Lawyer Article
What Companies Should Look for in A Real Estate Broker
October 27, 2011
Finding the right real estate broker is perhaps the most important step in ensuring that a corporate relocation is as successful and stress-free as possible. But what do companies need to know when hiring a broker?
Womble Carlyle commercial real estate attorney Pam Rothenberg addresses this topic in an article titled, “If You Were the Client Instead of the Broker, What Would You Want to Know?” The article appears in the current issue of the Washington Metropolitan Area Corporate Counsel Association (WMACCA) Newsletter. Rothenberg co-wrote the article with Scott Hoffman, Senior Director at the Washington, D.C. office of Cushman & Wakefield, Inc.
The article answers such key questions as:
- If you were new to the process of leasing office space or purchasing an office building, what threshold information would you seek to elicit from a prospective broker for your transaction?
- Many brokers work in teams. What are the considerations that you would want to evaluate in connection with a brokerage team dynamic?
- Is geography important when you are interviewing a broker?
- What are the specific aspects of the prospective broker’s prior experience on which you would focus?
- What other skills or knowledge should a broker possess that will demonstrate his/her ability to be the most effective advocate for you during your transaction?
- How should a prospective client view a broker’s role in a transaction and what should be the broker’s priorities?
- Are there any written materials that a broker should present to a prospective client that would help demonstrate his/her competence?
- Any final thoughts on the indicators that you would look for to identify a “very good broker?”
This document is intended as an informational reminder and does not constitute legal advice. If you have any questions or would like to discuss a particular situation, please contact Womble Carlyle Sandridge & Rice, LLP. The purpose of this article is to provide general information about significant legal developments and should not be construed as legal advice on any specific facts and circumstances.