What is a real estate consultancy and which are its main functions?
Changes in trends, property location, sales rates, market prices, and distribution by typology... These are some of the aspects that every promoter should be aware of before launching a project on the market.
Since the bursting of the real estate bubble, not only buyers became more careful, but banks, lending institutions, and government authorities also tightened policies and regulations for new construction projects. With this, the figure of real estate consultants was reinforced. Do you know which are their main functions and how they can help you? Today at Prime Invest, we want to talk to you about this important figure in the real estate sector. Shall we begin?
What is a real estate consultancy?
A real estate consultancy is a service offered by qualified professionals known as consultants or market analysts. The main function of this specialized service is to offer advice on all aspects related to real estate development: the best products that fit the demand, information regarding the rhythm of sales, and a marketing and sales plan that meets the objectives to be achieved.
Professional real estate consultants have a wide knowledge of the sector and can advise both large and small developers in the difficult task of launching projects of new construction.
What does a consultancy firm do? How can it help you?
As we have already mentioned, the main job of a real estate consultancy is to advise on all aspects of a real estate transaction. Real estate consultancies often also act as intermediaries in the purchase and sale of singular assets, plots of land, and pre-approved projects.
We have divided the wide range of services in which a consultancy like Prime Invest can help and advise you.
Functions of a real estate consultancy in real estate purchases
1. Locating properties
The consulting professionals will help you find the best areas where the properties that meet your requirements are located.
2. Market analysis
This is one of the main functions of a real estate consultancy. Knowing the market's evolution and status is essential to be able to offer an optimal service.
The most important thing is that this data is updated in real-time. After all, changes occur every day and industry data must be up to date. This may allow consultants to predict the success or failure of any operation.
3. Financial analysis
Real estate consultants know the financial market. With this, they can provide you with information about the bank offer (interest rates, mortgages, etc.) that can best suit your needs.
4. Project feasibility analysis
Before investing in a real estate project, these professionals carry out an analysis and comparison of the qualities of the project and the profitability of investing in it. Thus, they will assure you of the level of viability of the investment.
Functions of a real estate consultancy in the sale of properties
1. Valuation and appraisal of real estate
Before the sale, the real estate consultancy will carry out an appraisal of the property and a respective valuation of the prices of the comparable ones in the real estate market.
2. Real Estate Business Plan
For the sale of a property, the knowledge and experience of a real estate consultant are essential. These professionals create the Real Estate Business Plan in which all the information related to the property or project to be offered for sale is gathered. This includes construction and financial costs, as well as sales and marketing expenses needed to successfully launch and market a property.
3. Sales Process Management
In addition to consulting and research, real estate consultants also carry out real estate sales processes.
The advantages of hiring a real estate consultancy firm
- Saving time: a process of purchase and sale and investment requires a lot of time and, in most cases, we do not have it. The real estate consultancy is a specialized service, so it has the know-how and is there to save us time.
- Experience: hiring a consultancy is hiring experience. After all, they spend all their time studying the market, projects, and advice, so they have a high level of experience in the real estate sector.
- Technical and legal assistance: real estate transactions involve technical and legal aspects that only local experts know in depth. Real estate consultants specialized in specific areas are the best bet for national and international developers with no knowledge of a specific market.
Differences between a real estate consultancy and a real estate agency
A real estate agency and a real estate consultancy are not the same. Although it may seem that both services overlap functions, this is not the case. In fact, an agency and a consultancy do not offer the same services.
The main difference between the two services is the added value offered by the consultancy. This value is based mainly on the knowledge and information that is possessed within the consultancy, which allows a personalized and focused treatment of each client and their situation.
- Information: the consultant searches for the ideal property, and handles valuable information for the operation such as legal issues or financing.
- Commitment and personalization: real estate consultancies are characterized by going deeper into the searches to achieve the requirements set by the client.
Your real estate consultancy service
Are you looking for a real estate consultancy to advise you on the Costa del Sol? At Prime Invest we offer our Prime Consulting service.
Our Prime Consulting unit provides investors with a strategic consulting service, based on one of the most powerful tools in the real estate market: strategic, relevant, and up-to-date information.
Some of our consulting services are:
- Market research
- Segmented analysis and project advisory
- Identification of business opportunities
- Sale of singular assets
- Commercial valuations
If you need advice, contact our team, which has experience in consulting on more than 240 projects. At Prime Invest we want to assist you and guide you during your real estate transactions!