Professional Buyers Advocacy Services is all about knowledge, experience and planning. With over 25 years in the Real Estate and Construction industry, and having been involved in the transaction of hundreds of properties, we have this knowledge & experience.
When purchasing, buyers must first understand the Real Estate Agent’s role. Their job is to achieve the highest possible price for the property they are selling, and they are rewarded well for this – usually between 2 – 3 % of the sale price.
A professional Real Estate Agent will smile at you, they will take down your details, they will ask you questions to establish your interest and capacity to buy, they will listen to what you have to say, and they will remember this. They will take note of how long and at which properties they have seen you.
With such interest in you, you may feel the Estate Agent is genuinely trying to help you – the buyer, to find a property. They are not trying to find you a property, they are trying to sell you a property, and for the highest price possible. That is a Real Estate Agents job, and a buyer should never lose sight of this. It’s not personal, it’s their job, and if you were paying them 2 – 3% of the sale price, you would expect them to do their job well.
And some Real Estate Agents are extremely good at their job. Many Real Estate Agents do this 7 days a week. They may easily meet 50 people in a week at Open for inspections. They may receive 50 phone calls a day from potential buyers. They probably sell 50 properties a year.
And all you want is to buy just one…..
Be honest. You’ve experienced the professional photography, the professionally furnished, and the professionally marketed properties. You’ve been to the inspections, you’ve been to the Auctions. When was the last time it looked like the buyer was in control?
That’s why more and more buyers are engaging professional Buyers Advocates to negotiate with professional Real Estate Agents and better their chances to not only find a property, but to secure a property.
If you are not confident in any of the items listed below, then there is value in you engaging a professional Buyers Advocate.
1. Sale Price expectations
a. What is the expected sale price quoted?
b. On what basis?
c. What other similar properties have recently sold?
2. Vendor motivation
a. Up / down sizing?
e. Employment changes?
Whilst not always openly disclosed, an astute buyer can enquire and observe to determine the motivation behind the sale of the property. With this knowledge, a purchaser can then tailor their offer to best entice the Vendor to accept their price.
3. Competing Interest in the property
a. How many people are at the Open for Inspections?
b. How persistent is the Agent in following you up following you inspection?
c. Would a Vendor consider an offer before Auction?
4. Section 32 information
a. Is there a registered mortgage on the property?
b. Are the rates & charges paid up to date?
c. What is the Council Rates Valuation?
d. Is there a lease in place, and under what terms?
e. Are there any notices (i.e. Development approval on adjoining lots) ?
f. Does the property inspected reflect the title details shown?
g. What are the Outgoings?
5. Contract terms
a. Auction or Private Sale – Do you understand the contractual differences?
b. Subject to finance?
c. Deposit amount and payment date?
d. Settlement date?
e. Vacant possession or under lease?
These points are a fraction of the items a buyer needs to be aware of before considering to make an offer on a property. If a buyer does not understand these, they should not make an offer. A professional Buyers Advocate will immediately interpret these items (and more), and set about using this information to secure the property for their buyer, and for the lowest price possible.
Contact us to discuss if a Buyers Advocate could assist you.