Good morning and welcome to Episode 47 of The LeaseSmart Commercial Real Estate Podcast, brought to you by LeaseSmart.com. Your host is Craig Melby, the founder of LeaseSmart, whose objective is to find companies the best facilities and get them the best terms, making their business more profitable and less vulnerable to future, unpredictable circumstances.
Today Craig sheds a little light on a white lie that landlords use that could cost you big money. Here’s the thing: if you are looking at a property already and you bring a leasing agent into the picture, the landlord and the landlord’s agent aren’t going to be too happy about it. Craig thinks very highly of landlords and landlords’ agents. They are good people! You have to understand though, that they are working for the owner. It’s their job to get their client the best deal. That would be in direct conflict then with getting YOU a good deal. And, by bringing your own agent in to protect your interest, you’re making their job a little harder and their cut a little smaller.
So, the little white lie is that when you bring your own agent to the party, they’ll say, “Well, that’s fine but the the price is going to go up now, now that your agent will need a commission.” Don’t fall for it! Craig has NEVER seen a price go up due to his involvement. The commission gets divided and that’s built into the deal in the first place so while the landlord’s agent will get less, you won’t be paying more. Now you know.
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