Wednesday, May 27, 2015

Commercial Buyer Brokerage in Connecticut

At a meeting last week, I once again had a commercial agent from another company confidently tell me that buyer brokerage does not apply to commercial real estate.  Although there are real differences between residential and commercial, that law is not one of them.  It may be more difficult to get a regional manager without significant authority to sign a buyer broker agreement, but the law still requires the discussion, even though we might have to settle for having an unrepresented buyer form, or a BBA that only covers one specific property. 

Commercial real estate sometimes gets overshadowed by the sheer volume of residential transactions, and there definitely should be differences in laws and regulations, but it's still a work in progress.  For now, don't be surprised if your commercial agent asks for a signature before showing property, in much the same way that your doctor has you sign a HIPAA form before seeing you (even if you can't remember signing, or don't bother to read the form).  And please, don't shoot the messenger!  Call your state senator or representative instead!

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