WASHINGTON, DC—Full-service brokerages, to state the obvious, represent landlords and tenants along with offering a wide array of other services. It is almost inevitable — especially now as consolidation continues to narrow this space — that a tenant represented by a full service brokerage firm will be shown a building whose landlord is also a client of the firm. It is also almost inevitable that the tenant will assume that the brokerage company has controls and policies in place to manage that conflict of interest.

And why not? That has been the governing narrative in the industry—interrupted only by tenant-only firms that are quick to tell clients that their interests would be best represented by a company that won’t be tempted to favor their more lucrative landlord clients.

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