Today, your clients have access to data and technologies that provide comparables and trends for most types of assets. The more sophisticated your clients get, the more you need to stay ahead of the curve. Provide value beyond that which is already available.
In my opinion, the next step or next level of sophistication is understanding the potential returns and future value of the asset, which requires an understanding of the zoning and construction costs. Today your clients need architects or zoning attorneys, and friendly contractors, to understand the value of an asset based on development potential.
But what if they can come to you?
Cities are changing to accommodate for economic growth. Part of this work is upzoning for additional density. In most cities we see downtown expanding. Single-family neighborhoods are flooded with duplexes, six story buildings are replaced by towers. When single-family neighborhoods have development potential, zoning and cost become second languages.
A broker/agent is a guide, a source of truth, a voice of reason, an educator. The more you know, the more you teach, the better you are at helping your client make the right decision.
