In a recent blog, we talked about what makes Omni Realty Group Central PA’s only exclusive Tenant Representation and Buyer Agency Firm. But more than just understanding what it is we do, it’s important to also understand why working with a firm that exclusively offers tenant representation and buyer agency will greatly impact your leasing or buying experience.
Real estate brokers each have their own specialty. Just as you wouldn’t see an eye doctor to get your hearing checked, you must also carefully consider the type of broker you seek to represent you in a real estate deal. The misconception is that only sellers use professional representation. Tenant Representation and Buyer Agency firms prove that this is simply not true for we exclusively represent the interests of the tenants and buyers.
In case you’re not yet convinced of the importance of representation in a real estate deal, let’s take a closer look at 4 reasons why you need tenant representation/buyer agency to ensure fair and favorable results.
1. Unbiased Advice
Serving only the interests of our clients – who are all tenants/buyers – allows us to offer unbiased advice and up-to-the-minute market information tailored to what they need to know as well as to aggressively represent them in negotiations. We view every scenario through the eyes of the tenant/buyer and advise them on the options that will best serve their unique needs.
2. One-Sided Representation
It is our steadfast policy to 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 our loyalties lie solely with our tenant/buyer clients. One of the most valuable aspects of working with an exclusive Tenant Representation and Buyer Agency firm is the peace of mind knowing you are always their top priority.
3. The Benefit of Specialization
The general perception among businesses has been “a broker is a broker,” with little notice of a broker’s specialization and how it might impact the business’ negotiations for office space. Exclusive Tenant Representation and Buyer Agency firms, like Omni, specialize in representing the needs of the tenant/buyer only. We know how to structure deals and negotiate in your favor to achieve the most desirable outcome.
4. No Cost To You
Best of all, tenant/buyer brokers are not paid for by the new tenant/buyer; instead, the broker is paid his or her commission by the landlord/owner (99.9% of the time). The commission fee is negotiated with the landlord/owner and the listing agent before they start marketing the property, and that fee is usually paid regardless of whether or not you have a tenant representative/buyer agent (bigger commission for them). The landlord/owner and leasing agent may not recommend hiring a broker for this reason along with knowing that an experienced tenant rep/buyer agent broker will make them “sharpen their pencils.”
Take special note: If the listing agent insists it is not necessary to hire a tenant/buyer broker, you can be certain that move would only be in their best interest. You always want someone representing your best interests during this complicated process – especially if it is no expense to you!
Why have you chosen or not chosen to use tenant representation in the past? Do any of these points compel you to think differently in the future? Join the conversation by commenting below!