Represent both Parties?

Can the same lawyer represent both parties? Imagine you are in a courtroom.  As the defendant, your attorney is working hard to keep you out of jail.  As your attorney’s opening arguments wind down, the prosecuting attorney begins his case.  Wait a minute; the prosecuting attorney is the SAME attorney as the one you hired!  Who is the attorney actually working for?  Is the attorney using the information he has learned for your benefit, or against you?  The attorney would have an incredibly hard time staying impartial.  Having two clients in the same transaction creates a conflict of interest.  So why does this happen in commercial real estate?

There are two types of brokers in commercial real estate.  The landlord broker has the responsibility to secure the tenant in the space at the highest possible price.  Like the attorney used in the example above, the landlord broker may also represent the tenant.  This creates a conflict of interest.  If you wouldn’t want an attorney working for both sides, would you want a landlord broker working for both sides?

The tenant broker only represents you (the tenant) and is typically known as the tenant representative.  The tenant representative has the responsibility to get you into that same building at the best possible price to you.  Just as the landlord has a representative, you need a professional working exclusively for you.

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