| In This Issue
THE 10 TENANT REP CODE OF ETHICS
THIS WEEKS RESOURCE
FREQUENTLY ASKED QUESTIONS
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Greetings!
Welcome to the "Tenant Rep Times". You are receiving this edition of my eNewsletter because you rent or own commercial office space and are either my client or a potential client. I trust you will enjoy this issue and get a "gem" or two out of it.
Your email address will only be used to communicate with you and will NEVER be sold, shared, rented or otherwise provided to other entities.
Thank you for taking the time to spend a few minutes with me.
Sincerely,
Mark D. Rauch
Senior Vice President
Travers Realty Corporation
Direct: 213-430-2469
Mobile: 818-943-2959
License # 01019455
markrauch@traversrealty.com
http://www.linkedin.com/in/markrauch
http://www.twitter.com/IRepTheTenant
http://www.tenantreptimes.wordpress.com |
The 10 Tenant Rep Code Of Ethics
Presented By Mark Rauch
Only represent the fiduciary interests of Tenants. NEVER represent the interests of Landlords, Developers or their underlying Lenders. (A theoretically "distinct," "independent," or "autonomous" "tenant representation division" of a full-service real estate company is unacceptable. Zero tolerance.
Never offer any incentives to any party to secure Tenant Representation, and strictly avoid even the appearance of compromising the interests of any tenant in connection with seeking new tenant representation assignments.
Never violate the trust relationship of any tenant by attempting to sell any tenant additional, non-tenant representation services such as architectural, construction management, furniture acquisition, etc. (Any assistance provided to a tenant in these areas should be gratuitous.)
Never engage in any conduct under any circumstances which is even arguably unethical or illegal and, never represent a tenant which does not adhere to these same absolute and immutable standards. If you are not sure whether something is unethical or illegal, it probably is, so do not do it. No wavering.
Do not think or act merely in transactional terms, but rather in a relationship-based manner. Treat every tenant in the same way as clients of fine, ethical law firms are treated. ALWAYS protect the tenant's interests, regardless of whether or not a leasing assignment is then currently underway.
Specifically, retain and protect each tenant's proprietary information in absolute confidence. (This means avoiding the temptation of giving interviews or obtaining other self-serving publicity at the expense of releasing sensitive tenant data.)
Always place the interests of the tenant above your own, e.g., if there is a difficult subleasing assignment in a location where someone else is more suited, recommend to the tenant that a superior alternative is available, and guide the tenant through the process without additional fees.
Never seek or accept the authority to commit the tenant to any transaction. The proper modus operandi is advice rather than authority. When in doubt, over-communicate and over-disclose. There is no substitute for absolute trust, which if lost can NEVER be recovered.
Never solicit or accept any commissions or other fees that are either above or below the then-existing market rates, and disclose all commissions to the client. The commission should be your last thought (if that), not you're first.
Finally, ALWAYS, ALWAYS, give 100% effort to continually protect and enhance the client's interests with integrity, intelligence, intuition, inventiveness, ingenuity, and intensity.
NEVER GIVE UP. |
This Weeks Resource
The Top 10 Traits of Highly Successful People By: Dr Philip E. Humbert
1. They work hard! Yes, they play hard, too!
2. They are incredibly curious and eager to learn.
3. They network extraordinarily well.
4. They work on themselves and never quit!
5. They are extraordinarily creative.
6. They are self-reliant and take responsibility.
7. They are usually relaxed and keep their sense of perspective.
8. Extremely successful people have a gift for living in the present moment.
9. Living in the present gives them a unique ability to 'look over the horizon' and see the future.
10.Repeatedly successful people respond instantly! |
| Frequently Asked Questions
Question: Mark, is finding a space without hiring a broker a good idea?
Answer: Generally speaking, the answer is no. You as the tenant enter into a lease once every so often. A broker negotiates for space on a daily basis. Would you go into an IRS audit without having your CPA by your side? Same reasoning applies here. | |
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My focused speciality is solely driven to advocate the office space interests of Southern California-based corporations and professional services firms in leasing and purchasing negotiations of all types-renewals, relocations, renegotiations, recasting, subleasing, terminations and investments on a local, regional, national and international basis through a network of offices in 200+ markets around the world.
Assignments range from single office lease transactions to national and multi-national real estate portfolios.
It is my sincere desire to develop meaningful, long term relationships as your trusted Tenant Rep Consultant and friend.
Regards,
Mark
Mark David Rauch
Senior Vice President
License # 01019455
550 South Hope Street, Suite 2600
Los Angeles, CA 90071
Direct: 213-430-2469
Mobile: 818-943-2959
markrauch@traversrealty.com
http://www.linkedin.com/in/markrauch
http://www.twitter.com/IRepTheTenant
http://www.tenantreptimes.wordpress.com |
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