Sometimes, a bit of research uncovers an interesting question or a good subject for further discussion. That is definitely the case with a question about the difference between a financial planner and an advisor on property investment. Actually, the question is, “If you have a financial planner, do you also need an advisor who specialises in property?”
There could be several answers to this question, depending on who you ask. Some people believe that their financial planner delivers all the guidance they need. Others don’t have either of these professionals working with them so their answer would be no. However, it’s always wise to have a specialist on your side. So, the question, “Are you looking for a property investment advisor?” could be followed by “If not, why not?”
Know the Client
This is the first and essential step toward a good relationship between client and advisor. Only when both people understand the clearly defined financial goals of the client will there be a path to success. You won’t get the same personal attention from a buyer’s agent or developer’s representative that you always get from an experienced, professional advisor. That attention and advice is fully intended to benefit one client, one person – you.
You can also take this point of view: If you’re working for the right advisor, that individual will make sure that you’re not gambling, maybe not even speculating on property. The best method is one that is proven to work with a track record to go along with it. When your advisor presents several options for you to consider, you know that they are similar to property purchases that have been successful in the past. In addition, each one will fit your plans, your acceptance of risk, and your budget.
What you get from this professional input will be knowledge, information based on research, and advice based on long experience in this special sector. You will avoid major mistakes that are often part of the unadvised investor’s experience. You’ll benefit from the perspective a specialist brings because it’s based on a close study of property history.
Steady Wins the Race
When you work with advisors in the property investment field, you shouldn’t expect this professional to see into the future. They will give you their best information and their personal guidance but it’s impossible to predict numbers such as interest rates or market trends, except in the short term. Every professional in this industry should tell their clients the second-best time to buy is now. Years ago is the best time!
When you set your sights on finding a good advisor for your property acquisitions, keep in mind that free advice is anything but free. If you’re willing to pay a reasonable fee for reliable advice and personal guidance, you’ve found your source.