REASONS WHY YOU SHOULD ENTER INTO EXCLUSIVE REPRESENTATION
AGREEMENT WITH YOUR REAL ESTATE BROKER
Only one contact person. You do not have to call several real estate people to find the property to meet your criteria, thus saving you time.
Confidentiality. You do not have to tell several real estate brokers (who are representing their seller/lessor) your name or store name, thereby keeping your name from becoming common knowledge that you are in the market.
Needs Analysis. Your exclusive representation broker will work closely with you to define current and future space needs accurately - amount of space, kind of space, location, necessary amenities, location with respect to competitors, trade area characteristics, move date, special needs.
Survey of Entire Market. Your exclusive representation broker, through his real estate contacts, would be able to search the entire market for properties meeting your criteria. You, in order to accomplish this, would have to contact several real estate brokers or individual owners.
Evaluation. Your exclusive representation broker can sort through all of the information and submittals of available property from any market, and present to you only those meeting your criteria, thus saving you time.
Valuation. Your exclusive representation broker has the ability to find information about comparable sales/leases and is therefore able to advise you as to the market rate/price. As you know, the listing agent represents the seller and is duty bound to obtain the highest price possible. Additionally, if you or two, three or more real estate people contact an owner regarding the availability of their property, this amount of activity would probably signal to the owner that his property was more valuable than if there was only contact from one individual.
Negotiations. In those situations where the seller/lessor is represented by a real estate broker, shouldn’t you as the buyer/lessee also be represented by a real estate broker with a history of successful negotiation skills? In the case of a seller/lessor who is not represented by a real estate broker, your exclusive representation broker would be able to negotiate an agreement in your best interest versus your having to do face-to-face negotiations. In either case, your representative should be able to attain a negotiated rate from 5 to 15% less than the asking price/rate depending on the market conditions.