When assessing, purchasing, selling, developing, enhancing, and financing the real estate element of an investment portfolio, real estate advisers offer research, analysis, planning, strategy, and management expertise. The assistance of one of these experts can be extremely helpful because real estate investing can involve such large stakes. In order to augment the transaction-focused activities of real estate agents and brokers, real estate advisers may even collaborate with your financial advisor to help direct your real estate investing activities.
You will need to decide whether you need the help of a full-service Commercial Real Estate Investment Management team or a smaller real estate advisory firm.
The Work of a Real Estate Advisor
Real estate consultants provide tasks that are not generally handled by agents and brokers. Advisors often focus on how their clients may optimize the value of real estate investments that are currently in the portfolio or may be added, as opposed to bringing buyers and sellers together and marketing of properties.
Real estate advisors may offer a range of services, such as:
- Check out the homes that are for sale
- Consider the market environment
- Verify the zoning regulations
- Examine suggested purchases
- Inventive capital allocation techniques
- Analyze the viability of remodeling initiatives
- Develop plans for enhancing operations
- Investigate methods to raise tenant satisfaction
- Weighing lease-purchase choices
A real estate advisor typically aims to offer an unbiased, knowledgeable perspective to assist real estate investors in getting the highest returns on their investments. For instance, a customer's income-producing property may have tenant retention concerns that an advisor can help the client evaluate. The advisor could next suggest adding facilities, increasing parking, streamlining operations, boosting maintenance, or other retention-boosting measures.