A Real Estate Consultant Mindset II￼
Earlier this year I wrote an article on ‘Adopting a Real Estate Consultant Mindset’ that was well received. I am following up on that article with a part II capturing what it means to have a Real Estate Consultant mindset.
A real estate consultant provides advice to clients—commercial real estate investors, lenders, or property developers—to help them make financial decisions about real estate transactions. A real agent, with a real estate mindset, endeavours to give all her clients, both sellers and buyers, advice to help them make sound financial decisions, about their real estate transactions, be it a home purchase or the rental of a commercial space.
Some of the advice could include:
- Budgeting and financing advice for the potential buyer.
- Design presentations for the purpose of marketing and promotional plans of client’s property.
- Act as negotiation intermediary between both buyers and sellers, ensuring clear communication between both parties.
- Research and analyze commercial and residential real estate markets in the specific neighbourhood, to give buyers and sellers advice.
- Show residential and commercial properties to prospective buyers, offer expertise regarding suitability and value, and prepare all related documentation.
- Excel at balancing multiple responsibilities within challenging, fast-paced environments while delivering top-level, management, problem-solving, and communication skills.
- Review personal financial statements of prospective home borrowers help with the necessary paperwork for the contract between buyers and owners.
This would require the real estate agent to have a working knowledge of:
- Real Estate market research
- Personal relations, contacts with valuers, bankers, regulatory state agencies, lawyers, developers
- A good working knowledge of financial planning
- A good working knowledge of legal contracts
- A good working knowledge of Real Estate valuation
- An up to the date awareness of developing compliance laws
- Ethical standards of operation
To have a Real Estate Consultant mindset is to see yourself as a professional. Being a professional involves being reliable, setting your own high standards, and showing that you care about every aspect of your job. It’s about being industrious and organized, and holding yourself accountable for your thoughts, words, and actions.