10C — August 29 - September 11, 2014 — Shopping Centers — M id A tlantic
Real Estate Journal
S hopping C enters
It’s not just part of our name. It’s our commitment to YOU. Always.
By Mike Kushner, CCIM, Omni Realty Group Four reasons why you need tenant representation
In case you’re not yet con- vinced of the importance of exclusive representation in a real estate deal, let’s take a closer look at four reasons why you need tenant representa- tion/buyer agency to protect your best interests. 1. Unbiased Advice Serving only the interests of their clients – who are all tenants/buyers – allows ten- ant representation and buyer agency firms to offer unbiased advice. They can provide up- to-the-minute market infor- mation tailored to what the client needs to know and will aggressively represent them in negotiations. They are able to view every scenario through the eyes of the tenant/buyer and advise them on the op- tions that will best serve their unique needs. 2. One-SidedRepresentation Exclusive tenant represen- tation and buyer agency firms never represent landlords or developers. This eliminates any conflict that can result from trying to represent the interests of both sides. It also ensures that their loyalties lie solely with the tenant/buyer clients. One of the most valu- able aspects of working with an exclusive tenant represen- tation/buyer agency firm is the peace of mind knowing you are always top priority. 3. The Benefit of Special- ization The general perception among businesses has been “a broker is a broker,” with little notice of a broker’s spe- cialization and how it might impact the business’s real es- tate negotiations. Exclusive tenant representation and buyer agency firms specialize in representing the needs of the tenant/buyer only. They know how to structure deals and negotiate in the tenant/ buyer’s favor to achieve the most desirable outcome. 4. No Cost To You Best of all, tenant/buyer brokers are not paid by the new tenant/buyer; instead, the broker is most commonly paid his or her commission by the landlord/owner. The commission fee is negotiated with the landlord/owner and the listing agent before they start marketing the prop- erty, and that fee is usually paid regardless of whether or not you have a tenant representative/buyer agent continued on page 26C
id you know that real estate brokers each have their own spe-
a property use professional representation. Tenant rep- resentation and buyer agency firms prove that this is simply not true. These types of real estate firms exclusively rep- resent the interests of tenants and buyers and many people are starting to recognize the importance of this. In fact, in August the state of California made it law that real estate agents must be transparent about whom they represent and if they represent both parties they are barred from providing any confidential information between the two.
cialty? It’s true! Just as you wouldn’t see an eye doctor to get your hearing checked, you should also carefully con- sider the type
Sales | Leasing | Investment | CRE Advisory Services
of broker you seek to repre- sent you in a real estate deal, whether renting or buying. The misconception is that only those leasing or selling
Costas J. Hrousis, CCIM Shawn M. Donahue, MBA | Co-Founder + Principal | Co-Founder + Principal
610.997.0100 | www.VeraxiaCRES.com | Bethlehem, PA
Central PA’s Only Exclusive Tenant Representation/Buyer Agency Brokerage and Real Estate Advisory Firm
At Omni Realty Group, our mission is to secure the most effective space at the most favorable terms for our clients. We use research, skill and experience to offer unmatched, highly personalized service while carefully determining our clients’ needs and analyzing all possible solutions.
Real Estate Brokerage, Development, Consulting and Property Management.
OMNIREALTYGROUP.COM I 717 . 657 . 5833
MIKE KUSHNER, CCIM
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