Agency
In Rhode Island, what is 'tenant representation' in commercial real estate?
AA property manager representing tenants in court
BA licensed real estate professional who represents commercial tenants in finding space, negotiating leases, and advising on lease terms✓ Correct
CA government service for residential tenants
DAn attorney who handles commercial lease disputes
Explanation
Tenant representation (tenant rep) involves a licensed commercial real estate professional who represents the interests of a business seeking to lease commercial space, helping them find suitable locations and negotiate favorable lease terms.
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Key Terms to Know
Buyer's Agent
A real estate licensee who represents the buyer's interests in a transaction, owing fiduciary duties to the buyer.
Seller's Agent (Listing Agent)A real estate licensee who represents the seller's interests, markets the property, and owes fiduciary duties to the seller.
AgencyA legal relationship in which a licensee (agent) acts on behalf of a principal (buyer or seller) in a real estate transaction.
Dual AgencyA situation where a single real estate agent or brokerage represents both the buyer and the seller in the same transaction.
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