Although building owners initiate transactions with brokers they retain, it’s important to understand owners also hire lawyers who are commercial real estate specialists. These—highly paid, highly specialized lawyers—ultimately shape the final deal terms for the owner. These lawyers focus exclusively on commercial real estate transactions. Consequently, they are contract surgeons. They go through a contract with a scalpel—dissecting, reshaping, and subtly manipulating the contract language in ways often undetectable to the untrained eye. The result: advantage owner.
When it comes to contract drafting, many corporations make two miscalculations. First, they overestimate their broker’s ability—a person without any formal training in contract drafting—to draft business terms with the precision required to properly protect their interests. Second, they overestimate their in-house legal department’s ability identify subtle contract manipulation by the owner’s lawyers. Corporate in-house lawyers, often experienced in employment law, lack the cumulative knowledge a concentrated focus in commercial real estate provides. Consequently, they are not equipped to successfully counter the nuanced language of commercial real estate contract specialists.
We help you level the playing field because we are commercial real estate lawyers. As a result, we review the same cases, attend the same drafting seminars, and read the same drafting books as the owner’s contract specialists. Although we will solely act as your broker and not as your lawyer, we will provide you and your internal legal team with a contract assessment. This assessment will unmask any clever contract language designed to subtly shift more risk onto you, and offers suggested terms that will protect your firm or client’s financial interests. Ultimately, our contract due diligence will serve as your second set of eyes.