Real estate consultants and realtors are not similar as they conduct very different set of functions for the real estate market, however, their responsibilities might overlap at times.
For example a consultant generally advises clients on building or investment activities in the market. A realtor helps clients buy or sell properties. Consequently, both the professions typically require a real estate agent or broker’s license.
Potential investors and buyers buying commercial or residential property have, worked with a real estate agent. Therefore most of us are aware of real estate agents duties. They play a significant role in representing the discerning buyer giving relevant real estate solutions during the process of buying or selling a property, from the early stages through the closing date.
Duties of Real Estate Consulting Company
Real estate development consulting firms provide research, analysis and advising services to clients such as construction developers, investment banks, mortgage lenders, materials producers, builders and property investors. Some consultants provide services to many types of business or investors, while others specialize in a particular type of client. A real estate advisory service can be an established firm or a startup that provides services for your own business.
What is a Consultant’s Role
A consultant enables you to commence your dealings with your new acquisition by objectively carried out meetings and discussions. In case you need to develop a property you must learn about the viable parameters that will be conducive towards the investment. Or if it is an establishment such as an investment bank it might want to diversify into real estate investments it will need the expertise on a consultant. Thus, a consultant learns about the client’s objectives, and prepares necessary research tools and sets out a schedule to perform and report on research. For the property developer, your research may involve site-based visits, meetings with community officials and local real estate professionals, as well as secondary research compiling data that provide direction on broader trends in regional property development.
When working with realtors, one must recognize that they work on commission. Most realty agents are inclined towards garnering maximum potential commission from any given sale. While real estate strategy consulting’s work on an hourly or flat fee basis, thus there is more honesty in their recommendations and have an unbiased approach. Time is money and both parties value this irreplaceable commodity immensely thus consultant and client, don’t invest in an unpromising prospect, which saves both time and money
Thorough Evaluation of Your Situation
Clearly a real estate agent has a singular objective of helping the client buy or sell a property. However, a real estate consultant’s objectives can vary greatly depending on your specific situation. For example, you may hire a real estate consultant for an unbiased expert opinion on whether or not a real estate investment is a sound financial decision.
Clear Determination of Objectives
The real estate consultant, using his wisdom may want to determine your input, and your primary and secondary objectives related to the purchase. However a real estate agent only is vested with buying or selling of the property. However, consulting is more evolved and inclusive towards the consumer’s unique objectives. The consultant’s job is to determine the best approach to achieve your objectives in a cost-effective and timely manner.
Real estate consultants can give you valuable insight on the value of an intended purchase, as well as the value and stability of the local housing market. A real estate consultant can give you a more complete picture to base your decisions upon than a real estate agent alone.
People use the terms Realtor and real estate consultants interchangeably, but they aren’t the same thing. Both do provide real estate solutions but within the capacity of their roles. Their responsibilities and their role in your purchase set an important distinction in their definitions. The above mentioned functionalities might help you to choose which facilitator do your exactly need.