Exclusive Mandates in commercial leasing frequently fall into one of the following two categories:
- Consulting and Sales and Leasing Mandates for properties:
Here the landlord commissions a Real Estate Broker or Consultancy Company (in exceptional cases, several) to coordinate sales and leasing activities for their property. This agreement also governs cooperation with other external consultants or agents. If a prospective tenant has selected and commissioned their own consultant, then that consultant can also access these properties for their client in cooperation with the agent responsible for the property. In such cases, both parties are advised by their respective representatives. This has been common practice for many years on Anglo-Saxon markets.
- Consulting mandates for clients:
In this case, the consultant represents the tenant’s interests. Tenants mandate their consultants or agents to give them access to all options available on the market. The comprehensive spectrum of services to be provided to the client is specified in a written instruction for consulting services (scouting out the market, comparing options, assisting in contract negotiations in regards to financial terms, preparing development plans, comparing property data and making recommendations). The consultant is the sole representative of the tenant for the period of the mandate.