Okay, so you're looking to purchase some commercial real estate. Because commercial real estate agents have not really embraced the MLS® system in our locality (Edmonton, Alberta, Canada) and many other locales, it is a tough process including searching endless company web sites and driving around the neighborhood. If you've ever searched for a residential property before, you know how much easier it is than searching for commercial real estate. Searching for a commercial property can be a monumental consumer of your time.

All right, so you're driving around looking at commercial properties or you're visiting the many companys' web sites and you find several properties of interest. The big question; do you call the listing agent? Well, no surprise, most people do. I mean, it's the easiest thing to do, and nobody wants to make their life more complicated or tedious than it already is. So we, as commercial real estate agents, have succeeded in making your lives more complicated and you acqiuesce. Obediently, you pick up the phone and call 15 agents on 15 properties. Ah life would be so much easier if commercial real estate agents just embraced the MLS® like residential REALTORS® have.

Well, your life can and should be that much easier.

You can work with one agent as your Buyer's Agent, and maybe you should. Let's look at some of the considerations.

EASE

If you have one agent working for you, he will make all those calls for you and will do all the driving around. If he works in that area, (always go for agents who specialize) he will already know of most of the good listings, including some information you might never find out yourself.

PROTECTION

This is probably the big one. In Alberta, the law requires real estate agents to disclose to you in writing when they are entering a dual agency situation and to get your timely, informed approval. Dual agency is when an agent works for both seller and buyer in the same transaction. The courts call this divided loyalty, meaning of course they have to serve two masters. It doesn't mean they can't do just as good a job as a sole agent working just for you, but it is much more difficult. How does one person get the seller the highest price and the buyer the lowest price? How does one person put conditions in a deal to protect the buyer, while getting the most solid deal for the seller at the same time? How does one person handle delicate information that may harm one party or complicate the transaction? It is much tougher and dual agency has strict rules for dealing with these situations, but no surprise, dual agency is a major source of concern and law suits.

Having one agent working for the seller and one working for the buyer has none of the conflicts of interest that arise in a dual agency situation.

MONEY

As a buyer, having your own agent rarely costs you any more. Most professional real estate agents in Alberta share commission with other agents (some don't so choose wisely) who bring a buyer along (If you're thinking of listing your property with a commercial agent, ask them about this before you list with them, and ask them what steps they take in their marketing process to make other agents aware of your listing - the more buyers, the more money for you usually). In fact, by having your own agent, you are likely to get a better deal and get better protection from unforeseen circumstances.

So the next time you're thinking of buying commercial real estate, think of choosing an agent to work for you, just like you do when you're selling.

PLEASE NOTE: These are only general comments. Every situation is different and you should always interview people you are considering doing business with to determine who best meets your needs.