Real estate consultants and realtors play significant roles in the housing market, and although their duties may overlap at times, they have crucial differences. A real estate consultant, like the professionals you can find at Colony Title Associates, often advises clients on activities in the housing market. A realtor, however, helps clients buy or sell properties. Both of these roles are essential for navigating the housing market. Read on for more information on how a real estate consultant and a realtor differ from each other.
What Is The Difference Between A Real Estate Consultant & Real Estate Agent? [Ask An Advisor]
What is a real estate agent?
A real estate agent is a person who organizes the buying, selling or leasing of houses, offices or commercial buildings for their clients. They may have clients on either side of a transaction, and their role and title will vary depending on whether they represent the seller or the buyer. For instance:
Agents need to demonstrate their market knowledge, work skills and abilities when they meet with buyers and sellers. They usually work in an office with other agents or brokers, which offers an opportunity to discuss new listings and available properties in the market. Many successful real estate agents have an office assistant to assist with administrative tasks so that the agent can focus on revenue-generating activities.
What is a real estate consultant?
A real estate consultant is a professional who gives investment and financial advice to clients who want to buy, sell or invest in a property. They focus on helping their clients navigate the housing and property market and provide insight into current trends.
Real estate consultants start a relationship with their clients by first meeting with them to discuss objectives. For example, a property developer may want to know if its a wise decision to build a plaza in a certain area. After learning the clients objectives, the real estate consultant begins the research process. Their research may involve visiting sites, meeting with local real estate professionals and compiling data that provides direction on regional trends in property development.
Real estate consultants work with a variety of clients, including banks, construction companies, business owners and credit unions. Real estate consultants may work independently or for a firm that already provides these services. Consultants cannot replace real estate agents in the buying or selling process, but can help their clients make an informed decision before purchasing or investing in a property.
Real estate consultant vs. agent
Here are some key differences between real estate consultants and agents:
To become a real estate consultant, you follow these steps:
You can become a real estate agent by following these steps:
A real estate consultants main responsibilities include:
A real estate agents main responsibilities include the following:
A real estate agent has a main objective of helping their client buy or sell a property. However, a consultants objective may vary depending on the clients needs and specific situation. For example, a client may hire a real estate consultant for an honest unbiased opinion on whether or not they should invest in a property.
Unlike a real estate agent, a consultant is entirely optional. A client needs the services of a real estate agent in the sale or purchase of a property. A consultant is not involved in any transaction and is only there to advise or provide research and analysis. A real estate consultant can often provide their client with information that the agent cannot. For example, they can tell the client the owners motivations for selling or leasing a property.
Certain skills are especially valuable for those who want to be real estate consultants. For instance:
Two of the most important skills for real estate agents have to do with their communication skills:
What is the difference between a realtor and a real estate consultant?
What is the difference between agent and consultant?
What are the duties of a real estate consultant?