Conflict of Interest is a lot like Art - You can't quite describe it, but you know it when you see it
Actual Examples - You Decide if the Tenant has no conflicts.
Major international real estate firm - who also owns a tenant rep company - offers a fully loaded Visa Card with $50,000 for the broker as an inducement to represent a full floor tenant (in addition to the anticipated fee).
A Developer/Landlord signs a tenant representation agreement to represent one of their own tenants in the market (and where a renewal at their present space, with their present Landlord, is an option).
Landlord and its agent offer 5% commission as an inducement to brokers to "bring in a tenant", another offers 6%.
Actual lease language: "The Broker is CB Richard Ellis acting in dual agency, representing both the Landlord and Tenant".
Actual Press statement: "Cushman Wakefield acted as Transaction Broker (meaning, represented neither party)
Tenants who knowingly permit dual agency, or decline exclusive agency, are ignoring the law that is
in their favor - called Buyer's Agency Laws. Every state has buyers
agency laws which specifically apply to tenants. To not have inviolable
representation is to have a fool for a patient.
