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
Let’s explore the definition of attribution in practice! Attribution is when you give an individual credit and the right to perform a specific action or the quality of one particular ...
Creates a lien against the mortgagor's property, but does not permit a lien against his or her personal assets. See also non recourse. ...
A listing of all assets a person or business owns, their cost, and appraised value. A complete inventory record should be maintained including real estate. Documentation is needed in the ...
The reason a property appraisal is being made. The purpose of the appraisal is the first step in the appraisal process. The purpose of the appraisal should answer several questions: ...
Legal action of a landlord to remove a tenant.The tenant may have violated the lease agreement such as for the tenant's failure to pay the rent. ...
Descriptive of a property boundary that follows the course of a river or estuary. For example, a land description may say its boundary follows "the meander of the river" meaning the ...
Rental based on a percent of sales or profit that in addition to the constant rental amount. ...
Net amount received when property is sold. It equals the selling price less outstanding mortgage balance less all costs incurred in connection with the sale. These expenditures include ...
Another residence in addition to the main residence where a person or family resides. An example is a second home out of the city used on weekends and during vacations. Interest and real ...
Have a question or comment?
We're here to help.