Estate and mortgageReal Estate Consultants: Are They REALLY Different From Real Estate Sales Agents? Part I
Just when you’ve pretty well figured out what real estate sales agents do, along comes another breed---real estate licensees working as real estate consultants. Are they really different from typical real estate agents or merely applying new window dressing to look unique to lure consumers?
While there’s nothing wrong with a real estate licensee calling him/herself a real estate consultant, a true real estate consultant would differentiate himself with consumers by using several of the following:
1.An unbiased and disinterested initial approach with the consumer:
Unlike the real estate sales agent who focuses on listing or selling something in order to generate income, a real estate consultant will initially be unbiased and disinterested in his approach to the consumer and the real estate situation to be evaluated. This doesn’t mean that the consultant doesn’t care; but an unbiased approach is vital for true objectivity to decide if the consultant can assist (or wants to assist) the consumer in solving his real estate needs. Since time is money to both consultant and consumer, the last thing the consultant wants to do is spend time working with a prospect where productive results can’t be achieved. Knowing this up front, the consultant can so advise the consumer prior to entering into a lose/lose situation for both of them.
2. Thorough evaluation of the consumer’s situation:
A true real estate consultant takes the time and effort to thoroughly evaluate the consumer’s situation before deciding if he can be of assistance. Much like a listing agent would dissect the physical property to be listed, the real estate consultant gathers in-depth information about the consumer including experience with real estate matters, property currently owned---even adverse situations that occurred in the process of owning, buying, or selling property. Even bitter-sweet experiences of a real estate or financial nature are important in order to determine the consumer’s savvy level and risk tolerance.
3. Determination of primary and secondary objectives:
The real estate consultant will determine with the consumer the primary and secondary objectives to be attained. Unlike selling or purchasing which has only one specific outcome---to close a sale, consulting is based on the premise that each consumer is different in the objectives he seeks. Additionally, the consultant views each consumer’s situation in light of multiple ways objectives could be reached. It’s then up to the consultant to determine the best approach to take to move the consumer to the desired end result in a timely and cost-effective way.
In Part II of this article to follow on Monday, we’ll evaluate two more ways the real estate consultant differentiates himself from a real estate sales agent. In Part III to follow next Friday, we’ll provide you with questions to determine the savvy level and expertise of the licensee you’re considering who claims to be a real estate consultant.
Editor"s Note:: Going to the NAR Convention? Don"t miss Julie"s presentation on
fee-for-services at the NAR National Convention on Saturday.