Why Hire an Exclusive Buyer Broker?

Types of Real Estate Professionals
When trying to buy or lease real estate, there are two types of commission-based real estate professionals that may be involved: A Landlord or Owner Representative, and a Buyer/Tenant Broker. Often, real estate professionals and the firms they work for specialize in one or the other, but some do both.

Owner Representative Brokers ("Owner Agents")
The individual who represents the property owner with respect to the sale or leasing of a specific space is typically referred to as the Owner Agent. The Owner Agent is charged with marketing the space as widely and effectively as possible, in an effort to lease the space under advantageous terms for the property owner. The Owner Agent is usually hired by the property owner on an exclusive basis, meaning that he/she earns a commission upon the execution of a sale or lease involving that particular space.

Buyer/Tenant Brokers ("Buyer Brokers")
The individual who represents prospective buyer or tenants in identifying and buying or leasing real estate is known as a Buyer Broker. Buyer Brokers are typically retained on an exclusive basis by the prospective buyer or tenant so that when a sale or lease is signed, that Buyer Broker is credited for bringing the buyer or tenant to the space and procuring a transaction.

Why Engage An Exclusive Buyer Broker?
There are several advantages to hiring a Buyer Broker on an exclusive basis:

Dedication: A Buyer Broker is hired on an exclusive basis knows that he/she will ultimately be compensated for his/her efforts when you buy a property or sign a lease and is therefore much more likely to remain focused on your needs. A commission-based real estate professional’s most valuable commodity is his/her time, and an exclusive ensures that you get enough of it.

Experience & Advice: A good Buyer Broker can also give you valuable advice, help you focus on and figure out on how to think about your exact space requirements, and negotiate with property owners on your behalf. While you only buy property or sign a lease every few years, a Buyer Broker is in the market constantly. Their experience and contacts can add value in many ways. For example, they may be aware of space that may not yet be listed, or they may be very familiar with current market conditions and the pros and cons of each particular building and neighborhood.

Save Time: By having a good working relationship with your broker, you are able to shift some of the time intensive aspects of the space search to them, allowing you to focus on your business - where your time is best spent.