses worldwide unknowingly invite double agents into their inner circles yearly. Double agents are a problem because they have a built-in conflict of interest. Does one give information the secret design to Interpol or Scotland Yard? Whichever side ends up with the design wonders if it’s the real thing or a cleverly altered ploy to convince them to make abad decision. Governments, businesses, trade associations and "Mom and Pops" all face similar situations when their organizations reach the dreaded time in the business cycle when their lease is coming to an end or when an expansion or contraction requires them to relocate.

This is traumatic for everyone that leases space for their business or organization.

Today there are over twenty-five million businesses in the United States alone and thousands more governmental agencies leasing space. Many tenants are not aware that most commercial real estate brokerage companies concentrate on providing services to the landlord community. This only makes sense for the brokers who spend considerable time developing relationships with owners who control large blocks of lease-able space, which will be a source of consistent leasing commissions for extended periods. Broker/landlord relationships take time to develop once developed they jealously guarded.

All members of a firm are encouraged to support the relationships that the company developed. This approach is not particular to real estate brokerage; lawyers, accountants and other ‘consultants of trust’ face similar situations. However, the big difference between the agencies is that in real estate the individual is allowed to represent both sides of the transaction

Do you want a lawyer to represent you and your spouse in a divorce or a surgeon that supplies you with your first and second opinion in reference to your surgical needs?

A lot of business owners and managers are not aware that the real estate agent may be working for a company that has cultivated relationships with multi property landlords. Even worse, the agents themselves may be representing one or more landlords who are offering leased space to tenants in the market. Which landlord does this broker represent or golly, does the broker represent the tenant or one of the landlords. Decisions, decisions, how does one choose?

One can not fairly represent both sides of any transaction. If that were the case then there would not be sides to consider.

Landlords hire brokers to insure their best interests are represented regarding such things as which spaces in the building need to be filled, limiting tenant improvements, negotiating landlord oriented leases and getting the best price for their property. Nothing wrong with trying to do the best you can and hiring experts to give you an edge!

The problem is that most buildings have marketing and negotiating specialists representing landlords and many tenants are out in the marketplace un-represented or represented by a firm or maybe even a broker who also directly or indirectly works for the landlord. Because it is more lucrative to work for landlords, few brokerage firms are organized to represent just tenants in the market place. Tenant Representation as a specialty started several years ago and is steadily gaining popularity in this country and overseas as more and more companies become aware that alternatives to dual representation exists.

5 tricks To Hiring A Tenant Representative

First- Find a firm that specializes in just representing tenants. This should be possible in most major cities and suburbs, but tougher in smaller areas where brokers try to do it all. For larger companies with multiple offices there are a number of firms that specialize in sophisticated services designed just for larger companies.

Second – Obtain written assurance that the broker has no conflicts of interest and will represent only your business. Pay attention thoroughly for brokers may tell you, "we have adequately represented both parties for ample years," "we have a formula to handle that," "no conflicts of interest at the present time."

Third -Checkout their track record and references. Tenants who have had a good experience with a Tenant Representation broker will be happy to talk about it, because it is a unique experience.

Fourth Review the broker’s tools and services to make sure they are offering what you need. Tools might include strategic planning, lease comparison analysis, lease vs. buy investigation, project timeline management, preferred vendor recommendations, move management, and project and/or construction management.

Fifth – Make sure the tenant representatives working on your account are in fact knowledgeable and experienced in relocating a firm like yours. On the up side the majority of these firms have highly experienced employees and a strong commitment to service.