REAL ESTATE CONSULTANT

A real estate consultant is a professional who provides expert advice and guidance on various aspects of real estate transactions, investments, and development. They typically possess in-depth knowledge of the local real estate market, property laws, financing options, and industry trends. Real estate consultants may offer services such as property valuation, market analysis, investment strategies, property management, and negotiation assistance. They can work independently, or work for real estate firms, or as part of larger consultancy firms. The role of a real estate consultant is to help clients make informed decisions regarding buying, selling, renting, or investing in real estate properties.

Read:UNDERSTANDING REAL ESTATE 

A REALTOR

A Realtor is a real estate professional who is a member of the National Association of Realtors (NAR), a trade association for real estate agents and brokers in the United States. In Nigeria they are yet to form an umbrella body for it. Not all real estate agents are Realtors; to become a Realtor, an agent must join their local Realtor association and abide by the association’s code of ethics and standards of practice. Just like in the case of a Law student and a lawyer, until you are called to the Bar, you are not a Barrister and you cannot join the umbrella body of Lawyers which is NBA.

Realtors typically help clients buy, sell, or rent properties and facilitate real estate transactions. They have access to multiple listing services (MLS) and can provide guidance on pricing, marketing, negotiations, and other aspects of real estate transactions. Being a Realtor signifies a commitment to professionalism and adherence to a higher standard of ethics in the real estate industry to compare to an agent.

 Read also: Differences Between Residential and Commercial Real Estate

A REAL ESTATE BROKER

A real estate broker is a licensed professional who has undergone additional education and training beyond that of a real estate agent. In many jurisdictions, brokers are required to have more experience and education than agents, and they are often authorized to manage their own real estate brokerage firm or work as independent entities.

Brokers can perform all the duties of a real estate agent, including facilitating property transactions, representing buyers and sellers, negotiating deals, and handling paperwork. Additionally, brokers may supervise other agents and oversee transactions within their brokerage.

In some states, the term “broker” is used interchangeably with “real estate agent” or “real estate salesperson.” However, in most cases, a broker holds a higher level of licensure and responsibility within the real estate industry.

In conclusion, these terms are used interchangeably in Nigeria because there is no clear cut line among the 3 terms. And since Real Estate business is beginning to thrive well in Nigeria, there seems to be a dearth in the monitoring and control of Real Estate activities in Nigeria. So next time when you are addressing someone in Real Estate, you had known the right term to use.

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