What is a Buyer’s Advocate and how can they help you if you’re buying property?
Buyer’s Agents are often referred to as the buyer’s advocate. They are licensed professionals who specialise in providing a service to those who are purchasing real estate. They remove the pain of searching, evaluating and negotiating the purchase of a property. They work solely on behalf of the buyer – not the seller or real estate agent.
The main benefits when engaging a Buyer’s Agent is that they take the pain out of finding the right property at the right price in the right location to provide the highest return for your money.
There are a number of considerations if you are searching for help either buying your first home, or growing an investment portfolio. Like property, not all Buyer’s Agents are the same you should look for a service that meets all your needs.
The main thing that affects every person searching for property, regardless of whether you are a first-home buyer or a seasoned investor is that finding the right property takes time, and it is usually your precious down time with family and friends.
Using a Buyer’s agent who is working solely for you gives you back that precious time.
Buyer’s Agent save you time & money
Using a professional whose job is to spend their time in the real estate market means they have the market knowledge, experience and contacts. This means you will have a professional searching and evaluating properties for your unique situation but you will also have access to local professionals that can expedite the offer to settlement process. Buyer’s Agents also have access to non-advertised and off market opportunities that is not available to the general public.
You can save countless wasted hours on overpriced properties and miss out on real estate opportunity by doing it yourself. This means you not only save time but will secure your property at the right price by using a Buyer’s Agent whose role is to be your buying advocate.
Your weekends would be freed up to attend inspections and focus only on properties that meet all your criteria.
What is the Process
The first contact with your Buyer’s Agent is to establish your goals, some things discussed will be, are you:
- Purchasing a property to live in
- Starting or growing your investment portfolio
- Purchasing Residential, Commercial, Industrial property
- Interested in positive & negative gearing
- Looking in a specific location & need local help
There are many things in the initial meeting that will be discussed. Through this interaction both parties will gain insight into each other. You are engaging someone to share a very personal journey, you need them to have all the business credentials to deliver the results you want, but you also want to be able to communicate openly and easily. You need to trust that your Buyer’s Agent is the best professional for your unique situation.
During this meeting a proposal will be discussed for your situation and then a plan formulated to achieve results. Searching and evaluating property will begin very quickly if you agree to engage the Buyer’s Agent. They will be looking for specific types of property you need with key criteria in mind, such as paying the right price for the property, proposing properties that will deliver high yield on your spend, delivering on the lifestyle and budget considerations.
Due Diligence
Doing due diligence is an everyday task for a Buyer’s Agent. When they propose a property to you for consideration you will be assured that every search and check has been done. This ensures that for you the buyer there are no surprises down the track.
Negotiation
All Buyer’s Agents are skilled negotiators and acting on your behalf can remove the emotion that often accompanies real estate purchase. They will act on your behalf to secure the best price for a property and not waste your hard earned cash.
Auction
If the property you have selected goes to auction, you will be in good hands with your Buyer’s Agent. They will act on your behalf and use their auction skills to time their bids to your advantage. You will never pay more than the property is worth.
Settlement and beyond
Your Buyer’s Agent does not stop working when the offer is accepted, they will assist you right up to settlement date and beyond. If you are not a local in the area of purchase they have networks designed to assist you in any way you need.
When the weekend rolls around after a long week at work or just living life don’t spend your precious time treading the real estate pathway. Hand that over to a Buyer’s Agent – your buying advocate.
