By Indhira Desangles
Today we are going to distinguish between a real estate advisor and a mediator, their meaning and characteristics, because we know that if you are going to buy or sell a commercial property and are going to use the services of a specialized realtor, you need to be clear on both concepts.
Real estate mediation and real estate consulting are two distinct terms. Let's look at the differences:
For example, advice is the act of suggesting, that is, offering advice from a legal person or consulting their opinion.
Imagine you rent a commercial space, but the property has financial burdens that you haven't been informed about.
This is because the consumer hired consulting services from the realtor, but the realtor did not complete the task by not informing the consumer of certain financial encumbrances on the properties acquired.
In this sense, the realtor acted as a real estate advisor but did not fulfill his duties.
Therefore, the real estate advisor is the one who helps the client navigate the real estate market, offering timely information on current trends and conditions.
A typical example is informing them of the average price of a commercial property in a given area and advising them on the legal status of the property.
In other words, the task of an advisor is to offer services tailored to the needs of their clients when renting a commercial space.
To do this, the real estate advisor or consultant must take into account the best interests of their client.
Hence the importance of having an ethical and deontological code that establishes the rules of conduct and a manual of good practices, among others.
What is mediation?
A mediation tries to bring two parties with different interests into agreement, for example, a landlord and tenant of a commercial property.
The main difference between a real estate agent or advisor and a mediator is that an agent's intention is to help the client achieve their personal goals. In contrast, a mediator's role is to bring together the positions of two different parties to achieve the objective of selling a property.
Real estate consulting is based on a different model and has a different approach than that of a broker. A consultant or advisor should help their client in every way possible.
To do this, you must offer them personalized and tailored services, including:
- Market research.
- Offer analysis.
- Provide detailed information.
- Offer legal advice.
- Accompany the client at the time of signing the contract.
In other words, an advisor is a real estate consultant. The problem arises when that consultant doesn't provide the necessary information. If we compare the pure definition of the term "mediator" with that of "agent," we can see that the main difference between the two is the level of commitment, experience, and knowledge.
Whatever you need, we're here for you. At desangles.properties, we are committed to our clients and have a strong sense of responsibility. That's why we have a code of ethics that we encourage our employees to uphold in their interactions with clients. Acropolis City Tower, 8th floor, Piantini, Santo Domingo, Dominican Republic. WhatsApp 809 669 3063. desangles.com
