Real Estate Consultant
Definition of "Real Estate Consultant"
Want to understand exactly what is a real estate consultant?
Well, it’s hard to define a real estate consultant by its duties, because it’s very similar to that of a real estate agent. What really defines a real estate consultant and sets it apart from a real estate agent is the fact that the former can charge you for his time and expertise and through a commission, while the latter will generally only charge for the potential sale through commission.
Real Estate Consultants are professionals responsible for providing data, analysis, and advice for homebuyers, real estate companies and professionals via research aligned with their extensive experience in the housing industry. And they make themselves necessary for better understanding the market, whether you are a company in need of an unbiased point of view, or a homebuyer who’s wondering if a house should be put for sale or renovated, for instance. In both examples, notice how a real estate agent would not fit, as there could be no sale at all for him/her to profit a commission from. A real estate consultant has only one horse in the race: presenting a good research/analysis/advice for you. His/Her money is guaranteed independently from the amount of the sale or from the occurrence of a sale at all.
It’s hard to quantify all the knowledge required by a real estate consultant. A knowledge threshold is more likely to be estimated: real estate consultants should have experience and applicable and theoretical knowledge of how things generally work in the real estate industry in all levels. The more or less above this threshold, the more complete or incomplete that professional is.
Real Estate Tips:
Search through The OFFICIAL Real Estate Agent Directory®; you might find several Real Estate Consultants there!
Popular Real Estate Terms
An interim or provisional court decree, which is not final and can be reversed or amended, normally issued to direct additional proceedings prior to issuing a final decree. For example, an ...
Interest a person pays before it is actually incurred. An example is a one year's interest that a borrower agrees to pay in advance to a bank on a mortgage. This rarely occurs. ...
Percentage of rental property that is unoccupied. For example, a vacancy rate of 25% means that 25% of the rental unites are nor being used. Idle space can cause a significant cash drain ...
Typically, the legal term attachment refers to seizing a person’s property, being charged with debt, and giving it to the wronged creditor until the process is in motion. Attachment ...
Latin term meaning let the buyer beware. The buyer purchases at his or her risk, in the absence of fraud. This does not obligate the seller to volunteer information. However, legal statutes ...
Uncertainties associated with real property including lack of insurance coverage in the event of fire or injury, high crime area, and environmental problems. This risk may be reduced ...
Provision in a loan agreement where a debtor authorizes a judgment against him in the event of a default. These agreements are widely restricted, but when they are lawful, the creditor is ...
Rule stating that the monthly mortgage payment, property taxes, and insurance should not exceed 25% of a family's monthly gross income, or about 35% for a Federal Housing Administration ...
A correlation defines how two variables relate to one another. We can confirm a correlation if an alteration in one variable can change the other’s behavior. Using quantifiable data ...
Have a question or comment?
We're here to help.