Commercial Broker vs Me

[Blake Andrus]

I have begun my real estate investing career with my first deal.  I'm looking to expand and my search has brought me to several commercial properties (2 quadplexes being sold as a portfolio).  I have contacted the broker on several deals and asked for rent roll and proforma.  I'm to the point where I need to see the properties myself.  Since I'm new to the commercial game, I'm asking for help on the rules.  

Should I call another brokerage and get someone to represent me at the showing?  

What are some of the differences of a commercial showing vs a real estate agent showing?  

Looking for any advice or helpful hints.

Thank you,

Blake

[Steve McGovern]

Hey, Blake: 

Congrats on your endeavors.  My take:  ALWAYS find an Agent to represent your interests, especially when new at any Asset class.   Not sure about CO regs, but in Mass., any  Broker represents a Seller/Lessor BY LAW, unless & until a Buyer/tenant explicitly asks the Broker to be his/her agent, and the broker accepts.  Until that moment, the Broker owed all loyalty to the Seller/Lessor.  Even if you called him/her he still represents the seller until you say the magic words.  

I don't know about you, but I don't want the person I found, vetted, "hired," and asked to help me look over/through/at property representing the person I'm going to have to negotiate with.  

...and that Seller's Agent you're thinking of calling by yourself? Yeah, they'll get the entire commission for "not acting like your Agent" and for owing all fiduciary duty to their client.  

If for no other reason than to act as a check/ balance, get an Agent and make sure that you say the right words so  their legal duty lies with you.  

My $0.02.