Behind every successful real estate investment ... a broker or a consultant?
Last Updated: 2023-07-27
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Behind every successful real estate investment ... a broker or a consultant?
Commercial transactions generally depend on two main parties, the seller and the buyer, and in many transactions, the process takes place through a direct meeting between the two parties. But some commercial transactions often require an intermediary between the seller and the buyer, called the "broker". One of the most prominent economic sectors in which brokers work is the real estate sectors. Previously, any real estate broker was called a broker, but with the development of work in the real estate market, a new specialization became responsible for the success of any investment, which is called the real estate advisor. What distinguishes Mersat Real Estate is its professional team, which includes the best consultants in Turkey.
You will read in this article:
Real estate broker
Categories of real estate brokers
The profession of broker is about to die out
Who is the real estate advisor?
What are the duties of a consultant?
The difference between a real estate advisor and a broker
Real estate broker:
In the past, brokers worked for real estate owners only, before the spread of multi-sale services in 1967. At those times, these were known as "real estate dealers", and later this term changed to broker due to the various ways brokers now rely on helping landowners complete the legal transfer of ownership.
Real estate brokers' categories:
Seller's Agent: The person who contracts with the property owner to help him promote his property for sale or rent.
Buyer's agent: is the broker or dealer who assists the buyer in purchasing real estate.
Double agent: is the broker who helps each of the parties to complete the purchase transaction, and in order for this broker to maintain the integrity of his license, he must represent all parties honestly and fairly, and must also require both parties to sign the double agency contract. It is common for dual brokers to have special laws, particularly when it comes to negotiating rates.
A conflict of interest of the parties may arise in the event of a double agent appointment, resulting in the broker withdrawing from serving both parties Dual agency laws may differ from state to state in their definition of the profession. Some other countries also prevent the practice of this profession at all. Some countries may allow dual agency in cases where the brokerage (not the agent) is acting on behalf of both the seller and buyer simultaneously.
For example: if an agent works for a certain broker and is charged with selling a property on behalf of one of the owners, and at the same time there is another agent working for the same broker and on behalf of another party who intends to buy this property; In this case, the law allows for double agency, as the broker carries out his work in that case as the double agent.
Transaction Agent: This person works for the benefit of both parties as a mediator and nothing more without legally acting on their behalf or committing to any fiduciary duties, as the job of this broker is to facilitate the transaction only, and on this basis this broker helps the seller or the buyer or both to complete the sale transaction without representation the interests of any of the parties; The tasks undertaken by this broker include drafting legal documents to document the sales contract between the seller and the buyer, and providing advice on how to complete the process of transferring ownership from the seller to the buyer.
And certainly the role of the real estate broker ends with the end of the sale process. Unlike other professions, a real estate broker does not need specific qualifications or education, but it is sufficient for him to possess verbal and social skills and master the art of dialogue and negotiation. Therefore, many view this profession as a “profession of the unprofessional.” Without qualifications, you may be able to reap significant gains .
This is the reason why investors often refrained from having a broker because of many fraud cases that the buyer was exposed to, either because of the broker’s greed or even his inexperience in the real estate market. For this reason, there are studies that say that the profession of brokers is on the verge of extinction first because of the communication revolution and the ease of connecting the seller; secondly, because of the presence of a specialist who has knowledge of real estate details and is able to provide real estate investment services and supervise the direct management of real estate, and he is called the “real estate consultant”.
(real estate consultant) who is a real estate consultant?
The consultant works in real estate investment services agencies and works on providing suggestions and supervising the direct management of commercial or residential real estate with the aim of obtaining the highest possible value for it, gaining customer satisfaction and improving the company's or real estate agency's revenues.
Real estate consultant duties:
- Interviewing clients and determining the requirements for the desired property.
- Coordinating sales operations and supervising the signing of contracts and payment of financial dues.
- Acting as an intermediary and negotiating between buyers and sellers.
- Coordinating the dates of the field visits and explaining the characteristics and features of the property being visited.
- Create real estate lists compatible with the needs of buyers according to their financial ability.
- Reviewing new construction plans with customers and preparing available options and features.
- Assisting buyers in choosing the right property and making recommendations and suggestions.
What is the difference between a real estate broker and a real estate consultant?
A broker is a person who represents his personal interest and acts as a direct intermediary between the seller and the buyer and receives commission by agreement. But he is often not aware of everything that surrounds the property or facility, but he is only a broker for buying and selling.
A real estate broker is nothing but a trader, but a trader of information only. One of the broker’s most defects is that he contributes to raising prices sometimes in an unjustified manner and sometimes lacks credibility. This is why contractors flee from brokers except in minor cases. The consultant represents your interest and is not necessarily a real estate broker, but he can certainly explain the real estate and cultural map of the area in which you want to buy your property, in addition to reviewing new construction plans with clients and preparing the available options and features. He helps you choose the right property and makes recommendations and suggestions. He also has experience in the real estate markets to save you effort and time, and his role does not end with writing the contract.
In short, behind every successful real estate investment, there is a consultant, if you want a safe real estate investment in Turkey, do not hesitate to contact Mersat real estate consultants through our identifiers on social networks to see the best investment offers that achieve feasible financial returns, and the highest standards of luxury for family residence.
Edited by Mersat Real Estate ©
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