Sophisticated tenants and buyers guarantee accountability by giving one broker the exclusive right to represent them. There are three basic reasons for doing this:
An exclusive broker can be objective in advising the tenant or buyer, since compensation is not dependent on making the deal on any particular property.
It signals to landlords and sellers that the tenant is professionally represented: they will have to compete with other landlords and owners for the tenant or buyer’s business.
It protects the tenant from legal entanglements that inevitably arise when multiple brokers are involved, and from the annoyance of constant solicitations from brokerage companies marketing for new clients.
Did this answer your question?