Which kind of firm fits your situation
A plain guide to the kinds of commercial brokerage in Metro Vancouver and how they work for you. No ranking, and no firm is recommended.
Do some firms work only for tenants?
Yes. Some commercial firms act only for tenants and buyers, and never for landlords. Others act for landlords, list buildings for lease, and also act for tenants in other deals. Many large firms do both, in different teams. Neither model is better for everyone. If you’re a tenant, ask how the firm handles a building where it also acts for the landlord.
What is a tenant representation agreement?
It’s a written agreement between you and a brokerage that says the brokerage will act for you in finding and negotiating space. It usually sets out how long it lasts, the area or kind of space it covers, whether it’s exclusive, and how the brokerage is paid. Read it before you sign, the same way you’d read a lease.
Can one agent act for both sides?
Generally no. In BC, dual agency, where one licensee represents both sides of the same deal, has been prohibited since June 15, 2018, with a narrow exception for remote areas. Before they provide services, a licensee has to tell you in writing whom they represent. The BC Financial Services Authority (BCFSA) has more on what to expect.
Global, Canadian or BC firm?
The directory groups firms by where they’re based, not by quality. Global firms and networks often have research teams and offices in other cities, which can help if you lease in more than one market. Canadian and BC firms can be smaller, and you may deal with the same people from start to finish. What matters most is the person who will do your deal.
Leasing, buying or selling?
- Leasing space: look for people who do tenant work in your area and property type, and ask whom they act for.
- Buying a building: ask about recent sales they’ve handled in that kind of property, and who arranges financing advice.
- Selling or leasing out your building: ask how they’ll market it, who they’ll call, and how they report back.
Next step
Use the directory to find firms with an office near you, then ask each one the same questions. How to use the directory has a short checklist.