Searching for a home or selling a property on your own, or relying on expert real estate consultants — that is the big question. Working with these professionals is not an expense, it is an investment that saves time and increases the profitability and security of the transaction. In this article, we analyse what real estate consultants do, what value they currently add, and how to choose the right consultant.
What do real estate consultants do?
Today’s real estate consultants are not just intermediaries between buyers and sellers — they are strategic professionals who carry out a multitude of value-adding tasks in the property investment transactions they are involved in:
Defining objectives with each client
A good real estate consultant knows that every client is different and has different needs. That is why, when a consultant starts working, the first thing they do is define the client’s objectives. For example, if it is a buyer:
- · What type of property they are looking for (flat, detached house, new build, second-hand).
- · In which location.
- · What services they need in the area (schools, parks, health centres, etc.).
- · What their maximum budget is.
If it is a seller, the following must be defined:
- · At what price they want to sell.
- · What prices exist in the market for similar properties.
- · Possibility of aesthetic improvements to help the property sell better.
- · What type of buyer they are looking for.
- · What documents they want to sign (deposit contract, private contract or directly the deed of sale).
- · What documentation they must have ready for the sale (the property deed, for example).
Analysis of the real estate market
This analysis of what is happening in such an important market as real estate helps clients make decisions based on real and up-to-date data.
Market analyses include:
- · General economic situation.
- · The state of the real estate market in particular, and if it concerns residential properties, the state of the residential market is analysed.
- · Market trends in terms of buyer preferences, types of properties available, purchases by foreign buyers, or price increases or decreases, among others.
Property valuation
This is one of the most important actions of real estate consultants because it determines the starting price and can mean:
- · That the property sells quickly if it is priced correctly.
- · That the profitability is adequate.
However, if the price is too high, the property can get “burnt” if it stays on the market too long and profitability is lost because it takes too long to sell.
The valuation of the property considers the surface area, the layout, the condition, the location, the design, the quality of materials or any improvements that have been made.
Property filtering and visit organisation
This is another relevant task where the real estate consultant adds value, as they carry out important analysis and filtering of properties that may match what a buyer is looking for, offering only those that truly meet the requirements and may be of interest. This represents a significant time saving for the client.
Legal analysis of each property
The “due diligence” of each property is essential to avoid legal problems in the future. The real estate consultant therefore analyses, among others, the following documents:
- · The Land Registry information to verify via the simple note: ownership, description of the property and encumbrances (mortgages, liens and easements, among others).
- · The previous deed of sale or the title by which the property was acquired (donation or inheritance, for example).
- · The cadastral information to analyse uses and other elements.
- · The existence of mortgages to find out what amount remains to be paid or how to cancel it in the registry if it has already been paid in full.
- · The community statutes and internal regulations, if it is a horizontally divided building, to verify any pending charges.
Negotiation of the sale
This is one of the most critical actions carried out by the real estate consultant, as it is not just about negotiating the sale price, but it is important to negotiate all the conditions of the transaction. For example, in the case of a sale, elements such as the following must be negotiated:
- · Whether a deposit contract is signed before signing the deed of sale and what amount will be handed over as a deposit.
- · Whether all encumbrances will be cancelled before the sale or whether part of the price will be withheld until they are cancelled.
- · Who pays the costs of the sale (notary fees, registrar fees and agency fees, among others).
- · Who pays the Property Tax when the sale is signed. It can be paid by the seller or prorated between buyer and seller in proportion to the time they are owners.
- · Before which notary the sale will take place and on what day.
Preparation of contractual documents
The real estate consultant can also be responsible for managing the preparation of documents such as:
- · Binding offers.
- · Confidentiality agreements.
- · Deposit contracts.
- · Private sale contracts or public deeds of sale.
What does a real estate consultant do for property sales?
In the case of property sales, additional services are added, such as:
Personalised marketing plan
A marketing plan tailored to the client’s needs is developed, with actions such as advertisements, posts on social networks and specialist platforms.
Home Staging
The appearance of the property directly influences the perceived value by the buyer, which is why the Home Staging service includes various actions such as interior and exterior painting, styling, landscaping, aesthetic improvements and lighting, among others.
Dossier preparation
A dossier is prepared with all the information about the property and a renovation proposal is included, if necessary.
What value do real estate consultants add?
Working with a real estate consultant provides, above all, the security of being in the hands of a professional who thoroughly understands the market and how it works.
The work carried out by real estate consultants is a complete strategy that offers various advantages for clients, such as:
- Time savings in management. The client does not waste time searching for properties on various property portals or visiting homes that do not interest them. The consultant does the work for them.
- Avoiding legal problems. Various legal issues can arise in the purchase and sale of a property that can be avoided with the knowledge and experience of a consultant.
- Knowledge of the local market. This element is also a great advantage because it determines that the search for the right property will be more accurate.
- Access to off-market opportunities. There are properties that never come onto the market and can be accessed through experts in the real estate sector.
How to choose the best real estate consultants?
You should not only analyse price — you must consider many other elements such as:
- · The consultant’s experience.
- · Participation in successful transactions in the market.
- · The opinion of other clients.
- · The services provided.
- · Specialisation in a specific market and in a particular city (for example, luxury residential properties in Barcelona).
In short, the value that real estate consultants bring to the transactions they are involved in is significant. If you want to sell your home or buy a property, contact our team of real estate consultants in Barcelona so we can advise you.
