What Does a (investment properties for sale) Real Estate Consultant Do?
By Peter Vekselman
You may be wondering if the title of real estate consultant is a meaningful one, and if it indicates anything different from the same old licensed real estate brokers with a vested interest in the fate of a property. While it is true that anyone can call himself or herself a consultant, the term is not meaningless window dressing. For those who take their real estate consulting business seriously, it represents a different model, a different approach to real estate practice.
The first and most important difference is objectivity. Whereas a real estate broker typically is paid contingent on an outcome: in other words, they receive a commission; a real estate consultant is paid solely for their expertise. They have no stake in the outcome. Salespeople are paid only for getting a result sale. Real estate consultants are paid for their expert advice only, and by design have no stake in achieving a particular outcome to a particular transaction. This gives them the capacity to be more objective and inherently more trustworthy than a traditional real estate salesperson. Think about it-even the most honest salesperson will unconsciously try to steer you toward a sale. After all, that’s where their pay comes from-from selling! The consultant is paid the way other professional advisors or service professionals like CPAs are, with a retainer regardless of outcome.
Consulting can involve a variety of skills and areas of expertise. You can hire a consultant for legal advice, market research, or to locate possible properties to invest in, among other things. Since they are paid as much for their time if they advise you that there are no properties in an area worth investing in as if they advise you of dozens of viable properties, they have no stake in anything except giving you the best advice possible. After all, their future business depends on word-of-mouth endorsements from investors like you.
If you are looking for properties to invest in, a real estate consultant can tip you off to developer closeouts and bulk opportunities, equity partnerships, joint ventures, and possibly even some very unique and profitable turnkey investment opportunities. The consultant is selling information and expertise, and therefore can provide you with a layer of insulation between you and the people selling the properties.
They can work out a lot of the details and business prospects of a property before you have to talk to a salesperson. Once you face the salesperson, you can approach the negotiation fully armed with an array of appropriate information, and thus avoid being bamboozled and negotiate from a position of strength.
If, on the other hand, you are selling properties, especially if you have a lot of properties to sell, a real estate consultant can help you create a strategy to sell the units before you get involved with actual salespeople, which can have many advantages. For example, you can sell a lot of properties in a relatively short time without creating the appearance of a bulk sale by having a real estate consultant distribute the properties among several different sellers.
Peter Vekselman has been successfully investing in real estate since 1996. He has completed over 1000 real estate deals, owned a construction company, been a private lender, and owned a property management Your Source For Real Estate Services Avoid Making These 5 Mistakes When Buying Foreclosed Real Estate 1. Foreclosure Ignorance: You have to do your homework and avoid the lofty pitches that may be coming to your from all directions. Invest the necessary resources to ascertain within yourself that you have all of the information you need in order to make a profit from your investment. 2. Inaccurate Evaluations: You must have an accurate knowledge of home values and ensure your evaluations match current market data. A higher and higher level of foreclosed properties is a result of no buyers in the market. Ensure you’re buying low. 3. Decision Hesitation: Although being aware of all of the factors that come into the process of making a profit from investing in a foreclosed real estate property is critical, the truth of the matter is that it is not enough. You must also move like lightning when the time is right. Hesitation in foreclosure investing leads to going over the falls and missing out on the ride. 4. Extra Noise: Miscommunication and a shabby presentation will slow you down and in turn create noise when instead you want clarity and attention. Think of your investment as a diamond in today’s tough real estate environment of foreclosures and then make it a diamond - clear and clean. Put your pretty face on. 5. Word Silence: Do not solely rely on traditional marketing efforts. Your investment must be viral using all of the online marketing tools available to you today. Be completely motivated to spread the word every hour of every day. Spread the word. Successful investing in property foreclosures requires that you avoid making these 5 fundamental mistakes. Keep them in mind as you go through the process of investing in house foreclosures. There are plenty of resources where to learn about investing in house foreclosures. Here are two examples: - Foreclosure Bible, by Chris Negro, is a good source for the ins and outs of foreclosure investing such as figuring out where the home owner is at (in the foreclosure process), the different times you can buy, and how to sell your investment in 36 hours or less. - In Maps Track Markets Foreclosure Risk and Foreclosure Maps there are interactive mortgage maps for the United States, for owner-occupied (non-investment) homes, tracking subprime and Alt-A loans. About TwoKad, TwoKad, http://www.twokad.com, is a privately owned online publisher headquartered in Austin, Texas. TwoKad is a team of online content developers and publishers working with expert authors from around the world to bring focus into our online experience.
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By Michelle Welder
Due to the recent rise in property foreclosures a new wave of neophyte home investors are getting into buying distressed and foreclosed property. Attracted by the seminar mantra of quick profits and simple approaches many of these new investors are jumping in naked into a world of foreclosure investing. If you’re one of these new investors, thinking of investing in foreclosed home, here are 5 mistakes to avoid:
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