A real estate consultant basically is a professional specializing in providing investment and financial advice to clients planning to buy, sell or invest in property. While industry experts like Ali Ata would have proper knowledge of the real estate landscape, newbie investors often need a bit of an extra assistance and advice. This is where real estate consultant comes in. They provide research and analysis to the clients that explore the viability or various properties or sites. However, consultants are not involved in the sale of a property, and hence they cannot replace an agent or broker during an actual real estate transaction.
A real estate consultant may specialize in varied domains, starting from asset management and lease management to even market analysis/modeling. They tend to work with a mix of clients, which includes construction companies, business owners and investors. They even work alongside third-party investors like banks or credit unions, as well as financial lenders. The primary responsibilities of real estate consultant involves assisting their clients through the buying or selling process of a property with the aim of helping them to meet their individual goals.
During their first meeting with a client, real estate consultants will ideally talk about their core objectives and budget. As the goals and objectives have been established, the consultants can start to carry out a proper research to aid their clients in achieving their goals in a budget-friendly and timely manner. Their job is ultimately is to be an unbiased expert opinion on whether or not a real estate transaction or investment would be a smart financial decision. For example, if a certain property owner wanted to put in a 30-unit apartment building on a lot they own, it shall be the task of the real estate consultant to carry out the needed research and compile all relevant reports of their findings, and present it along with their professional insights. Their research can include site-based visits, meetings with community leaders or officials, as well as discussions with local real estate professionals.
A real estate agent simply aids their clients to buy a house because they want it. A real estate consultant would actually try to understand the goals and objectives of the clients and subsequently help them in identifying properties that can cater to their needs. Ali Ata mentions that once a particular property is selected, the consultants also help the clients in analyzing the financial stability and risk aversion linked with the investment.
A real estate consultant can often disclose information to the buyer that the agent won’t. For example, they can discuss with their clients the owner’s motivations for selling or leasing, poor transaction data, or anything else that the agent might not want to disclose. The consultant’s role is to provide as many details as possible that the client needs to make their decision, so that fewer problems occur later down the road.