Learn more about what it costs to hire a broker to sell your property. The brokerage contract must explicitly state that the tenant is responsible for the entire negotiation process, with the broker only participating in all stages of the negotiations and providing the services discussed above. The broker is an expert in the real estate market, must know the available space and participate in all phases of the negotiations, but only as approved by the tenant. The brokerage contract must specify that the broker is an independent entity and not an agent of the lessee. The negotiation of the brokerage contract begins after the tenant has identified the broker and decided to hire him. The broker, who usually creates the first draft of the brokerage contract, usually provides a list of the services they offer to the tenant…