Real estate consulting is sometimes utilized to address a specific atypical issue and at other times is utilized to address a routine task that the client prefers to outsource. For example, some apart…
Real estate consulting is sometimes utilized to address a specific atypical issue and at other times is utilized to address a routine task that the client prefers to outsource. For example, some apartment developers prefer to outsource the market study once a site has been selected. This provides a fresh and independent perspective regarding the probable success of the proposed property. Real estate consulting covers a breadth of areas including market rent study, market study, feasibility study, highest and best use analysis, cost segregation and analysis for an under performing asset. The scope of work for consulting assignments can vary from a highly defined assignment to a complex project involving man-years of work and myriad permutations. For example, one client may engage a consultant to obtain an independent opinion regarding the market rent for an apartment complex while another may seek guidance on plans to develop a 5,000-acre mixed-use community. Clarifying the client’s objectives and expectations is the cornerstone of a successful real estate consulting engagement.
Real estate consulting begins with a detailed discussion regarding the concerns, constraints and time frame related to an assignment. Through a series of interactive questions regarding relevant topics the scope of work and reporting requirements can be developed. Real estate consulting could include the following:
Real estate consulting includes many activities. Clearly defining the clients objectives helps generate an appropriate scope of work. Engagement agreements should require consultants to call the client during the assignment if certain conditions occur (i.e. initial analysis indicated proposed property is not likely feasible).
OConnor & Associates staff complement of over 50 real estate professionals can handle any real estate consulting project. These professionals are supported by a support staff of over 100 who is accustomed to complex assignments. Out team has experience in market rent studies, market studies, feasibility studies, highest and best use analysis, cost segregation
, and analysis for an under performing asset. Reduce your risk and stress by utilizing OConnor & Associates breadth and depth of experience to evaluate your real estate investments.
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Real Estate Consulting, Real Estate, Estate Consulting, Market Rent, Rent Study, Apartment Complex, Office Building, Operating Expenses
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