Why should I use a Buyers Advocate?
by Arina Smith Real Estate 13 May 2021
Buying property is rarely ever a walk in the park. There can be so much competition out there. Especially for properties in highly sought-after areas. It takes a lot of time and effort to find the right house.
Securing it is another challenge altogether. As the property market becomes more competitive and demanding, buyers like yourself are becoming more aware of the services that Buyers Advocates offer.
Buyers Advocates used to be rare but they’re now becoming more and more common in the industry today. A Buyers Advocate provides experienced advice. They can help you work out your budget, search for ideal properties, and make offers for you at auctions when the time is right.
Does going out every weekend to look at properties seem like a pain? Or do you hate finding a great house only to lose it in an auction or a private sale? When you’re on your own the whole experience can be deflating. It can take almost a year until you find your dream property. Luckily a Buyers Advocate can speed up this whole process for you.
What is a Buyers Advocate?
A Buyers Advocate is a real estate professional who can locate, assess, and negotiate on your behalf when it comes to purchasing a property. Think of it as the opposite of a Real Estate Agent who acts on the behalf of a property seller. A Buyers Advocate is here to work on your behalf.
What can a Buyers Advocate do for me?
A Buyers Advocate can provide three main types of services:
- Property search
- Property evaluation
- Property acquisition
Some people require all three of these services. Some just require one service. So a full service from a Buyers Advocate could involve:
- Searching out properties based on your needs
- Evaluating properties in your chosen suburbs
- Negotiating purchase prices for properties you’re interested in
A Buyers Advocate can represent you regardless of whether you’re a home buyer or property investor. Your purchase goal could be one particular property or several that form part of a portfolio.
What’s the difference between a Buyers Advocate and a buyer’s Agent?
By definition, a Buyers Agent works alongside a selling agent within a real estate agency. These agents will always be affiliated with a real estate agency and work in the same office.
A Buyers Agent only deals with buyer inquiries on properties that are listed from one particular real estate agency. Their role helps to free up the selling agent who is busy focussing on listing properties and dealing with vendors.
A Buyers Advocate will always work independently. They do not represent a real estate agency. They solely represent your interests exclusively as a property buyer.
Why should I use a Buyers Advocate?
Successful Buyers Advocates know that it’s best to get in early. They provide you with the widest choice when it comes to properties to select. They make it their mission to have a comprehensive view of all properties available on the market that match your preferences.
Buyers Advocates also make it their business to narrow down properties that might be listed soon. Their personal experience and established networks make this task easy for them.
With a Buyers Advocate on your side, you can save an incredible amount of time looking for properties. An Advocate will save you days of work by shortlisting and searching for you.
They do all the essential groundwork. This helps free up your weekends and eliminates the need for you to attend open inspections. The result of your Advocate’s search will be a larger list of homes that automatically tick all your boxes.
A Buyers Advocate with expertise in investment properties will know which options are perfect for capital growth. Property investment relies on having a depth of experience and knowledge of market indicators which your Buyers Advocate will have in spades.
Negotiations and bidding:
One of the most sought-after services from a Buyers Advocate is the support provided during auctions and negotiations. An experienced Buyers Advocate won’t be intimidated or discouraged by fierce competition in the property market. They won’t get emotional and they will take a more objective approach when the pressure is on during an auction.
A Buyers Advocate will also be better prepared during an auction or negotiation. They are organized enough to come up with a better course of action when a scenario drastically changes. It’s their understanding of strategies and tactics that make them better prepared for moments during an auction. The same can be said for scenarios during off-market and on-market private sales.
Get more advice from the property market experts at Wise Real Estate Advice.