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, that
is, of spaces that are intended for commercial purposes (offices, logistics
areas, hospitals, car parks, centers business and leisure, etc.).
His job is essential to assess the profitability of a real
estate investment, that is, calculate what performance can be obtained from the
property, whether the goal is to develop it and then sell it or if the purpose
is 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 from
the comparison with similar ones in the same area, although it can be a method
to support the cost, calculating the yield that the investment can generate.
The advisors who work in real estate promoters, in addition
to carrying out feasibility studies, must perform a job of searching for land
to build or real estate to rehabilitate and forecasts on the levels of occupation
and the expected income.
Real estate investment advisers who carry out their activity
in banking also carry out valuations and feasibility studies, but in their
case, they do so to decide whether or not to finance operation and under what
conditions. They study the feasibility of the project presented to them by a
client -investor or developer- and if they believe that the initiative has
guaranteed they ‘lend’ the money necessary to finance it.
What training do you
Most real estate investment advisors are architects,
technical architects, law graduates and graduates in economics, business or
administration and business management.
Architects come to the profession because of the technical
knowledge they possess about the construction and uses of the commercial real
estate; lawyers because they dominate the ins and outs of regulations related
to permits, licenses, etc., and economists because they are experts in modeling
and cash flow discounts.
All of them must be right negotiators and possess an enormous
capacity for analysis.
In recent years, the offer of courses, masters and
postgraduate courses specializing in real estate investments has allowed new
professionals to enter the market with higher specialization.
What job prospects
does it have?
The primary job opportunities of real estate investment
advisers are in the consulting companies in the sector, which pieces of advice
on purchases, sales, rentals, etc. and manage assets of investors (issue
invoices to tenants, pay taxes on farms, etc.); the promoter companies and the
The offer of employment in the field of real estate
investment advice is maintained, so it is possible to find work with relative
ease 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.
Information prepared with the collaboration of Adolfo
Favieres, Director of Corporate Development of HYPO Real Estate Capital Iberia
and professor of the Options & Futures Institute.