Real estate means land and any permanent structure, such as a house, or improvements to land, whether natural or manufactured. A distinction is made between personal property unrelated to lands, such as vehicles, boats, jewellery, furniture and agricultural implements.
Real property is land and anything permanently attached to it or built upon, whether natural or manufactured. The following are five categories of real estate:
- Residential land,
- Commercial land,
- Industrial land,
- Vacant land
- Special purpose land
Real estate investment involves the purchase of residential and rental properties and land. Indirecttop property dealers in dha lahore may be made through REITs and pooled real estate investments.
Real Estate Consultant
Real estate consultants provide professional advice and guidance to clients seeking to buy or develop real estate. Real estate consultants generally work for investors in commercial real estate, not for buyers and sellers of homes. They are also called real estate consultants or real estate advisors. Real estate consultants are usually licensed to conduct real estate transactions and may use the title “real estate advisor” (REC).
Real estate consultants are experts “behind the scenes.” They conduct in-depth research to help clients make decisions at all project stages. Their job is not to focus on a single transaction but to ensure that the client’s investment is successful.
Real estate consultants usually work for large consulting firms or as independent consultants. Salary depends on the nature of the work, but most real estate consultants are paid a fixed or hourly salary.
Working of Consultant
Real estate advisors help their clients make decisions based on extensive research and industry experience. The first step is an initial meeting with the client to discuss primary and secondary objectives. Once the goals are defined, the real estate consultant will develop a plan on how best to achieve these goals. The role of the real estate consultant depends on the type of client with whom they are working. For example, consultants working on development projects are often hired before a plot of land has been secured. The client trust on the real estate consultant to confirm that he invest on the right place. To do this, consultants visit proposed sites, meet local real estate experts and analyses market trends.
Different Types of Real Estate Consultants
Property consultants often specialize in working with one type of business, but some may work with various clients. Here are some examples of the most common types of property consultancy.
- Real estate development
- Real estate investors
- Consulting firm
- Residentiary clients
Real estate development
Real estate consultants are often involved in commercial real estate projects from start to finish. They often identify potential development areas and conduct feasibility studies and competitive analyses.
Real estate development consultants have experience in marketing and sales. These consultants may also work with interior designers.
Real estate investors
Investors looking to expand their portfolio may need a real estate advisor and expertise. Their main task is to manage the entire process, which includes economic analysis to ensure that the investment is a good financial decision for the client. The second task is to study the supply, demand and price for a particular property location.
After evaluating the location, the attractiveness of the property to the market and its profitability under current market conditions are assessed.
These firms offer a range of services to help clients determine the value of a development or investment project. Private equity funds use them for individual investors, business owners, lenders and real estate groups. Real estate consultants provide portfolio positioning, strategy development and financial modeling services.
Some real estate agents offer advisory services in addition to their normal brokerage work. In this case, the adviser will help the buyer to decide whether the purchase is a good investment. The adviser will consider the buyer’s objectives and all aspects of the potential transaction. As advisers cannot work for a fee, they can give objective and impartial advice.
How is property advisers paid?
A real estate consultant’s salary depends on the client and their company. Unlike brokers, who are paid on a commission basis, real estate consultants are paid on a flat-rate, hourly or performance basis. They may charge an hourly fee for their advice.
Real estate consultant vs real estate agent in DHA Lahore
A real estate agent is a licensed professional hired to broker the purchase or sale of real estate. In most states, agents must work through a real estate broker with additional training and licensing.
A real estate agent can be a buyer’s agent, a seller’s agent, or sometimes both. A listing agent, also called a sales agent, arranges for a property to be listed and handles offers from potential buyers. The agent recommends the property to the buyer and helps the buyer to make an offer. Both agents work on behalf of their clients, making offers and closing transactions. They negotiate with each other to get the best possible deal for their clients.
Real estate agents are not obliged to do research or give advice on buying a property. Their job is to ensure that the transaction goes smoothly for both buyer and seller. They are usually paid a commission, a percentage of the property’s sale price.
How to become a real estate consultant
There are no special training requirements to become a real estate consultant. However, if you intend to work for a company, you may need a college degree and a real estate license. Here are some steps to ensure success in this career field.
- There are several different types of consulting under the real estate umbrella: real estate development, consulting, housing and investing. Research and identify your interests so you have a specific direction.
- Obtain a real estate license. Although not a requirement for employment, passing the state licensing exam for a real estate broker’s license is a good way to ensure your success in this field. To give valuable advice to clients, you need to understand the housing market, be familiar with industry terminology and be able to value property.
- Obtain an associate broker’s license. Obtaining an associate broker’s license allows you to work as a real estate consultant and sales agent to offer both services to your clients. If you work independently, being able to switch to sales can be helpful when the consulting business is in a slowdown. Read more about how to become a real estate agent.
Consider a specific title. While certifications by the International Association of Real Estate Consultants or membership in the National Association of Realtors (NAR) are not requirements for real estate consultants, they can be helpful. NAR requires its members to adhere to a code of conduct and ethics and provides its members with support, benefits and a network of other real estate agents and consultants.
Top Real Estate Consultant
The DHA is a much larger market, so it is important to choose the right broker.
PRIME REAL ESTATE & BUILDERS is a team of professional, qualified real estate brokers; PREB deals with the sale of commercial real estate, residential and agricultural land.
Johan Estates is considered the most trusted agency in Pakistan. Its executive director, Yousuf Chauhan, has built a solid reputation in the real estate market. Its headquarters are located at the DHA Mosque in Lahore III.
Sarfraz Hamid Properties
Sarfraz Hamid Properties, also known as DHA Experts, was founded in 2015. Still, managing director Sarfraz Hussain and CEO Hamid Latif have worked as DHA Experts at Chohan Estate for more than 20 years and have developed the company with reputable associates in the industry. It is headquartered at 25-MB DHA Phase 6 in Lahore.
Lahore Real Estate
Lahore Real Estate deals with DHA, Bahria and most other communities in Lahore. The office is located in DHA Phase 6 in Lahore.
Imlaak deals with DHA and other DHA-related projects and provides reliable services for DHA Lahore. His office is located in FF, DHA Phase 4.