Real Estate Consulting Fundamentals PDF

Real Estate Consulting Fundamentals Eden Dayrit, REB REA REL REC Licensing Regulations Accdg to RESA Law - Who is a Real Estate Consultant? https://www.prc.gov.ph/uploaded/documents/RA%209646.RESA.pdf Art 1 Sec 3 G 1 https://www.prc.gov.ph/uploaded/documents/RA%209646.RESA...

Real Estate Consulting Fundamentals Eden Dayrit, REB REA REL REC Licensing Regulations Accdg to RESA Law - Who is a Real Estate Consultant? https://www.prc.gov.ph/uploaded/documents/RA%209646.RESA.pdf Art 1 Sec 3 G 1 https://www.prc.gov.ph/uploaded/documents/RA%209646.RESA.pdf Licensing Regulations Accdg to RESA Law - Exam Schedule and Scope Art III Sec 12 and 13a Licensing Regulations Accdg to RESA Law - RE Consultants Exam Schedule https://www.prc.gov.ph/sites/ default/ les/ REALESTATESERVICE_board program_DEC2018JAN2019. pdf fi Licensing Regulations Accdg to RESA Law - RE Consultants Exam Scope Real Estate Consulting Principles Real Estate Consultant’s Main Output Stakeholders Potential Collaborators Related Disciplines Real Estate Consulting Principles Consultant’s Main Output Licensing Regulations Accdg to RESA Law - Who is a Real Estate Consultant? https://www.prc.gov.ph/uploaded/documents/RA%209646.RESA.pdf Art 1 Sec 3 G 1 https://www.prc.gov.ph/uploaded/documents/RA%209646.RESA.pdf Real Estate Consulting Principles Consultant’s Main Output Real Estate Consulting Principles Stakeholders Real Estate Consumers Real Estate Investors Real Estate Professionals Real Estate Consulting Principles Potential Collaborators Real Estate Professionals - Broker, Appraiser, Consultant Real Estate Developers Market Analysts, Investment Advisers, Financing Specialists Real Estate Lawyers Property Managers Real Estate Consulting Principles Related Disciplines Chemistry Mathematics History Art Engineering Real Estate Consulting Skills Analyze property values and facilitate transactions Evaluate management performance Conduct research and forecast investment outcomes Identify and de ne threats and opportunities Investigate markets and plan developments fi Real Estate Consulting Skills Draw model of investment scenarios Negotiate and arbitrate between parties Provide expert testimony Train others to provide real estate services Understand and simplify complex situations Real Estate Consulting Services Feasibility Studies Technical Analysis Development Planning Highest and Best Use Studies Disposition/Acquisition Planning Location/Zoning Analysis, Site Selection Evaluation of Proposed Transactions Market Analysis, Neighborhood Analysis Cost-Bene t Studies Marketing Assistance Investment Analysis Property Management Review Risk Analysis, Impact Analysis Opinion Testimony, Con ict Management Portfolio Design and Review Financial Planning fi fl  Client Engagement Consultant’s Responsibilities Prior Engagement Understand client’s business in relation to nature of consultation. Guide the client in clearly identifying the problem. Determine if issue is within your expertise. De ne the scope and limitations of the consultation service, suggest alternatives if needed and enumerate and agree on expected output. Discuss data collection process and seek permission to conduct interviews, audits or gather data whichever applies. Discuss possible collaboration with third-party specialists. fi Client Engagement Consultant’s Responsibilities Prior Engagement Discuss possible collaboration with third-party specialists. Discuss and agree on fee structure and schedule of payment. Set schedules for site inspection, data collection, report submissions and feasibility study presentations. Submit a formal consulting proposal. Sign consulting engagement contract. Client Engagement Consultant’s Responsibilities During & After Engagement Implement engagement and render the report in accordance with generally accepted standards of consulting practice and ethics, and with the contract of consulting engagement. Observe con dentiality in the process of conducting the feasibility study. Maintain strict con dentiality of the report. Perform periodic progress updates. Assist the client in implementing the decisions or actions recommended as may be required by the contract. fi fi Professional Fee Fee Structure Straight or Fixed Fee (Lump-sum payment) Clearly quanti able factors: Data available, Expertise required, Time to complete engagement Modi ed Fixed Fee (Lump-sum + provision for variable income) Variable factors: Time, Expenses, Retainer arrangement Performance Fee (Incentive type) Not commission based. Usually upfront minimum xed fee + performance based incentive fi fi fi Professional Fee Fee Considerations Intricacy of the problem Urgency of the engagement Professional skills required Savings a ected Time expended Personnel employed Results obtained ff