Your commercial real estate broker may ask you to sign different Agreements depending upon your circumstances. Each of these are somewhat different, yet somewhat the same to cover difference circumstances.
I am often asked by Sellers or Landlords looking for a tenant, why they should sign an Exclusive Listing Agreement.
The most important part of a listing agreement is the contract that is established between the seller and the broker. With a signed Listing in hand, the broker is obligated to make his best efforts to sell or lease the property. That can mean sending email blasts to potential clients, conducting mailings, advertising the property on various internet commercial real estate sites, and creating an offering brochure with all the pertinent information about the property.
One important element most people do not realize is that most properties are sold or leased with the assistance of third-party brokers. So, for landlords looking to lease, or for sellers, it is critical that their broker engage the entire brokerage community to help find a buyer or tenant for the property. An Exclusive Listing Agreement offers the advantage of hiring not just one, but in effect all brokers and gives the property exposure to all their clients.