In-house renewals - viable strategy?
For those of you work at companies that use outside brokers for new deals but do in-house renewals, how has that worked for you? Do you see the brokers working less diligently on your product compared to if you had given them new deals and renewals? Surely a broker isn't going to be happy when they bring in a tenant, and a few years later that tenant decides to renew and they don't get an opportunity to make that commission. Are you going to make enemies/get a bad rap in a market for doing this?
Just trying to figure out if this is a viable strategy to bring more things in-house/vertically integrated. I've already kind of nixed the idea of doing all leasing in-house because brokers in our new markets are just too entrenched in terms of pulse on the market, connections, access to tenants, etc.
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