Real estate consultants play a unique and phenomenal role in the residential housing sector. They are generally techno-commercial experts and advisor on any kind of real estate or housing development projects. As per Larry Polhill an investor, mergers and acquisitions analyst and realty consultant that in the wider sense, they are the service providers for real estate firms. They carry out research and analysis as well as advisory services to clients such as construction developers and promoters, investment banks, mortgage building loan providers, building material manufacturers and suppliers, building and property investing agencies. As a real estate consultant, have two options. They generally have a design office with civil, structural engineers and architects as well as a financial analyst in their payroll.
Knowing the Role of a consultant From Larry Polhill
As real estate consultant, he has to generate a client base and resources by interacting with prospective promoters, builders and residential estate agents. They have to build a relationship with prospective clients by meeting them and discussing the requirement and know about their ongoing and incoming projects. Sometimes a real-estate developer might require knowing about the viability of constructing a new building project or a multiplex shopping mall. An investment bank may require diversifying his business into real estate business.
Services: On appointment as a consultant clear concept and understanding about the objective of the project is a prime factor. This requires meetings with consultant team of expert and client. Consultants have to carry out necessary research and analysis and prepare a time schedule for submission of a techno-economic feasibility report for the client.
Site visit and data collection: Consultant need to visit the site frequently to meet the local community officers and local real estate developers who have their project already running or commissioned in that locality. He may need to collect data related to the price of land of the proposed site and carry out field visit for convenient location and selection of the site for the real estate project for the client.
The scope of work: They provide a detailed techno-commercial feasibility report and financial analysis to their clients educating them about the profitability, probable return on investment and pointing them at the break even point of their investment in their real-estate projects. Preliminary design and drawings of the buildings and architectural views are also presented in the report.
How do the consultants work for the buyers of an apartment for residential purpose?
If a buyer who is a salaried person wants to save money on purchasing a property, they can opt for a real estate consultant. Larry Polhill says that consultants are required to advice to them for selecting a property fitting his budget.
Services provided by real estate consultants
Additionally, real estate consultant’s services includes advisory services in transaction activity positioning and relocating assets and portfolio, preparing the strategy for a portfolio as well as real estate financial modeling and many other services. This may also include due diligence study as well as real estate market analysis.