Is there Money in Consulting?

There is a lot of fear in the real estate industry today over the big changes that are taking place, A relatively straightforward, and let's face it lucrative, industry is suddenly being inundated with a whole lot of new ideas and innovations. Things like menu programs, flat fees, Internet advertising, and a la carte options seem to some as if they may chip away at overall earnings.

But is this really the case? Let's take a look at consulting compared to traditional real estate services and see if the traditional way is really the best way.

First, think about all that you do for clients during a full service transaction. Odds are you have a cell phone which they use to reach you whenever they need to. As most sellers and buyers operate around their own hours of business, this means that you need to as well. That's a lot of time in the office and working, considering you likely work normal business hours too.

Then there are the showings. Driving buyers around from house to house isn't too taxing personally, but it DOES start to wear on your bottom line. That's a lot of gas and a lot of wear and tear on your vehicle. And the worst part, of course, is that half of the time there is no sale to show for it at the end of the process.

You prepare CMA's, connect with home inspectors, engage in minor repairs, and the list goes on, in order to keep the client happy. And let's face it, a lot of the time they are not as happy as they should be.

Well, consulting can take care of all those negative, money sucking parts of the real estate industry. Tired of showings chipping away at your bottom line? Charge by the hour to show properties. Every CMA you prepare, every conversation, becomes billed hourly. No more unaccounted for hours chipping into the commission!

That's not all, either. Consulting can bring in money from those putting their property for sale on their own, money that would otherwise not be accessible to the real estate professional. Odds are that you will also attract a savvier clientele, as investors are prone to using consultants and their specific services over full service agents.

And the best part? Consulting works for the consumer as well. That means more and more people will be taking a look at using consultants over agents, and that the money will only go up.