I always prefer to have a written agreement with my client. It is important to both parties to define the scope of work. I insist on protecting my ability to be paid.
I clearly understand why you may be hesitant to sign a tenant agreement. After all, you really don’t know how hard I’m going to work and you don’t want to be locked-in for some period of time. I understand and agree; there are way too many brokers who are just looking to move on to the next deal. Being a good advocate for the tenant is more difficult than you might think.I work with an agreement that I believe is a win- win for all parties. It includes the following terms:
Ability to Terminate an Agreement If your interests and expectations are not being met we terminate. You should not be forced to work with me if you don’t trust or don’t feel I’m working hard enough on your behalf.
Quality over Quantity –Understand, it is much less work to send you 50 buildings than it is to properly screen 50 buildings and eliminate ones that don’t work for you. I’d prefer to send you the best 10-20 options after I’ve screened them all.
Commission Language in the Lease – By the time you are signing a Lease, you will be comfortable with me getting paid for the particular transaction.
The Total Fee Amount – I will tell you exactly what the fee is and how it is being shared before you complete the transaction. It’s your right to know and again, if I won’t tell you, I’m the wrong broker.