What does a tenant broker do?

A tenant broker helps prospective tenants or buyers locate commercial property. A good tenant broker should negotiate the best possible lease terms with a landlord; provide you with an analysis of the real estate market in your local area, and advise you on your rights and responsibilities as a tenant.

Tenant broker vs. leasing agent

As opposed to a leasing agent that fills vacant space for a landlord or building owner, tenant brokers work for the tenant. Even though a building owner pays a tenant broker’s fee, tenant brokers do not work exclusively for a single property or landlord, and therefore should represent the tenant’s best interests. In addition, working with a broker lets a landlord know you’re seriously looking at multiple leasing opportunities, and may lead to more competitive lease terms.

It’s important to use a tenant broker that is experienced. They should have knowledge of the local real estate market, laws and available space; and a proven track record of helping clients find property and negotiating the best possible lease.