DISCLAIMERS AND DISCLOSURES
The information contained in this Website is based upon material furnished by the principals, listing brokers, and sources which we deem reliable - for which we assume no responsibility, but which we believe to be correct. Neither the listing agents, brokers, Ileri Ogunfiditimi, Ileri Commercial, Ileri Consulting, vendor partners, nor Nitro Realty shall be responsible for any typographical errors, misinformation, misprints, or other mistakes.
All property and business opportunity submissions are made subject to prior sale, exchange, rental, or other conditions, lease or financing, change in price or terms, or withdrawal without proper notice. When applicable, property and business opportunity submissions may include offering details such as cap rates, projections, opinions, assumptions, or estimates for example only, and they may not represent current or future performance of the investment asset. You and your inspectors, appraisers, tax, legal, and financial advisors should conduct your own investigation of the property or business opportunity and transaction.
We are an entrepreneurial service provider business and sell personalized client services and investment assets which may involve considerable risk-taking. Therefore, despite our best efforts to achieve results, there is no guarantee of success. Services rendered may be subject to speculation, personal client subjectivity and initiative, assignment suitability and variability, economic and market conditions, and unforeseeable factors and influences.
As fiduciary service professionals, we are charged with protecting the client's best interest and assisting clients in making informed decisions by providing information, solutions, recommendations, and/or material facts during the assignment. However, as advisors and "guides" we do not make decisions for our clients. Final decisions are always the responsibility of our clients. All client and/or customer business relationships and assignments are unique. Past results are no guarantee of future performance.
Ileri Commercial is a professional services business specializing in the sales, marketing, and acquisition of commercial and investment real estate, and business investment opportunities. It is an independent contractor sales practice owned and operated by Ileri Ogunfiditimi in affiliation with Nitro Realty, a principal and sponsoring brokerage firm. Ileri Commercial is a privately held enterprise not a subsidiary or direct partner of Nitro Realty.
Ileri Ogunfiditimi is a self-employed, independent contractor (IC) commercial-investment real estate associate, business opportunities broker, and specialty private consultant. He is a licensed real estate salesperson and legal fiduciary representative commissioned to provide brokerage services in the U.S. jurisdictions of Washington, DC and Maryland in affiliation with and under the sponsorship of Nitro Realty. Ileri Ogunfiditimi is not a direct employee of Nitro Realty.
Commercial-investment brokerage and business opportunities brokerage ("representation" or "transaction") services are offered through Ileri Ogunfiditimi's strategic alliance with Nitro Realty. Private consulting and advisory ("non-representational" or "non-transactional") services are independently offered by Ileri Ogunfiditimi and Ileri Consulting™ in accordance with the best practices of the Independent Consulting Industry, Appraisal Foundation's Business Valuation Standards 9 and 10 of the Uniform Standards of Professional Appraisal Practice (USPAP), NAR Code of Ethics, and definition of real estate counseling services developed by The Counselors of Real Estate (CRE) (formerly known as The American Society of Real Estate Counselors [ASREC]) of the National Association of REALTORS® (NAR). We are not members of the CRE nor do we offer a' la carte, discounts, rebates, and transaction "fee-for-services" (i.e., unbundled real estate transaction consulting or limited transaction brokerage services).
Real Estate Consulting and Advisory (Counseling) Services
Inside the real estate industry, few people have a clear idea of what real estate counselors or consultants do. According to the 2020 Commercial Member Profile of the National Association of REALTORS®, only 2% of all commercial members practice independent consulting or counseling. The profession is also still unknown to many consumers. So the intent of this brief synopsis is to provide consumers with more understanding. There are two primary categories of real estate consulting, advisory, or counseling: transactional and non-transactional.
Transactional Consulting is commonly practiced in the residential real estate industry and requires the use of a professional license since the consultant is still acting in the role of an Agent. In transactional consulting, the agent-consultant is actively involved in the real estate transaction by offering transaction "fee-for-services" (i.e., a-la-carte or piecemeal brokerage services). This is also known as unbundled real estate transaction consulting and limited transaction brokerage. The two premier leading business organizations in this area of consulting are The Consulting Professional-Accredited Consultant in Real Estate® and The Real Estate Learning Group®.
In contrast, Non-Transactional Consulting does not require the use of a professional "real estate-related" license because the consultant offers only intelligence services and is not involved in the real estate transaction nor acting in the role of an Agent during the counseling assignment. Non-Transactional Consulting is more common in the commercial real estate industry, public sector, academia, investment and finance markets, and various corporate and private business environments. However, each consulting approach is interchangeable and can be applied to either discipline. In our practice, we provide only non-transactional business consulting and advisory services in the subspecialties of commercial-investment real estate and business investment opportunities.
Our real estate and business opportunities counseling (or consulting) is not brokerage or management, which are nonadvisory functions characterized by the commission-only form of compensation and creation of a representative client relationship. Nor is it mortgage banking, real estate development, or asset management. It is distinguished from these occupations by not establishing a client representation or transaction relationship, and by its fee-based (not a commission) method of compensation.
