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Why use a Buyers Advocate ?

 

Allow me to address the question I would ask, if I were in your position.

“Why don’t I do it myself?”

Three reasons: Time / Research / Money

Most of us have incredibly busy lives with careers, family, health and are essentially time poor and usually don’t have the time to attend copious numbers of "open for inspections".

You have limited resources for researching any potential properties for purchase and because most people will only buy property once or twice in their lifetime, they generally don’t have the skills to negotiate the appropriate price.

Using a Buyers Advocate or Buyers Agent, makes total sense.

I’m sure most of you use an accountant for your tax and a lawyer for your legal affairs.

You wouldn’t contemplate navigating through your own tax or any potential legal work.

So, when it comes to negotiation on property, inexperience in the process of buying a property, even the smallest of mistakes, can cost you thousands.

Remember a Buyers Advocate works for you, not the owner.

They will save you time, money and angst.

Buyers Advocate Vs Do It Yourself

Buyers Advocate

Time

  • Buyer instructs Buyers Agent on ideal property criteria.
  • Buyers Agent provides you with list of properties they believe fits the criteria.
  • Buyers Agent contacts Real Estate agents for any “off market” opportunities.
  • Buyers Agent contacts Developers for any “off market” opportunities.
  • Inspects all suitable properties, including any off market opportunities. (Weekends and again midweek)
  • Refines search criteria with your feedback.
  • Short lists 2-3 properties for you to view.
  • Arranges an appointment, at a time to suit you, to inspect the property. (Usually via private appointment)
  • Discusses process of making an offer on a suitable property.

Research

  • Access to subscription sites such as RP Data
  • Access to off market properties through contacts with Developers and Real Estate Agents.
  • Reports generated on rental prospects of targeted property.
  • Reports generated on history of any targeted property.
  • Reports generated on suburb of targeted property.
  • Body corporate history, if appropriate.
  • Research on Real estate.com.au
  • Research on Domain.com.au

Negotiation

  • Real Estate Agents like dealing with Buyers Agents. They appreciate you have employed a Buyers Agent and take any offer more seriously.
  • Clergy to clergy. Find out the real issues surrounding the sale.
  • Cut thought the “fluff”.  18 years in the Industry, both buying and selling, allows me to understand the methods, used by agents to drive the price up.
  • Make cost effective offers and alternatives to increasing the price.
  • Have everything in order, ready to make an offer.
  • Real Estate Agents find it easier dealing with BA’s
  • I know how to get an offer accepted.
  • I can work quickly if there is competition.

Do it all yourself

Time

  • Look through realestate.com.au and Domain.com.au
  • Look through local papers.
  • Plan Saturday and possible Sunday “Open for Inspections” times.
  • (Inconvenient to do midweek inspections)
  • Up early on a Saturday (most of properties are open at 11 o’clock.) All day gone.
  • Race around to open inspections.
  • Find parking.
  • Stand in line to register at front door.
  • Inspect property with 10 or more other people.
  • Wait in line to speak to agents, along with other potential purchasers.
  • Keep track of potential properties.
  • Race off to next open.
  • Collapse into an armchair after returning home and prepare yourself, to do it all again next week.
  • Field at least 10 real estate agents phone calls during the week, all of which want to know your feedback on the properties you’ve inspected.

Research

  • Research on Realestate.com.au
  • Research on Domain.com.au

Negotiation

  • Ask the Agent what they think. (Remember, they are working for the seller, not you, to obtain the highest possible price)
  • Make an offer.
  • Increase the offer.
  • Possibility of losing the property to a “faster” buyer, at a price you were willing to pay.