It seems as though there are dozens of job titles peppering the real estate industry, and it’s easy to see why many don’t understand the value of a real estate consultant. However, there is a marked difference between real estate consultants and real estate agents. If you’re looking to buy exclusive real estate, you should get yourself an agent.
So, what is the difference between real estate agents and consultants? The most important is that an agent’s only intent is to sell a property; a consultant’s objective incorporates the client’s goals, such as building and investment activities within the market. A consultant is not motivated by potential financial gains received from the sale of a home. Rather, they provide research, analysis, and other information tools to help clients make the best choice for their lives or portfolio. Though the duties of agents and consultants may sometimes overlap, consultants act as advisers rather than a representative in a sale.
Real estate consulting firms provide every type of research and analysis available to clients. This could include anything from construction developers and investment bankers to materials producers and property investors. Because this type of professional deals with varied types of real estate (I.e. not simply a single residential purchase), they have the expertise you need to invest in exclusive real estate, such as water rights, commercial spaces, and manufacturing.
Consultant relationships often start with a meeting to discuss objectives. For example, a commercial developer might need to learn about the viability of creating a new shopping mall in a particular section of town. Conversely, an investment bank may be looking to diversity into real estate investments. After understanding the client’s objectives, the consultant will prepare informational tools and create a schedule to perform and report specific research. This might include site-based visits, meetings with community officials, or reading through pages of cost projections.
Real estate consultants are an invaluable tool to real estate investors. They have the capacity to understand every facet of a potential real estate transaction or development, and they can advise against making bad investments. If you want to get serious about investing in exclusive real estate, this is a person you want on your team.