The Counselors of Real Estate (CRE) (formerly known as The American Society of Real Estate Counselors [ASREC]) is the premier leading international trade organization in the "non-transactional" real estate counseling and advisory field, founded in 1953, and an affiliate of the National Association of REALTORS®. Ileri Ogunfiditimi and Ileri Consulting voluntarily adheres to CRE's/ASREC's definition of professional real estate counseling as follows:
"Providing competent, disinterested and unbiased advice, professional guidance, and sound judgment on diversified problems in the broad field of real estate involving any or all aspects of the business such as merchandising, leasing, management, planning, financing, appraising, court testimony and other similar services. Counseling may involve utilization of any or all of these functions. Real estate counseling, then, is the offering of advice on a broad basis in all aspects of real estate as delimited by the client's needs. The word "Advice" does not refer to off-the-cuff, intuitive, gratuitous or impulsive advice. "Advice" means considered judgment arrived at after careful investigation, discussion and deliberation with the principals involved. It is fully documented opinion given after all factors have been considered. It is consultation, with the reasoning spelled out in a written or oral report, and for an agreed fee. The counselor performs his work as a separate and distinct undertaking, divorced from the usual functions of real estate brokerage. He is not an agent in real estate transactions. The product he sells is the creation of his mind - his advice born of experience, blended with wisdom, tempered by judgment, and supported by facts. The counselor treats each problem individualistically. His conclusions generally cannot be applied except to a particular client or group of clients, or to a specified project or property; and the success of his endeavors is measured by the extent of acceptance and utilization of his services by his client." (ASREC)
"The act of providing advice or guidance which significantly affects real estate decisions, without personal bias and/or conflict of interest." (CRE)
Independent (Private) Business and Consumer Consulting Services
Independent or Private Consulting is also non-transactional and unrelated to the brokerage services industry. Independent Consulting involves the delivery and/or implementation of intelligence services encompassing many different fields, industries, areas of expertise, and educational backgrounds. Private consultants may be compensated by a variety of professional project fee arrangements, including hourly, daily, fixed-fee, advance deposits, retainer, progress payments, percentage fee (also called an equity fee or, in more recent times, a value-based fee), or a combination of such fees.
Ileri Ogunfiditimi and Ileri Consulting follows the Independent Consulting Industry's Best Practices and provides commercial investment real estate and business opportunities counseling services on a non-contingent fee (not a commission) basis. Independent Consulting has been defined by several industry experts and thought leaders as follows:
"Consulting is providing information and advice in exchange for a fee." (Howard L. Shenson)
"Consulting is the science of providing objective business relevant guidance and counsel to decision makers without possessing an ownership stake in the decision. (Herman Holtz and David Zahn); "a special way to practice a profession by using one's special skills and knowledge to help clients solve problems." (Herman Holtz)
"A consultant is someone who improves the client's condition by providing skills, behaviors, content, advice, experiences, and other factors unique to that individual over a designated time. The consultant is a peer of the buyer and creates assignment parameters in consultation and agreement with the buyer. The consultant provides intellectual capital, often in the form of intellectual property." (Alan Weiss)
"A consultant is simply anyone who gives advice or performs other services of a professional or semiprofessional nature in return for compensation." (William A. Cohen)
"The term, consulting, or consultant, is overused and often misused. In the simplest form, consulting is giving advice to some-one. When you expand this definition, a consultant is an expert who specializes in a specific field and gives advice, counsel, and related services in that field for a fee." (William J. Bond)
"A consultant is someone who sells his or her unique expertise to someone else. This expertise can be anything from showing someone how to properly lay out, plant, and fertilize an organic garden, to analyzing and recommending changes to a com-plex aerospace manufacturing operation." (Bob Nelson and Peter Economy)
Consulting can be defined as providing independent services to meet a variety of clients' needs in exchange for money. (Susan Nash)
For further perspective, The American Heritage dictionary defines consultant as "a person who gives expert or professional advice." Here are some synonyms for Consultant: Advisor, Counselor, Expert, Specialist, Authority, Freelancer, Mentor, Pro, Guide, Helper, Advocate, Coach, Teacher, Instructor, Tutor, and Trainer. (www.thesaurus.com)
Although licensed as a real estate agent and business opportunities salesperson, Ileri Ogunfiditimi provides fee-based professional commercial-investment and business opportunities consulting, advisory, or counseling services that are separate, distinct, and apart from the standard brokerage transaction. Consulting and advisory services are offered only through Ileri Consulting and not in affiliation with Nitro Realty. Ileri Consulting is a privately owned company. When providing private business consulting or counseling services, Ileri Ogunfiditimi is an independent contractor (IC) and does not operate as an agent, client representative, employee, or otherwise.
Ileri Ogunfiditimi and Ileri Consulting operates solely as a specialty Independent (Private) Consultant, Advisor, or Counselor during consulting engagements; providing customers with specific objective intelligence services including, but not limited to, specialized knowledge, information, advice, suggestions, and/or recommendations based on the customer's needs and goals. Consulting implementation services and training and development services are distinct from advisory services and provided on a case-by-case basis. If implementation or training and development services are to be provided, a separate project engagement fee and agreement may be required.
In compliance with the National Association of REALTORS®' Code of Ethics and Standards of Professional Practice, Standard of Practice 11-3, if brokerage, transaction, or agency services are to be provided at the conclusion of consultative services, a separate client representation agreement will be executed and a separate commission-based compensation may be paid with prior agreement between the client and Ileri Ogunfiditimi. Brokerage, transaction, or agency services are only offered and delivered through Nitro Realty.
For more information, please contact:
Ileri Commercial/Nitro Realty
10411 Motor City Drive, Suite 750
Bethesda, MD 20817, USA
Brokerage Office: +1 (888) 444-9964, Ext. 123
455 Massachusetts Avenue NW, PMB # 232
Washington, DC 20001, USA
Private Office: +1 (202) 380-9464
Private Fax: +1 (866) 283-7840