Buyer's Advocacy
Making the decision to buy property, whether to live in as your primary residence or for an investment is a major life decision. Often this milestone is full of excitement and anticipation, but often, without the right assistance the process can quickly become overwhelming and daunting. Hours upon hours of your precious time is pent scrolling through seemingly endless real estate listings, which all end up blending into one another and tainting the purchasing process with anxiety and stress.
Don't let the experience of purchasing property leave a sour taste in your mouth; instead, why not rely on the skills of an expert who has your best interest at the core of their daily business? Enter a buyer's advocate.
What is a buyer's advocate?
Buyer's advocates are your secret weapon for homebuyers and investment purchasers.
Simply put, a buyer's advocate or agent is a real estate agent who is hired to research, evaluate and negotiate the purchase of a property. Unlike real estate agents who sell properties who are beholden to the seller and their allegiance lies with them, buyer's advocates work for the purchaser. In an industry where real estate agents always have the interests of the seller at the forefront of their interactions, having a buyer's agent give you the piece of mind, knowing that someone is in your corner.
What does a buyer's advocate do?
We assist those looking to buy their next property through our buyers advocacy services where we provide:
- Access to off-market and pre-market properties for sale.
- Local market knowledge and insight.
- Skill and expertise in dealing with selling agents.
Buyer's advocates research properties that meet your criteria, negotiate the purchase of the chosen property via private treaty of they can bid on your behalf at auction.
In addition at MPPG, if you are investing in property to expand your real estate portfolio, we can provide a comprehensive property management service where:
- We guarantee the payment of the market rent, even if vacant.
- Protect your property from bad tenants.
- Provide strategies to maximise and retain cashflow.
Do I need a buyer's advocate to purchase real estate?
Whilst it is not essential to have a buyer's advocate to purchase real estate in Victoria, it is a very advantageous position to be in.
Here are five reasons to engage a buyer's advocate for your next property purchase:
- You get your time back: Searching for the perfect house can take up a lot of your time. In addition to browsing listings, you’ll also need to dedicate a part of your weekend to viewing the houses in person. When multiple listings show an open house inspection on the same date and time, it can be exhausting driving from one location to the other. A buyer’s advocate can save time by house-hunting for you, based on your requirements.
- Bidding at auctions: Those high-energy auctions can be intimidating for someone who’s never participated in them before. A buyer’s advocate can make you feel at ease and prevent overbidding, as well as employ some strategies to help scare away the competition and potentially get a better price for you at auction.
- You can potentially save money: A buyer’s advocate has likely years of experience in negotiating a better deal on the purchase price. Additionally, they can help you understand how much a property is worth. That said, the flexibility of the price does depend on the vendor’s situation.
- Better access to off-market properties: It’s a fact that some properties just aren’t advertised online, in particular those asking for a higher price or in no need to rush a sale. A buyer’s advocate has access to these off-market properties and can provide you with an opportunity that you wouldn’t have been able to discover by yourself.
- Emotional detachment: A buyer’s advocate has no emotional interest in the property you’ve selected, which means they can objectively view the home and see it for what it is. As a buyer, you may be more likely to pay over market price for something you’ve set your heart on. A buyer’s advocate can help you look at the situation more realistically.