If you want to buy a home, you’ll likely need a real estate agent to help you close the deal. However, a real estate agent’s job is to help you buy the property you desire; they don’t necessarily provide investment advice, nor do they need to think about how the transaction could affect your future. 

So, if your real estate agent doesn’t provide professional financial advice, who can you rely on? Certified Distressed Property Expert and Investor Specialist Omid Akale at Twin Cities Portfolio Group explains the role of a real estate investment consultant and why working with one can be a smart move by answering the following frequently asked questions.

If you find your dream home, you may be tempted to make an offer quickly to prevent other potential buyers from securing it first. The problem is: not all seemingly desirable properties are a sound investment – something many property hunters discover too late, explains Omid Akale.

A lender that benefits from giving you a mortgage or loan might not be the best person to depend on for impartial advice. Also, while real estate agents may not be out to cause harm, it’s important to remember that closing the sale quickly is in their best interests.

A real estate investment consultant provides specialized financial advice to help you buy or invest in property. They derive their income from delivering advice rather than helping you close a sale, which means making sure you spend your money wisely is in their best interests.

In addition to providing property investment and financial advice, a real estate agent may offer:

Market analysis/modeling

Asset management

Lease management

Client consulting

Omid Akale explains that due to their skillset, real estate consultants often work for business owners, construction companies, and third-party investors. Unlike a real estate agent, a consultant is paid by the hour. They don’t take a commission from your transaction.

Ultimately, your consultant’s responsibility is to provide an impartial and objective opinion on whether a transaction or investment is a sound financial decision. They first take the time to understand your unique goals. Once established, your consultant will perform in-depth research to help you achieve them in the most cost-effective and timely manner possible.

Omid Akale says because purchasing a home requires a substantial investment, many property hunters overlook the services of a real estate consultant. However, consultants can help you save a small fortune in the long run by:

Providing expert financial advice

Analyzing the market, sales trends, and risks

Assessing your current and potential future needs

Ensuring properties are listed for a reasonable price

Helping you buy a suitable property efficiently

As mentioned above – consultants don’t usually earn a commission from the sale of a property, which is why you can trust them for unbiased advice. Their ability to earn an income depends on their reputation, experience, previous work, success stories, and credentials. Partner with one when buying a home, and you can invest with confidence.