Why Tenants Win with Webster Realty Advisors’ Exclusive Representation Model

In today’s commercial real estate market, alignment matters more than ever. As companies navigate multi-year lease commitments, capital investments, and operational risk, the most important factor isn’t just location, it’s representation.

At Webster Realty Advisors, we represent tenants only, never landlords. That distinction might sound simple, but in an industry dominated by dual-agency brokerage firms, it’s one of the most important differentiators a tenant can have.

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The Problem with “Full-Service” Brokerage Models

The global brokerage giants love to call themselves “full-service advisors.” But when you actually examine their financial statements, a very different picture emerges:

They are financially engineered to serve landlords — not tenants.

Take CBRE’s Q3 2025 earnings report as an example:

• 55%+ of their total revenue comes from property and facilities management — services paid for entirely by building owners.

• Another 12–13% comes from leasing, and a portion of that is agency leasing, where CBRE is explicitly hired to market space, fill vacancies, and drive rents for landlords.

• Roughly 40–45% of CBRE’s leasing fees come from landlord assignments, not tenant representation.

When you add in the rest of their business lines:

• Capital markets & investment sales

• Workplace outsourcing & corporate services

• Engineering & project management

• Landlord-focused consulting and valuations

You realize that roughly 70–80% of their entire global revenue is tied directly to landlord-linked services.

And CBRE is not an outlier — JLL and Colliers follow the exact same revenue structure. Their financial health depends on institutional landlords, REITs, asset managers, private equity property owners, and major developers.

What does this mean for tenants?

It means the large firms have a built-in, unavoidable, structural conflict of interest.

They cannot — and will not — aggressively negotiate against the same landlord clients who:

• Pay them recurring management fees

• Hire them for project management and workplace outsourcing

• Retain them to sell buildings

• Control multi-market leasing pipelines

• Influence future business opportunities

So, while they may offer tenant representation as a service line, the reality is:

Tenant representation is a tiny fraction of their revenue, and an even smaller fraction of their priorities.

Their business model simply does not allow them to take a hardline stance against the landlords that fund the majority of their annual earnings.

They’re not neutral intermediaries. They’re landlord-aligned service providers who occasionally advise tenants — when it doesn’t jeopardize their real clients.

The Webster Difference: 100% Tenant-Focused

Webster Realty Advisors was founded on a single principle: Tenants deserve conflict-free advocacy.

We work exclusively for occupiers — from growth-stage companies to established institutions — ensuring that every recommendation, every negotiation, and every dollar saved is aligned solely with the tenant’s interests.

Because we never represent landlords, we can:

• Negotiate harder for aggressive rental rates and concessions

• Structure flexible terms that support future growth or contraction

• Leverage full market transparency without pressure to favor certain buildings or ownership groups

We don’t manage properties. We don’t accept landlord listing fees.

Our sole objective is to reduce occupancy costs and eliminate friction for our clients.

Data-Driven, Conflict-Free, Tenant-Centered

The latest CBRE revenue breakdown reinforces what Webster’s clients already know: The global “full-service” model is fundamentally built to prioritize property owners, not occupiers.

At Webster Realty Advisors, we’ve chosen a different path, one where our loyalty is undivided; our strategy is data-backed, and our success is measured by the value we deliver to tenants only.

The Bottom Line

In a market where square footage, timing, and cost structure can shape a company’s long-term success, tenants deserve more than representation.

They deserve loyalty, transparency, and conflict-free advocacy.

That’s the Webster Realty Advisors advantage:

✅ 100% tenant-side representation

✅ No conflicts of interest

✅ Transparent, data-driven negotiation strategy

✅ Proven results across office, lab, and industrial markets throughout Greater Boston & New England