The Key Advantages of a Real Estate Consultant
Written by Marisa Marulli and Julia Ribeiro (REMCO Communications) and reviewed by Lisa Gerard (REMCO Founder)
August 9, 2021
When evaluating commercial real estate, one may assume that a real estate consultant and a real estate agent perform the same function. It is true that they should have a similar foundation of knowledge in the industry, however there is a key difference in their specialties. An agent is typically hired when an investor knows exactly what they want and is ready to strike at a buy or sell. A consultant is typically hired ahead of this time to assess investor goals, target opportunities and assist throughout the transaction process.
What is Commercial Real Estate Consulting?
A real estate consultant provides expert advice and research for real estate investors looking to analyze their operations, evaluate current asset allocation and assist in decisioning plans to buy, sell or invest in additional real estate properties.
Both a consultant and agent would maintain an active real estate license, but rather than focusing solely on a real estate transaction, a consultant performs extensive research to guide the client step-by-step through the decision process of investing. That could mean assisting a client in building an investor portfolio, managing assets or providing research that supports project viability.
While an agent or broker is on record, a consultant can be like a “ghost asset,” a pocket weapon brought in confidentially at any point during a transaction.
Empty commercial real estate conference room. Source: Nastuh Abootalebi
Applications of a Real Estate Consultant
The role of a real estate consultant varies according to the clients’ objectives. Real estate consultants can work with real estate investors, property developers, property management companies, investment banks, builders and more.
A consultant can be called in as part of a planned procedure for a project, or a consultant may be sought in the middle of a pressured or timely situation.
Suppose a property developer wishes to construct a building for commercial office leasing. Part of the developer’s initial plan may be to seek a consultant to conduct research regarding the project’s viability and financial return on investment.
The consultant may calculate financial return by analyzing factors such as market trends, competition, operating expense and financial projections.
In another scenario, the same developer may see a land parcel come on the market at what seems to be a great price, and the developer would want to move fast in order to not lose the opportunity to purchase it and build there. The developer may call a consultant in a pinch to help them purchase the land and manage the transaction, as the developer may not have the time or staff resources to purchase it quickly.
Benefits of Working with a Consultant
Unbiased advice: Consultants are not driven by property sales commissions; they grow as their clients’ financial success grows. The portfolio performance of their clients is proof of the competence of their professional advice.
Market knowledge: Consultants have extensive market knowledge beyond buying and selling properties. Real estate consultants know how to evaluate market trends and performance to deliver worthy investment strategies.
Responsibility assistance: A consultant can serve as an assistant and relieve owners of many responsibilities that otherwise would have led to overwhelm. There are many ways a counselor can be of use, be that managing properties, analysing investments or negotiating transactions.
Real Estate Consulting with REMCO
REMCO founder, Lisa Gerard, has an extensive background in accounting, finance, property management, development and more.
When she entered the commercial real estate market twenty years ago, she began as the receptionist for a commercial property management company, The David Associates, and moved through the organization gaining detailed experience in each area including but not limited to A/R, A/P, Lease Administration, Maintenance Administration, Assistant to the Controller, Property Manager, Office Manager and Business Manager, before eventually achieving position as the company’s President, overseeing over one million square feet of commercial space.
In the process, she found success in balancing the perspective of both micro and macro, found a love of forensic accounting, and created a proprietary approach to determining a property’s top performance.
In 2016, Lisa felt called to develop a company that incorporates three facets of commercial real estate into one:
Brokerage
Leasing
Consulting
Applying a balance of micro and macro perspectives assists a real estate project, as we consider the benefits of a property’s leasing potential, future sale price, and more when asked to simply help with a land purchase, for example. REMCO has developed a comprehensive consulting technique that focuses on the detail of the task at hand, while maintaining an overarching view on the totality of the goal.
REMCO stands out in the market with this unique approach to real estate. Amongst its diverse workload, REMCO’s consulting is bound by bringing commercial real estate properties to their potential through a focus on perspective.
REMCO’s Consulting Services
REMCO offers an extensive list of consulting services that vary according to clients’ needs:
Owner representation: Responsible for making informed decisions in the owner's absence, REMCO handles the technicalities of a project, including assistance with major contracts, lawsuits, negotiations and merger management.
Referral resources: Consultants are well-positioned professionals. REMCO has access to valuable referral sources such as mortgage brokers, lawyers, CPAs, insurance agents, financial planners and title agents.
Crisis Management: Taking full responsibility for any situation that may occur under property management is a critical aspect of being a leader. REMCO can step in for property owners and manage various unexpected situations, such as key man loss, hazard control, debt consolidation and distressed asset management.
Investment analysis: Investment analysis consists of investigating all factors contributing to an investment decision. REMCO provides a comprehensive look at an opportunity, such as its budgeting, operating expense analysis, financial projection and acquisition and disposition analysis.
Asset management: In managing assets on behalf of an owner, REMCO has the objective of cultivating market value, thus increasing investment returns. This service may consist of factors such as operations management, software implementation, insurance portfolio management and more.
Transaction management: Real estate transactions tend to be complex and time-consuming. Our transaction management team deals with the negotiations and paperwork involving acquisition, refinancing and dispositions.
Commercial real estate consulting is a solution that entails a comprehensive foundation of many facets of real estate. It is Lisa Gerard’s unique background, fully focused in various aspects of commercial real estate, each for years at a time, that position REMCO as a leader in the industry.
