What is a tenant broker?

A leasing agent is hired by a landlord or building owner to fill vacant space. Their responsibility is to represent the landlord and secure tenants for that property.

A tenant broker represents the prospective tenant or buyer. Because a tenant broker is not tied to one building or landlord, they can evaluate multiple properties, compare opportunities, and negotiate with the tenant’s best interests in mind. Working with a tenant broker can also signal to landlords that you are seriously considering multiple options, which may strengthen your negotiating position.

A tenant broker helps businesses find, evaluate, and negotiate commercial real estate. An experienced tenant broker should help you:

• Locate commercial properties that fit your needs
• Compare available spaces, pricing, and lease terms
• Understand the local commercial real estate market
• Negotiate rent, concessions, and other lease terms
• Understand important tenant rights and responsibilities
• Evaluate whether renewing, relocating, expanding, or downsizing makes the most sense

The main difference is who they represent.

A leasing agent represents the landlord or building owner. A tenant broker represents the tenant.

Although the landlord typically pays the tenant broker’s fee as part of the transaction, the tenant broker is not limited to representing one property or building. This allows the broker to compare options throughout the market and negotiate on behalf of the tenant.

Choosing an experienced tenant broker is important. They should have strong knowledge of the local market, available properties, lease structures, and applicable regulations, along with a proven record of helping businesses secure the right space and favorable lease terms.