The Real Game-Changer – Exclusive Licensed Real Estate Broker Representation – AT NO COST
By federal law, any tenant is entitled to receive equal tenant broker representation in a real estate transaction involving a Landlord’s broker. It must be a written designation and is referred to as an appointment letter. This legislation was enacted for Consumer Protection – We Call it Dental Tenant Protection.
Written appointment establishes the obligations of the tenant broker, as well as the tenant. It guarantees the elimination of conflicts of interests and holds the appointed broker to the highest level of fiduciary responsibility and loyalty to the dental tenant. Appointing an exclusive licensed real estate broker, in writing, is real game-changer to dental tenants because of the elevated level of business risk taken on by the practitioner in opening and operating a practice.
We like to refer to the exclusive appointment as establishing a leak-proof barrier around the real estate portion of a practice that entitles the dental tenant to exercise all of the maximum rights and receive all of the maximum protections that are available in an expertly-negotiated airtight lease agreement.
There are perceived ambiguities regarding real estate broker representation. It is vital that the dental understand the entitled rights and protections that are forfeited without exclusive and appointed tenant broker representation:
Without written, exclusive broker representation any and all real estate brokers the tenant comes in contact with must work for the benefit of the Landlord. WHY? These undesignated brokers, by law…READ MORE..