Real Estate Consultant vs. Realtor
Real estate consultants and realtors play different roles in the housing market, though their duties and responsibilities might overlap at times. A consultant usually advises clients on building or investment activities in the market on a fee basis while a realtor helps clients buy or sell properties for a commission. Both professions typically require a real estate agent or broker’s license in their state.
Real Estate Consultant
The primary responsibilities of a Real Estate Consultant are to counsel their clients through the buying and/or selling process to meet their individual goals. During a first meeting they will likely identify and discuss in detail the Clients goals and objectives. Once that is established, the Consultant can begin to conduct the proper research that will help the Client achieve their goals in a timely and cost-effective way. Ultimately, the roll of a Consultant is to offer an unbiased expert opinion to help their Client make the right financial decision.
A real estate consultant 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.
For example, a property developer might need to learn about the viability of putting in a new strip plaza, while an investment bank may want to diversify into real estate investments. After learning of the client’s objectives, you prepare the necessary research tools and set 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
Realtors usually fall into one of two different categories — real estate listing agent or buyer’s agent — though some do both.
A listing agent helps a property seller list a home or business for sale. They enter the property in the local real estate multiple listing services and markets the property within the community. When a buyer wants to see the property, the agent informs the seller. The agent helps manage the review of offers and counteroffers and finalizes agreements on behalf of the seller. You are typically paid 5% – 6% of the final sales price…bare land can be as high as 10%.
A buyer’s agent works with clients looking to buy a home or commercial building. A primary responsibility in this role is to research properties that meet the client’s parameters, and then show the client the properties. While agents sometimes offer insights and recommendations on properties and offer prices, the buyer typically directs the preparation of an offer to buy. During negotiation you help facilitate offers and counteroffers until both parties agree to a contract.