What exactly do "real estate consultants" do?
This is for places like the big 4. I assume those in MBB tend to do more portfolio and construction level work. It looks like a large part of the services are valuation services. Is it essentially another appraisal shop or is the work different in any other way?
Thanks.
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It really depends. I knew some people that did that and the umbrella is far reaching. Some were involved in specialized tax implications as it related to underwriting, and some were more involved with helping clients determine how to maximize property related KPIs, things like determining what floor to put certain workers on in an office development, how to maximize energy efficiency for a building, really all over the place. It seems to be a sort of catch all.
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I'm basically a project manager for hire at a large consulting company. Plan, execute, etc. major capital projects for various corporate clients. Not so much complex finance work, closer to the construction work.
Some examples depending on the shop. Some overlap definitely occurs but this gives you an idea based on what I've seen.
MBB and Deloitte Strategy - Corporate real estate projects aka reducing real estate costs and supporting general org goals with the real estate (think optimizing office / retail portfolios during mergers) Deloitte Strategy and CBRE, JLL, Cushman etc. - Location Strategy aka site selection (think "where should we open a new factory / build our new HQ") and Work Place Strategies (think "how do we set up our office to align with our culture" aka hoteling, etc.) Deloitte and other big 4 - Valuation work ("how much is this real estate worth?")
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