In commercial real estate, the interests of landlords and tenants are not always aligned. A tenant representation broker(often shortened to “tenant rep”) works exclusively on behalf of the tenant or buyer, rather than the landlord or property owner. Understanding this distinction is important for companies making long-term real estate commitments.
What Is a Tenant Representation Broker?
A tenant representation broker is a licensed real estate professional who focuses solely on representing the interests of the tenant, or end user of the space, in a lease or purchase transaction. Unlike traditional brokers who may represent both landlords and tenants, tenant reps avoid conflicts of interest by working only on the occupant’s side of the deal.
Key Functions of a Tenant Rep Broker
While each engagement is unique, tenant rep brokers often provide support in several core areas:
- Market Research – Analyzing availabilities, submarkets, and space alternatives.
- Financial Benchmarking – Comparing asking rents, concessions, and operating expenses across potential options.
- Lease Review Support – Highlighting business terms in coordination with legal counsel.
- Process Management – Coordinating communication between stakeholders, landlords, and third-party professionals.
Why Tenant Representation Matters
For many organizations, real estate is one of the largest expenses after payroll. The structure of a lease or purchase agreement can affect long-term costs, flexibility, and operational efficiency. Having a tenant representation broker ensures there is a dedicated professional focused exclusively on advancing the tenant’s objectives throughout the process.
The Difference from Dual Agency
In some markets, brokers represent both landlords and tenants within the same transaction (known as dual agency). A tenant rep broker removes that conflict of interest by representing only one side, creating a clear line of advocacy.
Tenant Representation Broker in Context
The role of a tenant rep broker extends beyond finding space—it provides companies with a professional advocate focused on aligning real estate with organizational priorities. For business leaders, this can mean entering negotiations with greater clarity and balance.
Disclaimer
This article is for informational purposes only. It does not provide legal, financial, or investment advice.
Written by the Keyser Editorial Team
FAQ’s: Tenant Representation Broker
Q1: What is a Tenant Representation Broker?
A tenant representation broker is a licensed professional who represents only the tenant or buyer in commercial real estate transactions, rather than the landlord.
Q2: How is a tenant rep different from a traditional broker?
Traditional brokers may represent landlords and tenants in various assignments. A tenant rep focuses exclusively on the occupant side, which helps avoid competing interests.
Q3: What do tenant reps typically handle?
Common areas include market research, comparison of financial terms, coordination with legal and technical teams, and process management across stakeholders.
Q4: Is tenant representation the same as dual agency?
No. Dual agency involves one brokerage representing both sides of a transaction. Tenant representation is designed to represent only the tenant or buyer.
