Buying a residential property can be a real challenge. There are many factors to consider and proper research is a must. But if you have a buyers advocate to assist you, you can be sure to get the right information, find and purchase the right home at the right price.
Buyers advocates are also known as buyers agents. They are licensed professionals who help home buyers search, evaluate and negotiate the purchase of a property. They are only focused on buying properties on behalf of homeowners and investors.
What Does A Buyers Advocate / Buyers Agent Do
As a representative of a home buyer, a buyers advocate does the leg work. He or she searches properties according to what their clients want and negotiate the purchase of a chosen property either through private sale or public auction. When searching, a buyers agent may look through a whole portfolio or look for one specific property that meets the client’s requirements.
A buyers advocate may also be asked to bid at an auction on behalf of the buyer or investor.
How Much Is A Buyers Advocate’s Fee?
Depending on the services you need, buyers advocates charge different fees. Some may initially charge a so-called engagement fee before they start working for you and search for your desired property.
Home buyers or investors who use the full service buyers agents have two options. They can pay a flat fee or a percentage of the property purchase price. My recommendation is to work with a buyers agent that charges you a flat fee to secure your new home or investment property.
If you want your buyers agent to bid for you at auction, this may also require you to pay a fee.
If you have already found a property and wish a buyers advocate to just negotiate for you or bid for you at auction, this is also a service that an advocate will offer you. If you engage me, we charge you a flat fee of $1,000 + GST.
Normally, the greater the time an agent spends working for you, the higher the fee you’re going to pay. I work with my buyers on a flat fee basis, therefore you know up front how much you need to invest in working with me to help you purchase a property.
It should also be noted that using a buyers advocate may be tax deductible especially when one is buying an investment property. Please check with your financial advisor or accountant to confirm whether this applies to you.
If you’re looking to purchase a home to live in or looking for an investment property, feel free to get in touch on 03 9686 2288 so that we can have a no obligation chat about how I may be able to help.
By Wendy Chamberlain
Copyright 2015 | All Rights Reserved
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With a passion for all things real estate spanning 18 years, Wendy loves that her role as a Buyers Advocate gives her buyers an experienced voice they can trust when it comes to negotiating to purchase something as important as their new home or investment. Wendy considers it a privilege to be asked to help others realise such an important goal as home ownership and to be trusted with that honour. Get in touch today via www.FollowWendy.com for a no obligation chat about how Wendy can work with you and help you save time and money to secure your new home sooner.
