The Real Game Changer – No Cost Exclusive Licensed Real Estate Broker Representation
By federal law, any tenant is entitled to receive equal tenant broker representation in a real estate transaction involving a Landlord’s broker. The representation 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 often 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 tenant 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 are required to report all pertinent information the unrepresented tenant divulges to the Landlord’s broker and are only representing the Landlord’s best interest. The unrepresented dental tenant who waives his/her entitled right to exclusive brokerage representation is placed in a very perilous and costly disadvantage.
Without a written broker appointment letter, you have no representation, with no one to watch your back. There are no tenant confidences or protections. Don’t forfeit the rights you’re entitled to by choosing not to appoint a designated tenant broker in writing.
Understand your options and the connected consequences about real estate tenant broker representation. It’s about risk versus protection.
Appoint Dental Real Estate Experts as your exclusive Broker and trust us to deliver a seamless, dollar-saving, dental-protective lease from start to finish – from securing your dream location, through our market savvy Letter of Intent Negotiation to preserve your cash, and finally – to sign a lease that is the operative business framework for maximum protection from your business risks, now and for many years to come.