What a Buyer’s Advocate will do to help you secure the right property depends on your brief and individual requirements including your short and long term goals.
A Buyer’s Advocate is a property professional who specialises in looking after the buyer in a property transaction. Our role is to help you as a buyer to secure the right property which will enable you to achieve your goal(s). We are an advocate for you and can assist with:
- Formulating the right strategy for purchasing your next property. We consider what sort of property you are looking for, where is the most suitable location, when is the best time to purchase and how this will be done.
- Searching for the right property and showing you the most suitable properties which meet your requirements
- Evaluating the best move
- Acting on your behalf to secure the property which typically involves negotiation or if you purchase through auction we can attend the auction and bid on your behalf.
Our primary focus when acting as your buyer’s agent is to provide sound advice, make sure you are informed at all stages throughout the journey and prevent you from making the wrong move.
In Victoria, in order to operate within the industry, a Buyer’s Advocate must be a licensed real estate or agent’s representative as authorised by the Business Licensing Authority (BLA). Ideally, a Buyer’s Advocate should be experienced so that they can provide you with sound advice.
Do you need a Buyer’s Advocate when buying a property? It is a personal choice whether you utilise the expertise of a Buyers Advocate when you buy property. The advantage of using an experienced Buyer’s Advocate to secure a property is that they understand how to do in-depth due diligence and act as your advocate – ensuring you do not overpay due to being emotional or not conducting appropriate due diligence.
For private sale where negotiation occurs, it is very valuable to have an experienced Buyer’s Advocate acting as your advocate and negotiating with the real estate agent because they are likely to ask appropriate questions and combined with their knowledge of the true market value of the property and negotiation skills they are likely to be able to secure the best deal for you.
Furthermore, at auction, it is beneficial to have a Buyer’s Advocate bidding on your behalf because they can ensure that the right strategy is deployed and are not as emotional as you about the purchase so, therefore, are more likely to stick to the maximum price you should pay for the property and not let you overpay due to heightened emotion. *statistic we can enter here about how many people overpay due to being emotion at auction or a story?