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Real estate consultant hiring summary. Here are some key points about hiring real estate consultants in the United States:
Here's a step-by-step real estate consultant hiring guide:
A real estate consultant is an individual who provides specialized investment and financial advice to clients who are looking to buy, sell, or invest in property. A real estate consultant must provide as many details as possible so that the client can make their decision and avoid problems in the process. They provide clients with value-added services such as asset management, market analysis, and lease management. Real estate consultants must also work with a variety of clients, including construction companies, business owners, or third-party investors.
The real estate consultant hiring process starts by determining what type of worker you actually need. Certain roles might require a full-time employee, whereas part-time workers or contractors can do others.
A real estate consultant's background is also an important factor in determining whether they'll be a good fit for the position. For example, real estate consultants from different industries or fields will have radically different experiences and will bring different viewpoints to the role. You also need to consider the candidate's previous level of experience to make sure they'll be comfortable with the job's level of seniority.
The following list breaks down different types of real estate consultants and their corresponding salaries.
| Type of Real Estate Consultant | Description | Hourly rate |
|---|---|---|
| Real Estate Consultant | Real estate brokers and sales agents help clients buy, sell, and rent properties. Although brokers and agents do similar work, brokers are licensed to manage their own real estate businesses... Show more | $29-66 |
| Home Agent | Home Agents are responsible for negotiating the letting and sales of residential home properties through liaising with clients, property professionals, and solicitors. Their duties include gathering property information, reaching out to sellers about the property, estimating property value, and marketing properties for sale... Show more | $7-17 |
| Apartment Leasing Agent | Apartment leasing agents are professionals who are working on behalf of apartment owners to find potential tenants. The agents manage the signing of leases and provide existing tenants with customer service... Show more | $12-19 |
| Rank | State | Avg. salary | Hourly rate |
|---|---|---|---|
| 1 | Massachusetts | $114,033 | $55 |
| 2 | New York | $110,474 | $53 |
| 3 | California | $109,886 | $53 |
| 4 | Washington | $105,720 | $51 |
| 5 | Connecticut | $104,997 | $50 |
| 6 | New Jersey | $102,675 | $49 |
| 7 | Texas | $101,202 | $49 |
| 8 | Michigan | $100,226 | $48 |
| 9 | Pennsylvania | $97,592 | $47 |
| 10 | Virginia | $94,402 | $45 |
| 11 | Georgia | $88,602 | $43 |
| 12 | Colorado | $87,352 | $42 |
| 13 | Ohio | $85,580 | $41 |
| 14 | Missouri | $85,140 | $41 |
| 15 | Iowa | $82,386 | $40 |
| 16 | Indiana | $79,506 | $38 |
| 17 | Maryland | $79,255 | $38 |
| 18 | Arizona | $78,047 | $38 |
| 19 | Kansas | $68,054 | $33 |
| 20 | North Carolina | $67,377 | $32 |
| Rank | Company | Average salary | Hourly rate | Job openings |
|---|---|---|---|---|
| 1 | Marcus & Millichap | $103,652 | $49.83 | 147 |
| 2 | QuintilesIMS | $101,073 | $48.59 | |
| 3 | A.C.Coy | $99,041 | $47.62 | |
| 4 | Ernst & Young | $97,357 | $46.81 | 591 |
| 5 | Maryland | $96,372 | $46.33 | |
| 6 | OfferPad | $96,372 | $46.33 | |
| 7 | Canadian Imperial Holdings, Inc. | $96,372 | $46.33 | 4 |
| 8 | Brighton Jones | $96,325 | $46.31 | |
| 9 | PSCU Financial Services Inc | $95,784 | $46.05 | |
| 10 | JLL | $94,654 | $45.51 | 7 |
| 11 | RSM US | $94,259 | $45.32 | 13 |
| 12 | FTI Consulting | $92,044 | $44.25 | 1 |
| 13 | Friedman | $92,022 | $44.24 | 4 |
| 14 | Deloitte | $90,504 | $43.51 | 110 |
| 15 | Edward Jones | $88,431 | $42.51 | 1 |
| 16 | Heartland Credit Union | $87,578 | $42.10 | 2 |
| 17 | Accenture | $86,988 | $41.82 | |
| 18 | Baird & Warner | $86,485 | $41.58 | 1 |
| 19 | Wells Fargo | $85,173 | $40.95 | 12 |
| 20 | International Planning Alliance | $84,990 | $40.86 |
A real estate consultant job description should include a summary of the role, required skills, and a list of responsibilities. It's also good to include a salary range and the first name of the hiring manager. Below, you can find an example of a real estate consultant job description:
There are various strategies that you can use to find the right real estate consultant for your business:
Your first interview with real estate consultant candidates should focus on their interest in the role and background experience. As the hiring process goes on, you can learn more about how they'd fit into the company culture in later rounds of interviews.
Remember to include a few questions that allow candidates to expand on their strengths in their own words. Asking about their unique skills might reveal things you'd miss otherwise. At this point, good candidates can move on to the technical interview.
The right interview questions can help you assess a candidate's hard skills, behavioral intelligence, and soft skills.
Once you've selected the best real estate consultant candidate for the job, it's time to write an offer letter. In addition to salary, this letter should include details about the benefits and perks you offer the candidate. Ensuring that your offer is competitive is essential, as qualified candidates may be considering other job opportunities. The candidate may wish to negotiate the terms of the offer, and you should be open to discussion. After you reach an agreement, the final step is formalizing the agreement with a contract.
It's also important to follow up with applicants who do not get the job with an email letting them know that the position is filled.
After that, you can create an onboarding schedule for a new real estate consultant. Human Resources and the hiring manager should complete Employee Action Forms. Human Resources should also ensure that onboarding paperwork is completed, including I-9s, benefits enrollment, federal and state tax forms, etc., and that new employee files are created.
Before you start to hire real estate consultants, it pays to consider both the one-off costs like recruitment, job promotion, and onboarding, as well as the ongoing costs of an employee's salary and benefits. While most companies that hire real estate consultants pay close attention to the initial cost of hiring, ongoing costs are much more significant in the long run.
The median annual salary for real estate consultants is $92,358 in the US. However, the cost of real estate consultant hiring can vary a lot depending on location. Additionally, hiring a real estate consultant for contract work or on a per-project basis typically costs between $29 and $66 an hour.