If you want to buy a home, you’ll likely need a real estate agent to help you close the deal. However, a real estate agent’s job is to help you buy the property you desire; they don’t necessarily provide investment advice, nor do they need to think about how the transaction could affect your future.
So, if your real estate agent doesn’t provide professional investment advice, who can you rely on? Certified Distressed Property Expert and Investor Specialist Omid Akale at Twin Cities Portfolio Group explains the role of a real estate investment consultant and why working with one can be a smart move, by answering the following frequently asked questions.
What Is a Real Estate Investment Consultant?
If you come across an investment opportunity, you may be tempted to make an offer quickly to prevent other potential buyers from securing it first. The problem is: not all seemingly desirable properties are a sound investment – something many house hunters discover too late.
A lender that benefits from giving you a mortgage or loan might not be the best person to depend on for impartial advice. A real estate investment consultant provides specialized investment advice to help you buy or invest in property. They derive their income from delivering advice rather than helping you close a sale, which means making sure you spend your money wisely is in their best interests.
What Services Do Real Estate Consultants Offer?
In addition to providing real estate investment advice, a real estate agent may offer:
- Market analysis/modelling
- Asset management
- Lease management
- Client consulting
Due to their skillset, real estate consultants often work for business owners, investment firms, construction companies, and third-party investors.
What’s the Role of a Real Estate Investment Consultant?
Ultimately, your consultant’s responsibility is to provide an impartial and objective opinion on whether a transaction or investment is a sound financial decision. They first take the time to understand your unique goals. Once established, your consultant will perform in-depth research to help you achieve them in the most cost-effective and timely manner possible.
What Are the Benefits of Hiring a Real Estate Consultant?
Because purchasing a home requires a substantial investment, many investors overlook the services of a real estate consultant. However, consultants can help you save a small fortune in the long run by:
- Providing expert investment advice
- Analyzing the market, sales trends, and risks
- Assessing your current and potential future needs
- Ensuring properties are listed for a reasonable price
- Helping you buy a suitable property efficiently