Any CRE consultants out there? Looking for advice.
So, I had a sort of realization last week while working with yet another client - the types of services that my clients come to me for are unique from those services  I thought I was providing. Rather than the 'tell and sell' model most agents use, I realized I have a deeper and fuller understanding of the CRE picture in my market. I have been sharing loads of insight, recommendations and advice for free when in reality this is what  I should be selling. I'm now interested in learning how to market myself as a consultant rather than an agent - is there anyone out there with advice, experience, etc that would be willing to share how they do it? And, maybe, how they decided that it was a better fit than general sales? Thanks!
[{"id": "cqjuabv", "text": "Where I come from, that's just called being a great broker.  What kind of \"insight\" are you giving, exactly?  If you are letting them in on an off-market deal or something like that, and they are an investor, put your money where your mouth is and become a minority partner in that venture.  If you are negotiating incentives, yes you can get paid for that. But unless you are putting together large, long financial and analytic market reports that take 100+ hours, you aren't doing consulting.  Use it to grow your  business and become a market leader!", "replies": [], "depth": 1}, {"id": "cqkgq0t", "text": "At our brokerage we have a commission schedule and on that schedule there is a section for consulting fees. ~$250/hr iirc, much like an attorney or lobbyist would bill. My senior broker charges consulting fees because he has been in the market his whole life, owns the brokerage, has a bunch of people who need to speak with him, and has great connections with people in the city. It's worth it for his clients. This wouldn't work for me though, I need to give clients as much information as possible so that they are confident in me.", "replies": [], "depth": 1}, {"id": "cqkvo6q", "text": "Can you give examples of your unique services?  \n\nAs others said, charging consultation fees (either hourly or per service) is certainly possible, you can even credit these to commissions if the deal closes.  Your success in that is going to vary very largely on your skillset and book of business I'd think.  \n\nI don't know if this is an issue or not but I'd be careful about adding extra liability to yourself if you are engaging in things outside the scope of your real estate training &amp; licenses.  For example if you are assessing a structure as a broker/agent you are fine to give impressions (and hopefully provide recommendations to general contractors/architects etc).  If you start billing for 'site assessment fees' or something similar you might be paying a dangerous game if you do miss something where as other wise you can get away much more easier by saying you had recommended a professional assess it.  I could see the same coming up too when you start charging itemized fees for contract/lease review/consulting and do not a law a degree.  \n\nMaybe its not a big deal, but I'd just be real careful about how you word stuff like that.\n\nThere was a brokerage here a while ago that kind of bucked the standard model in a way I believe you are talking about.  I didn't work for them so my details may be a bit off, but my understanding is they specialized in office and basically sold themselves are CRE Consultants.  They would retainer clients and bill hourly (I believe).  In addition to the RE they had inhouse designers, architects, etc and would literally handle everything from site selection, to build out, to negotiation to making sure the moving company showed up on time and things were placed where they went.  Basically if you want to move offices, you call them and they handle EVERYTHING.  \n\nI thought it was interesting.  I did a deal with them (I was list side) and they were really on top of everything, it was night and day to working with most other agents.  They also didn't charge tenant rep commissions so I got both sides ;)", "replies": [{"id": "cql4c2o", "text": "My skills fall towards the research and analysis side of things. I've got a background as head of research at a big well known CRE firm. I had not intended to conduct business that fell outside of my RE license- but that was good to point out. I'm thinking things such as:\n\nOpinion of value\nLease vs buy analysis\nTrends in market analysis - deep dive\n\n\nNot sure how to word this  but also taking into consideration a business that is relocating, what their needs are and who their clients and potential clients are...helping guide them to emerging areas within the market where they will be positioned for future growth while keeping bottom line in mind ( advising them on areas that are up and coming where they can still get a deal), etc.\n\nBasically, I'm working with individuals now where I give my time and these services and sometimes deals don't pan out... I'd like to make sure going forward I'm compensated for my time put in. Hope that made sense.\n\n", "replies": [{"id": "cql8d3d", "text": "Ahh- what you are talking about is CORPORATE real estate.  Does your company have a corporate services group?  What you should be doing with that skill set is helping guys chase national accounts.  Do you have any clients that have a national presence?", "replies": [{"id": "cqldsja", "text": "They don't - perhaps I should investigate a firm that does. thank you for the clarification! ", "replies": [], "depth": 4}], "depth": 3}], "depth": 2}], "depth": 1}]