The property market is not an easy industry to understand. It’s highly technical, constantly changing and often on the way up or down at any given moment. In this industry, buying your first property or beginning your property investment journey can be daunting.
This is where a buyer’s advocate comes in. They are independent professionals who understand the process of locating, assessing and negotiating the purchase of properties on behalf of the buyer.
Often, having a buyer’s advocate is enough to give the buyer peace of mind, allow for less time wasted and speed up the overall buying process, which when done independently can take months or even years.
Before jumping into finding a buyer’s advocate, here’s all the information you need to know about them.
Who Are the Best Buyer Advocates?
Finding a great buyer’s advocate is hard work. Often, these advocates will work within real estate agencies and have specialisations on top of being licensed real estate agents. This is the case for the experts at Wakelin, Australia. Based in Melbourne, Wakelin offers both buyer advocates and vendor advocates to help make the process of buying and selling easier.
How Much Do Buyers Advocates Cost?
Fees for Buyers Advocates vary based on the level of service provided. A flat fee or a percentage of the property’s final sale price will be charged if they provide a full service. If you’re buying an investment property, hiring a Buyers Advocate is usually tax-deductible, but the savings negotiated from the purchase price will wipe out their fee.
Why Use a Buyers Advocate?
More Properties
The best Buyers Advocates are able to outdo the competition and give the buyer the best outcome. They make it their business to have an exhaustive image of the properties available matching your needs, and these include properties that are off-market or being privately sold too.
Time-Saving
Hiring a Buyer’s Advocate to find properties that meet your criteria can save you days of searching and shortlisting on your own. Your weekends will be free of the effort of organising all open houses, inspections and viewings that come with property purchasing. The paperwork will be organised for you, and even the legalities can be handled for you.
Skills in investment
A Buyers Advocate with expertise in investment will be familiar with the kinds of properties and their locations that offer better opportunities for capital growth. A thorough understanding of all market indicators and extensive experience are essential for successful investing.
Negotiation Skills
Buyers’ advocates are often hired for the assistance they receive during the auction and negotiation processes. During the process, experienced professionals will not be intimidated in any way and will maintain their objectivity and focus even when under pressure. Leading to better results for everyone involved.
With the above in mind, it’s clear that a buyer’s advocate is worth investing in, regardless of if you’re buying your first home or if you’re investing in property. The ability to have peace of mind during the buying process is well worth the fee.
