Form-of-the-Week:

Exclusive Authorization to Locate Space, and User Lease Worksheet — Form 111 and 555

Various written fee agreements

A leasing agent’s opportunities, taken as early and often as possible, to enter into a fee agreement signed by either the user or the owner arise on at least four occasions during leasing negotiations:

  • when the leasing agent solicits an owner for authorization to represent the owner to locate users and negotiate acceptable leasing arrangements [See RPI Form 110];
  • when the leasing agent solicits (or is solicited by) a user for authorization to represent the user to locate suitable space and negotiate leasing arrangements acceptable to the user [See RPI Form 111];
  • when the leasing agent prepares a user’s offer to lease to be signed by the user which includes a fee provision [See RPI Form 556 §16]; and
  • when the leasing agent prepares the lease agreement on terms agreed to by the owner and the user which includes a fee provision.

Employment agreements with a user
Exclusive authorization ensures collection of a fee
Benefits of exclusive authorization
Learning your client’s need for space
Using a tenant lease worksheet
Locating new space
Establishing the user’s business projections