How to use a commercial real estate broker?
I'm interested in purchasing my first commercial real estate property.  I met with a commercial real estate broker and he suggested a number of properties, none that I was very interested in.  I found a couple on my own (driving around and looking), who are listed by other real estate agencies.  I told my initial broker about them, and he got a little more information on them for me.

My question is, should I just directly contact the other broker listing the property?  Or is there any use to keeping my initial broker in on the deal?  Will keeping the initial broker in on the deal potentially increase any fees/transaction costs?

Just looking for some general guidance here!
[{"id": "dudndmp", "text": "Generally, as a buyer, your broker is going to be paid by the Seller (through the seller's broker). He doesn't get paid unless you complete a transaction. I may be biased, but engaging him to work as your agent is only going to benefit you. He would be looking out for your interests and should be able to help you negotiate a fair deal to justify his commission. I would avoid dealing directly to the Seller's agent. At best he'd be working as a transaction broker and would not necessarily have your best interests in mind. ", "replies": [{"id": "dudpr1i", "text": "Completely agree. Also, keep in mind that most states consider you to be an \"intelligent\" buyer so you aren't as protected as single family home buyers (etc). Having a buying agent is just going to have someone looking out for your interest. ", "replies": [], "depth": 2}], "depth": 1}, {"id": "dugyzri", "text": "If the working relationship is something that you would like to continue, then consider working with the initial broker. Utilize their knowledge and resources to help you find the exact property that meets your criteria. That is their fiduciary duty to you as the client.", "replies": [], "depth": 1}, {"id": "duhqu5i", "text": "Go with the broker. Depending on the type of property, and assuming the broker is competent, there has to be things to look out for. Cre, from my experience, is a different beast. The price point of your building might be outrageous. A lot of sellers put their cre properties on the market just to see what they can squeeze from it. Your broker should be able to navigate through the potential bullshit. \n\nDepending on type of property, your broker should be able to negotiate the price down for you. Literally everything is up for negotiation and your broker should be able to help you decide whay to push for. \n\nAlso, let's say you get screwed over something and now you need to sue. The broker will make things easier. If you go in by yourself, courts will see you as sophisticated and won't feel that bad for you.", "replies": [{"id": "duqnudu", "text": "The price point may seem outrageously first blush but it's completely dependent on expenses and cash flow. ", "replies": [{"id": "duqrhh0", "text": "I wrote that assuming that OP might not even know how to read/navigate through the numbers and getting to a reasonable valuation. ", "replies": [], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "dui9xcw", "text": "it all depends on if you consider your current broker an asset. His fee will be covered by the seller/landlord. i'm a broker and in this situation all the time....your broker would love for you to hang on to him, but only do it if he is truly helping you. ultimately i strongly recommend you find a broker that will work for you in the long term....unless you have 10 years experience working deals, find someone who does....also, relationships are everything, find someone who knows the players in the game", "replies": [], "depth": 1}, {"id": "dukuff7", "text": "Agree with all of the above, but most importantly this is a relationship based business and you will spend a lot of time over the next 3-5 months with the broker so make sure you get along with them.  \n\nIf you don\u2019t get along then find a broker you do trust and get along with.  There is major value in using a broker and it\u2019s a misconception that the price changes by using one.  \n\nYou\u2019ll get a better deal by having someone on your side who knows the market and what items to negotiate in your favor besides just sales price.  ", "replies": [], "depth": 1}, {"id": "duq2cbn", "text": "Please visit www.realatom.com. Less expensive than a broker and lenders fight for your business!", "replies": [], "depth": 1}, {"id": "dur4q2d", "text": "I will tell you a quick story that I think would help you answer your own question.  I know of a person that was inquiring to buy a commercial property. They decided to go to the listing agent directly (Sellers agent).  The sellers agent of course was happy because now he has a buyer that he can represent and seller. In other words, he will get a good commission when this deal closes.\n\nA few things took place. The sellers agent never told the buyer that there is a first right of refusal. For some reason he missed that step and didn\u2019t know himself. The buyer made all the arrangements and bought the property. A few months later, the previous owner that sold the property was served a lawsuit. Which dragged the new owner into the mix. Make a long story short. They undid everything as if it never happened. And now the person I\u2019m telling you about has 90 days to get out and move his business to another location.\n\nPersonally, I would recommend an agent. I would also do some homework on who they are and how they function. There are agents that will show your properties that are available and then there are those that will help you by calling commercial business owners that are not looking to sell... but they persuade them to do so. That\u2019s the kind of person I would personally work with. \n\nIf you are in California I would recommend three key people that can help. If you already have a person than you should be fine.\n\nHave you gone through a loan approval from the bank prior to searching? ", "replies": [{"id": "duu2c6l", "text": "Thank you for the informative story!  The deal I was looking at feel through.  It turned out to be a master lease agreement, which I'm not interested in.  Other buildings I'm interested in will require about double the down payment, so I'm going to have to save for awhile more.  Thank you everyone for the help.", "replies": [], "depth": 2}], "depth": 1}]