Agent not taking deal I want to sublease my warehouse
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[{"id": "e4d0mcc", "text": "I\u2019ll help, open book. No punch held back.\n\nDid he get a mandate letter with the potential Sub-Tenant? He should still have a fiduciary duty to you regardless, via a listing agreement. Meaning, he should do what you ask him to do. If you don\u2019t want him to renegotiate term with head Landlord then he shouldn\u2019t. \n\nHowever you should at least listen, if he can get you off the hook and do a direct deal with head landlord. Always do that, always. That discussion needs to happen, it\u2019s in your best interest.\n\nCutting his fee was probably not the best idea, it\u2019s small in comparison to you overall recovery. \nAlso if your market is hot, subject to your lease. You should be able to get above asking to cover the fees. \n\nAlso he is right you would absolutely need to pay a second fee typically if they were represented.\n\nHappy to keep the chat going if you want to do so.", "replies": [{"id": "e4d2bns", "text": "Thank you for the advice.\n\nI don't want to screw him by any means but I have limited time and my rent per month is double his commission. If this negotiation takes more time I lose money with no benefit to me.\n\nI can tell him I need to be off the lease and no fee to me, but that is not my top priority. My priority is to stop paying rent.\n\nI could give him a timeline maybe?", "replies": [], "depth": 2}], "depth": 1}, {"id": "e4d61uo", "text": "Wait. I never said screw him, don\u2019t. The amount you pay him for commission is nominal compared to the total recovery you will receive. You really should use the professional, he should protect you on much more then just rent.\n\nWhat you should do is ask your agent to speak to the Landlord directly and see if the head landlord would terminate your lease, conditional on the sub-tenant doing a transaction directly.\n\nI feel like your focus on speed is a tad unreasonable. These things take time. But if you get off lease, that would be a much better situation. No risk, no management of being a sub-landlord.\n\nAgain if you Landlord doesn\u2019t agree, lock up the sublease quickly.", "replies": [], "depth": 1}, {"id": "e4e8aa5", "text": "(1) report your agent to your your States real estate board. He has a fiduciary obligation to you that he does not seem to be honoring. (2) negotiate the lease direct with the sub tenant. You seem like a capable person and can hire a real estate attorney. Your agent isn\u2019t representing you. He/she is working for a larger fee in their own best interest. Tell them to fuck off and perhaps give them a \u201creferral fee\u201d if that. (3) what does your agreement with the broker say? It sounds like you found this tenant. Not them. Firing them and doing this yourself shouldn\u2019t be an issue as you found this group and not them.", "replies": [], "depth": 1}]