A real estate consultant provides expert advice and recommendations to clients looking to purchase or develop property. Real estate consultants generally work with commercial real estate investors rather than residential buyers and sellers. They are also referred to as “real estate counselors” or “real estate advisors.” Real estate consultants typically have a real estate license and may hold a Counselors of Real Estate (CRE) designation.
Think of real estate consultants as “behind the scenes” experts. They perform extensive research in order to help guide clients’ decision-making during every step of a project. Rather than focusing on a transaction, their job is to ensure overall investment success for the client.
Real estate consultants typically work for a large consulting firm or as an independent consultant. Their compensation depends on the type of work they do, but most real estate consultants are paid a flat or hourly fee.
A real estate consultant provides a variety of services to help maximize the potential return on an investment in real estate.
Property developers, builders, real estate investors, and investment banks rely on real estate consultants for professional advice.
How Real Estate Consultants Are Paid
A real estate consultant’s pay depends on the client and the type of firm with which they work. Unlike a real estate agent, who is paid on commission, a real estate agent is paid a flat or hourly rate or paid by deliverable. They may also charge an hourly consulting fee.