Why you'd use a buyer's advocate and what to look out for

Buying a home or an investment property can be a daunting process. Knowing where to start and how to negotiate a good deal can leave some people feeling a little overwhelmed.

Purchasing a property can also be a time-consuming process, from finding the right location to negotiating a good price.

That’s where hiring a buyer’s advocate can come in handy. You can ease the stress of navigating the property market and save yourself time by making the most of their industry knowledge and expertise.  

What does a buyer’s advocate do?

A buyer’s advocate is a real estate professional who will find out what you want in a property and do a lot of the legwork for you in the searching, inspecting, negotiating and purchasing phases.

They can save you time and money by providing you a shortlist of properties, attending auctions on your behalf or may even find you an off-market hidden gem. 

Benefits of using a buyer’s advocate

Buyer’s advocates have access to current market data and an in depth knowledge of the area you’d like to buy in. So already, you’ve saved yourself time and are closer to securing your dream home or investment property.

Having a buyer’s advocate negotiate on your behalf also evens the playing field. Real estate agents are tasked with getting the best price for their clients, and you may end up paying above the market value of the property if you’re a little ‘green’.

A buyer’s advocate can also help in the decision making process by remaining objective, particularly when at auction and emotions are running high.

What are the downsides?

Using a buyer’s advocate can be costly. Some - although not all - buyer’s advocates cater primarily to high-end property buyers, interstate or overseas investors or commercial property investors. 

Hiring the right buyer’s advocate can be tricky too. If they don’t understand your needs or have an appropriate real estate license, then you may be given poor advice or incorrect information.

How to choose a buyer’s advocate

To avoid potential issues, knowing how to choose a buyer’s advocate is important.

Ask about their experience, if they’re licenced or a member of an association such as the Real Estate Buyers Agents Association of Australia (REBAA).

You’ll also want to read their customer reviews, and perhaps even speak to some of their previous clients. Last, find out whether  they earn a commission from vendors or developers, and make sure you get clarity on whether they charge a flat fee or a percentage of the property’s price.

Considering these factors will help ensure you find the right buyer’s advocate and secure your dream home - or investment property - with confidence. 

Get in touch if you’d like our recommendations for switched on, ethical buyer’s advocates in the area.

Australians are selling property left, right and centre.

We must have one of the most robust property markets in the world. And here's another piece of research to prove it.

Data released by one of the Big Four banks shows that at least 1 in 10 homeowners are in the process of selling up, while 1 in 3 are considering selling their home in the next five years.

Many are motivated by a desire to upgrade to a more lifestyle-friendly home, or at least one that incorporates a home office.

And who can blame them? The combination of historically-low interest rates, improved consumer sentiment and our robust economy are creating confidence that they'll secure a hefty sale price.

There is also significant demand from first home buyers, with 1 in 5 Australians planning to buy a first home in the next five years.

So, what do you need to consider when selling your property? Here are some of the costs involved:

Listing with an agent

Most Australians choose to enlist a professional real estate agent to sell their homes. If you follow suit you'll be up for marketing costs, the agent's commission, and potentially auctions costs as well.

Sprucing up any kitchens and bathrooms

Kitchen and bathrooms can date quickly, and so many buyers invest in making minor cosmetic changes to these wet areas to help modernise the overall look and feel of the property.

Landscaping the garden to improve kerb appeal

Let's face it, we're all just a bit shallow, and having an attractive street frontage can be enough to convince a prospective buyer to inspect your property. And of course more interest can generate a better price.

Mortgage early exit fee

One of the many and varied reasons why it's worth securing your home loan through a trusted finance broker - because you don't want the fine print to bear any nasty surprises!

Conveyancing fees

This is an essential service required to transfer the ownership of the property from you to the buyer, and will usually cost between $1-2k.

Reach out if you need help covering the difference between your sale price and your forever home.