Different Types of Commercial Real Estate Representation
There are three ways that an agent can interact with you as the consumer.
The first is that of a transaction broker. This is somebody who can take you around town, show you different spaces and give you advice on the transaction. However, a transaction broker does not have a legal obligation nor right to represent you in the negotiations.
The second type of relationship that’s available to you is that of a dual agency. A good example of this is if you were to call a listing agent to inquire about a property. That agent already represents the landlord so it wouldn’t make sense to hire them to represent you as the buyer or the tenant in the real estate negotiation. This creates a conflict of interest just as in a court of law an attorney cannot represent both the prosecution and the defense at the same time.
The third type of relationship it’s called a single agent. This is the best option for you as the consumer to create a relationship with a real estate professional to protect you and your interests in a real estate transaction.