The real estate investment adviser is an expert who advises on the purchase,sale, rental, and financing of land and buildings for non-residential use, thatis, of spaces that are intended for commercial purposes (offices, logisticsareas, hospitals, car parks, centers business and leisure, etc.). His job is essential to assess the profitability of a realestate investment, that is, calculate what performance can be obtained from theproperty, whether the goal is to develop it and then sell it or if the purposeis to exploit it through their rent.
Unlike residential real estate (flats, houses, towers,apartments, etc.) the valuation of the commercial real estate is not made fromthe comparison with similar ones in the same area, although it can be a methodto support the cost, calculating the yield that the investment can generate. The advisors who work in real estate promoters, in additionto carrying out feasibility studies, must perform a job of searching for landto build or real estate to rehabilitate and forecasts on the levels of occupationand the expected income.Real estate investment advisers who carry out their activityin banking also carry out valuations and feasibility studies, but in theircase, they do so to decide whether or not to finance operation and under whatconditions. They study the feasibility of the project presented to them by aclient -investor or developer- and if they believe that the initiative hasguaranteed they ‘lend’ the money necessary to finance it.
What training do youneed?Most real estate investment advisors are architects,technical architects, law graduates and graduates in economics, business oradministration and business management. Architects come to the profession because of the technicalknowledge they possess about the construction and uses of the commercial realestate; lawyers because they dominate the ins and outs of regulations relatedto permits, licenses, etc., and economists because they are experts in modelingand cash flow discounts.
All of them must be right negotiators and possess an enormouscapacity for analysis.In recent years, the offer of courses, masters andpostgraduate courses specializing in real estate investments has allowed newprofessionals to enter the market with higher specialization.What job prospectsdoes it have?The primary job opportunities of real estate investmentadvisers are in the consulting companies in the sector, which pieces of adviceon purchases, sales, rentals, etc. and manage assets of investors (issueinvoices to tenants, pay taxes on farms, etc.
); the promoter companies and thebanks. The offer of employment in the field of real estateinvestment advice is maintained, so it is possible to find work with relativeease and promote in the same company or changing company. Experienced professionals can get proper remuneration,mainly if they work in real estate banking or advising international investors.SourcesInformation prepared with the collaboration of AdolfoFavieres, Director of Corporate Development of HYPO Real Estate Capital Iberiaand professor of the Options & Futures Institute.