A buyer’s advocate gives you a competitive edge in property. Find out why this professional is an essential addition to your home buying experience.
Even after the ups and downs of 2020, property values managed to hold far stronger than forecast in most capital cities, including Melbourne.
In fact, as reported in late December by Domain.com.au, houses and apartments in Melbourne’s inner-city suburbs were listed for fewer days and are not being discounted by as much as they were a year earlier.
It’s great news for property owners but it demonstrates that in the current, highly competitive market, it pays for property buyers and investors to recognise the value of expert assistance.
In this case, we’re talking specifically about a buyer’s advocate (also known as a buyer’s agent). Here’s why we recommend you reach out to this professional.
Why use a buyer’s advocate
While a real estate agent is always working on behalf of a seller to attract as many buyers as possible and get the highest offers, a buyer’s advocate is on the other side of the ring, alongside the people who want to buy a home.
Whether you are buying or investing, from sourcing the right property to negotiating the final price, the process is highly involved and daunting for an inexperienced buyer. This is why we recommend you use a buyer’s advocate.
Using a professional like this is a key strategy for buyers who want to get into the market or upsize. It also makes sense for investors who know that building a diverse property portfolio is one of the best ways to create wealth in Australia but simply don’t know where to begin.
The benefits of a buyer’s advocate:
Removing the guesswork
A buyer’s advocate will present you with the hard facts and help you to make calculated, well-informed decisions.
This will save you hours of time on due diligence, which you may have been flying blind with anyway. Your buyer’s advocate knows the value of homes in the area, what they have been selling for lately and how much is too much when it comes to making your final offer.
Managing the process
A buyer’s advocate can guide you through the entire purchasing process so you have confidence in your decisions.
They will go to work for you by sourcing your ideal properties, liaising with agents and negotiating on your behalf.
Fair representation of interests
While we would never go so far as to say you can’t trust real estate agents, it is the seller’s best interests they have in mind.
A buyer’s advocate will provide unbiased advice that represents your interests above anything else. This really helps to level the playing field when you are making offers.
Save time and money
A buyer’s advocate can minimise risk when searching for, identifying and analysing the investment options most suited to your personal financial position.
Not only will they save you the hassle of visiting endless open homes, your advocate will be able to access off-market investment opportunities or exclusive projects that are not available to the public market. This may give you the edge as the preferred buyer, ahead of the crowd.
Identifying sound investments
A buyer’s advocate is equipped to identify the suburbs with greatest capital growth potential or rental yield prospects. They will ensure you have building and pest inspections and act as the voice of reason so you don’t pay too much.
Agent and service provider liaison
A buyer’s advocate can liaise between you and all third party consultants – connecting you with financial planners, mortgage brokers, accountants, conveyancers, architects, builders and developers. This provides one port of call, rather than dealing with multiple parties.
Your advocate can also place offers on your behalf with a cool head and a clear strategy.
Property Agencies such as Riveren Property are seeing buyers reap the benefits of a buyers advocate first hand, and not only in the investment, but in the process – especially when bidding at auction. Acting diligently on behalf of their client, an agent removes the emotional bias from a purchase, which can make an enormous difference for the investor.
“The number one problem our clients face is that they simply don’t have enough time or energy to dedicate themselves to going through all the different steps and processes involved in purchasing an investment property.”
– Director of Riveren Property, Sophorn En.
Mr En said clients often feel overwhelmed which can cause them to back out of the whole process and “ultimately pay the biggest price by missing out entirely.”
As an investor or homebuyer, you will feel very prepared when using a buyer’s advocate.
Looking to buy? Talk to TM Finance Group about Buyer’s Advocate recommendations or get in touch to discuss your finance options.
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