Exclusive Broker Representation - Don't Overlook the "F" Word
It's all about the "F" word...
Without exclusive licensed real estate broker representation, the dentist has no one watching his/her back! It’s the extra barrier for dental tenant/buyer protection in the real estate portion of practice ownership.
DENTREXX is a licensed real estate broker. Licensing means we must adhere to the highest level of fiduciary responsibility to our client.
By a federal law enacted in 1984, any tenant is entitled to receive equal tenant broker representation in a real estate transaction involving a Landlord’s broker. It must be a written designation and is referred to as an appointment letter. This legislation was enacted for Consumer Protection – We Call it Dental Tenant/Buyer Protection.
Written appointment establishes the obligations of the tenant broker, as well as the tenant. It guarantees the elimination of conflicts of interests and holds the appointed broker to the highest level of fiduciary responsibility and loyalty to the dental tenant. Appointing an exclusive licensed real estate broker, in writing, is critical, from the very beginning of a contemplated real estate transaction due to the elevated level of business risk taken on by the practitioner in opening and operating a practice.
We like to refer to the exclusive appointment of a licensed broker as establishing a leak-proof barrier around the real estate portion of a practice that entitles the dental tenant to exercise all of the maximum rights and receive all of the maximum protections that are available in an expertly-negotiated lease agreement.
There are perceived ambiguities regarding real estate broker representation. It is vital that the dental understand the entitled rights and protections that are forfeited without exclusive and appointed tenant broker representation.
Without broker representation any and all real estate brokers the tenant comes in contact with work for the Landlord.
WHY? These undesignated brokers, by law, are required to report all pertinent information the unrepresented tenant divulges to the Landlord and are only representing the Landlord’s best interest. The unrepresented dental tenant who waives his/her entitled right to exclusive brokerage representation is placed in a very perilous and costly disadvantage.
When we started thinking about opening a practice, we asked our friends about real estate representation. Norman Gelfand got rave reviews in conversation, as well as in recommendation letters. We learned a lot in the process due to Norman’s expertise in lease negotiation about the importance of a well-negotiated dental lease and how the right terms and conditions can positively affect a practice’s profitability by minimizing risk to protect the practitioner’s capital investment. Our Landlord was a “tough cookie”. Norman’s professionalism and negotiation ability resulted in a lease that protected our interests, and was key in establishing a positive landlord-tenant relationship. It was a win-win result.
Norman not only looked at the “now” issues. He negotiated our lease by anticipating “over the horizon” issues and safeguarding against financial loss should they occur.
We unreservedly recommend Norman Gelfand and DENTREXX for your dental real estate. He exhibited a consistent attitude of protectiveness above and beyond the call of duty."
Robert Hendricks, DDS & Kristen Hendricks, DDS
Bright Smiles Dental
DENTREXX Does What Others Don't.
DENTREXX exclusively represents dental tenants and buyers in selecting strategic locations, negotiating money-saving Letters of Intent, and in negotiating business protective stipulations throughout the dental lease.
Leave the real estate portion of your dental practice to us.
FOCUS ON CASE ACCEPTANCE.
Appoint DENTREXX as Your Exclusive Broker
WARNING - Dental Tenants! Without written licensed real estate broker representation – you have NO representation – AT ALL - with NO ONE to watch your back. There are no tenant confidences or protections.
Don’t forfeit the rights you’re entitled to by choosing not to appoint a designated licensed real estate broker in writing. It can cost big money, cause sleepless nights and headaches you never knew existed!!!!!
Understand your options and the connected consequences about real estate tenant broker representation. It’s about risk versus protection. The choice is clear.
Trust DENTREXX to deliver a seamless, dollar-saving, dental-protective lease from start to finish – from securing your dream location, through the market-savvy Letter of Intent phase to preserve your cash, and finally – to sign a lease that is the operative business framework for maximum protection from your business risks – now and for many years to come. Practice owners should view their practice as a long-term investment. The real estate portion is a large part of practice ownership. Establishing business protections throughout the lease is the first step toward planning for a lucrative exit strategy, whenever that may occur.
ALL AT NO COST
You’ll be glad you did!!!!!
What dental practices don't know can cost them thousands...
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It's all about the "F" word. Without exclusive licensed real estate broker representation, the dentist has no one watching his/her back! Licensing means we must adhere to the highest level of fiduciary responsibility to our client.
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