10 Must-Ask Questions to Find the Perfect Broker for Your Commercial Space

Finding the right commercial real estate broker is critical to navigating the complex and often tricky world of leasing or buying commercial space. Not all brokers are the same, and many represent both landlords and tenants—known as “dual agency.” While dual agency is legal, it can create conflicts of interest, often favoring landlords, who provide more consistent business over time.

Commercial real estate is a "buyer beware" industry, so it’s vital to choose a broker you trust. Your broker should understand your needs, have expertise in your market, and work with companies like yours. Here are nine key questions to help you evaluate and select the best broker for your business:

Questions to Ask a Broker

1. Does your firm work with landlords or invest in commercial real estate?
   Ask if they list properties for landlords, provide management services, or have investments in commercial real estate.
2. How do you handle conflicts of interest?
   If they work with landlords, ask how they manage confidentiality, fiduciary responsibilities, and compensation to avoid bias.
3. What is your experience representing tenants like us?
   Find out how many similar transactions they’ve handled in the past year and ask for specific client examples.
4. How do you help define our space and leasing needs?
   Request details on the services they provide to identify your space requirements.
5. Can you show examples of your past work?
   Look for samples of work they’ve done for companies similar to yours in size and industry.
6. What financial analysis do you offer?
   Ask about the level of financial insights they provide, who prepares them, and the qualifications of that person.
7. Do you offer services beyond brokerage?
   If they provide project or construction management, find out who handles it and their experience level. Avoid brokers who only refer you to third parties.
8. What resources and team support do you bring?
   Learn about their team, their qualifications, and how they collaborate to meet your needs.
9. Can you provide tenant references?
   Ask for references from tenants who have worked with them multiple times. This indicates a broker who builds long-term relationships.
10. How do you stay up-to-date on market trends and opportunities?This question helps you evaluate whether your broker actively tracks market dynamics, such as rental rates, new developments, and tenant incentives. A knowledgeable broker can provide valuable insights and negotiate the best deal for your business

By asking these questions, you’ll ensure you find a broker who prioritizes your needs, has relevant expertise, and offers the support needed for a smooth and successful transaction.