Transaction Agency Question
California broker here. I am sure many other brokers here have been in similar situations so I’d appreciate any feedback or advice...
- I am the landlord rep at a building
- I have been working with a potential tenant for the space for a while
- I have provided the tenant a reasonable amount of guidance and information regarding the property and potential deal with the intent to have them lease the space
- One day, another broker contacted me stating that the potential tenant I have been working with is their client
- Now, there is a conflict about to represents who.
How would you handle this?
Who should rep the tenant?
If the tenant rep is the broker that just surfaced, are they entitled to a commission given the circumstances?
You're definitely the procuring broker. But it's also hard to tell someone who can or cannot represent them. I think you need to have a difficult but necessary conversation with the tenant. Tell them what's going on how this works.
Whoever controls the client wins that commission.
I definitely agree that I am procuring broker. How do you suppose this situation should be explained to the Landlord? It’s important that they understand my position.
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