A real estate consultant is an advisor and counselor, one who can clarify your available investment options, as well as provide you with research and analysis to justify your decision-making. If you are feeling cloudy about your real estate holding, it’s probably time for you to get a third party’s perspective from someone who can shed light on your situation.
Q.1. What Does a Real Estate Consultant Do?
To perform well in real estate investing, you need to get some advice from a professional real estate consultant that is highly informed in the purchase and sale of real property, mortgage finance, income analysis, market valuation, tax consequences, legality, contract terms, risk, and feasibility studies of a proposed project.
With this knowledge, a savvy consultant can provide you with skillful guidance on real estate investing to help you amass a fortune. As such, these services are always in demand.
Are you interested in buying, selling, or leasing real property? Do you need assistance in defining your real estate goals and investment plans? Whether for passive income, retirement planning, or legacy succession planning, a real estate consultant can deliver investment options and strategies that a client can rely on to achieve their financial goals.
Q.2. How Much Does a Real Estate Consultant Charge?
Fees vary according to the amount of time involved in conducting market research, crafting investment options to choose from, and outlining holding strategies based on the investors wants and needs, as well as other factors, and the level of detail that is requested. The consultant may charge an hourly rate, a flat rate for services to be rendered within the scope of the assignment, or a hybrid of the two. Additionally, if the consultant is also operating as a broker, he or she may also earn a real estate sales commission for such buying, selling, or leasing services associated with a given transaction.
Q.3. How Does One Engage a Real Estate Consultant?
The consultant-client engagement usually begins with a request for information or request for proposal (RFP). On such request, the consultant will gather enough preliminary information to assess the prospective client’s real estate needs, then draft a proposal that defines the scope of work to be performed, the costs associated with the assignment, and any appropriate disclaimers and limiting conditions. The prospective client may then request changes to the scope of work to meet their needs and objectives during the consulting process.
After some back-and-forth negotiation on terms and price, the client will sign the final engagement letter and submit a nonrefundable binder deposit (usually 50% of the fee), with the balance due on invoice and submission of the completed assignment.
Coleman Tanner | Real Estate Consulting
John W. Tanner, J.D.|M.S., is the head of our real estate brokerage and consulting practice, as well as the managing broker in Florida. He is based in Miami and oversees all Florida operations.
John has worked across three sectors of the real estate industry, including loan origination and processing, residential and commercial property valuation, and residential real estate sales. He also studied hotel development while in graduate school at Florida International University’s Chaplain School of Hospitality Management.
While attending Florida Coastal School of Law, John took courses in residential and commercial real estate law, trusts and estates planning, and business law. Through a study abroad program, John attended the Universitè Du Auvergne in Clermont-Ferrand, France, where he studied French business law and international contract negotiations.
John has extensive experience in valuing residential and multi-family properties, as well as some experience appraising retail, hotel, and office/warehouse properties. He has worked for various banks and credit unions, private investors, homeowners, landlords and tenants. His team of appraisers completed valuations of over $500 million worth of real estate from 2004-2010.
To book an initial consultation, visit www.Calendly.com/jwtanner
For more information about Florida properties for sale or lease, visit www.colemantanner.com