Buyer's Advocates

For most people, buying an investment property is the largest investment they will ever make. It is important for prospective investors to either:

  1. Spend a lot of time and travel researching a purchase, or
  2. utilize the services of a Licensed Buyer's Advocate (or Buyer's Agent) to find the very best Investment on the market that meets the buyers individual wants needs and budget.

Why use a buyer's advocate?

Wise investors welcome the opportunity to employ professional help in finding the ideal property at a fair and reasonable market price. Many buyer's advocate companies have staff employed full time researching the available properties in the best areas for investment and refer these properties to their clients for consideration.

It must be remembered that different investors require different types of properties as their position will be unique. A good buyer's advocate will source and secure the ideal property for the lowest possible price, in the least amount of time and with the most favourable terms.

The main services provided by a Buyer's Advocate are:

  1. Property Search
  2. Auction bidding and Private Sale Negotiation

Benefits of using a Buyer's Advocate include:

  1. Utilising their knowledge of the local real estate market.
  2. Their ability to find a suitable match between the buyer and property.
  3. A good advocate will dispassionately negotiate the purchase of the property for you.

Questions to ask a potential agent:

  1. Are they a fully licensed real estate agent? Licensed real estate agents know the intricacies of the industry that outsiders might miss. They also know common tricks employed by sellers that are used to inflate the sale price of properties.
  2. What is their Industry knowledge and experience? Make sure your agent has acted as a buyer's advocate for the purchase of a number of properties.
  3. Are they a member of the relevant Real Estate Institute? Each state has its own Real Estate Institute and membership ensures they uphold certain standards and requirements.
  4. Are they a dedicated buyer's advocate? Agents that are also involved in selling properties are less likely to be fully focussed in getting the best deal for the buyer. An independent service protects the buyer.
  5. Are they investment property specialists? A buyer's agent can save you money with emotionless negotiating skills, but most importantly to locate the best possible properties for your consideration, often these will be "off the plan" investments and developments that have not even hit the market yet.

You can find a fully qualified buyer's advocate Australia-wide with Rate Detective's database of agents. Enter your contact details in our enquiry form and we'll get back to you within one business day with the details of the buyer's agents in your area.

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Published on March 3-th, 2008 in Home Loans
Damon Rasheed is the CEO of Rate Detective, an Australian financial service comparison sites specialising in Life Insurance, Income Protection Insurance and home loans. Damon holds a Master's Degree in Economics from the University of Melbourne and has been involved in many start-up internet businesses.
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Important Information

Not all providers in the market are included in the comparison.

Any information or advice contained on this website is general in nature and has been prepared without taking into account your objectives, financial situation or needs.

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