Purchasing property: Four benefits I gained from using a buyer’s advocate

Property investing - buyers advocate

 

Buyer’s advocates exist to help people find the property of their dreams, without over-paying for it.

They can help take the guesswork, and all the other work, out of buying property.

I love looking for property.  I can spend hours and hours researching areas, suburbs and houses online and the time just races by.  It’s a hobby; it’s a passion.  In doing so, I found the home of my dreams.

So why would I choose to hire a buyer’s advocate?

1. My buyer’s advocate is an experienced real estate agent.

I took my buyer’s advocate, Sam, to look at my new home. He was able to give me a very clear indication of what it was worth (his figure was identical to the sworn valuation I received).  He also spoke to the agent and found out about the vendor; who was selling, why they were selling, and what they really wanted. He even pointed out some important issues and features that I hadn’t noticed.

Basically, Sam knew where to look, he knew what to say and he knew what it was worth.

2. My buyer’s advocate understands what I’m looking for in the sale of my old home.

Sam agreed to be present at the interviewing of my selling agent. Knowing me personally, and knowing the industry, Sam was able to ask the right questions to ensure the agent selling my home was the best I could find, and that I wasn’t going to pay an unreasonable amount for it!

3. My buyer’s advocate is a professional negotiator who can get my new home at the best possible price.

This is where Sam really provided value for money!  Purchasing a home, especially the home of your dreams, can be an emotional experience.  Sam did all the negotiating for me and secured my new home far cheaper than I would have done. He knew when to stall, when to push and when to feign disinterest. The amount of money I saved was well in excess of his fee.

4. My buyer’s advocate put an expert in my corner.

Most people buying property rely on an expert to help them yet they are generally unwilling to pay for one.  In starting out, when Kaz bought her first home, she asked the real estate agent for help.  When I bought my first place I thought you had to pay the ticket price!  Hiring Sam put a bona-fide expert in my corner. I could ask him the “stupid” questions. Listening to Sam taught me a lot.

I am aware that I have more knowledge about property investing than the average Joe. Nevertheless, there are so many things I don’t know and hiring Sam gave me a sense of security and a great opportunity to learn!

And we can never stop learning.

Comments

  1. I am a buyer’s advocate and have recently started up my own property consultancy called Zen Property Consulting. I certainly agree with Den’s comments as I deal with many client’s like Den who are certainly savvy enough to be able to negotiate and pick certain things up but simply don’t have the spare time available to research, etc.

    At Zen Property Consulting we have a proven & tested property rating system that provides an end score which enables our client’s to be able to make an informed purchasing decision which is fundamental to our philosophy. We also look at a property’s sales history which provides a good indication to the property’s likely future capital growth potential.

    Anyone out there looking to purchase you can visit us on http://www.zenpropertyconsulting.com.au and we cover all parts of Melbourne and I am sure that you would find our services extremely helpful.

    • Hi Zac,
      Thanks for your comments. Perhaps we should have a chat – I know our listeners would be interested to hear more about how a buyer’s advocate service works, so maybe you’d like to come on our podcast? Kaz

  2. Just following up since August 2011 when I made my last comments about the market. Since August 2011 there has been 2 interest rate cuts this should hopefully have a positive impact with price growth come 2012. Current prices are in most cases at the same point as they were 2 years ago just before the federal government introduced the second financial stimulus (2009). Unfortunately those people who purchased in 2009 will need to wait a few years before they start realising equity from their homes or investments. For investors and home buyers wishing to buy now brings many opportunities as we are now in the first stage of the next boom cycle. However, buying the right property in the right neighborhood has never so important. Our prediction is that prices will begin to move upwards sometime in 2012 and certainly beyond as history has shown that when prices do drop that don’t stay low for long. Therefore, timing (somewhat understated undervalued) is crucial in ensuring success. At Zen Property, we measure the subject property’s previous sales history as well as evaluating its external and internal features through our property rating system. By doing this, we are certainly minimising the client risk but also maximising the property’s potential in terms of outperforming the rest of the marketplace.

Speak Your Mind

*