Real estate consultants in Dubai, real estate agent or a broker is someone who represents buyers or sellers of real estate related services. An agent works under the supervision of a licensed real estate broker, whereas a broker works on their own.
What is the Difference Between Real Estate Consultants and Real Estate Agents?
- The main difference between a real estate consultant and agent is that the services provided by the real estate consultant are generally limited to certain areas whereas the services rendered by the broker are more global and can include a variety of real estate related services.
- If the real estate agent does not hire a real estate consultant, the agent may use the services of a real estate attorney, title company, or an independent title expert to review the closing documents.
These professionals can provide a valuable insight into the closing process and the reasons why the closing may have taken place.
Can Real Estate Agents Work with Real Estate Consultants?
The next reason why the real estate agents may consider employing real estate consultants is that it saves them time on the part of the agent. Time is money and the more hours the real estate agents put in the more they pay themselves for their work. Hiring an outside expert eliminates that cost as the consultant’s hourly consulting fees are usually much less than the real estate agents pay their employees.
How a Real Estate Agent Make Money?
The second reason why the real estate agents may consider having a real estate consultant is because of the key differences between the two professions. Real estate agents generally work on a commission basis, where they receive a certain percentage from the closing price of the property they sold.
Some may hire several consultants to work on a case and some may only hire an unbiased expert opinion. In some cases the client may hire the services of a real estate consultant on a contingent or contingency basis which means that the client pays for the service after the contract has been established. Find more info about real estate consultants here.
How a Real Estate Consultant Make Money?
A real estate consultant on the other hand receives a contract for their services that binds them to the buyer. The consulting contract for these professionals usually stipulate that the client is required to pay a retainer up front for the real estate consultant and they are also required to purchase a specific percentage of the closing price of the property the consultant sells to the client. The real estate consultant also receives a percentage of the selling price.