A little more industry oversight isn’t a bad thing

Do you like the idea of the federal government telling you how to run your business?  I’m usually all for laissez faire economics, but a colleague forwarded me this article and it really got me thinking.  After reading it, the first thing you might say is, “What does this have to do with commercial real estate?  It’s all about residential brokerage and encouraging fair practices through competition.”  Quite on the contrary, I’m writing about it because I believe the time has come for a similar review of the commercial real estate market.  Like the residential market, the commercial market has changed significantly in the last decade, as tenant representation becomes more common as a counter to the traditional landlord/tenant paradigm.  What previously was a commonplace practice has now become rare – tenants clearly embrace the value of having an ally well-versed in the market dynamics and space-planning strategy that they need to get the right space and the best terms for their business objectives.

The Antitrust Division of the Department of Justice has taken a step in the right direction with their new site – I hope they’ll go the extra mile and cover the commercial marketplace as well.