Tenant Rep Loyalty: Priceless and Entitled by Law

As a tenant representative for small to mid-sized businesses, I find that business owners are very wary of taking advantage of Illinois State Law that entitles them to a Buyer Agency Agreement. Essentially, this agreement stipulates the activities and responsibilities the business owner should expect from the broker in finding the appropriate property for purchase or rent. Furthermore, typically there is no charge associated with this agreement, as the buyer's broker is paid a co-operating commission from the seller's broker.

So why is there a hiccup? I find business owners are hesitant to work exclusively with one broker. However, that does not perpetuate good customer service, let alone loyalty.

Good real estate brokers are hard to find. But when you do, it's not about the deal closing today or in 60 days. It's about building a realtionship that understands the business owners needs, so that the appropriate space is found at the appropriate time.