Why Use A Buyer’s Advocate?
House-hunting can be as stressful as it is exciting. You’re looking for the perfect spot to call home, but finding that perfect spot can take more time and effort than you’ve anticipated. It can also be very stressful and overwhelming.
Wading through mounds of properties online or in the newspapers. Having to go and see the properties. And, at the end of it, you just can’t find the one that ticks all the boxes.
Fortunately, there’s a way to streamline the process and take the stress out of it! Introducing your house-hunting secret weapon: the buyer’s advocate.
So, what is a buyer’s advocate and why should getting one on board be the first thing you do?
What Is A Buyer's Advocate?
A buyer’s advocate is what the name suggests: Someone who promotes the buyer’s best interests. They support the “cause” of the buyer (this being finding the ideal home) and “stands in” for the buyer as, in essence, their trusted proxy.
A buyer’s advocate is a real estate professional who takes the time to get to know you. The goal is to understand your likes and dislikes in a property. What features are important to you and your family? And what amenities and functions are important in a space that you call home? Then they go out and find it for you.
Also known as a buyer’s agent, a buyer’s advocate looks at the holistic picture of what you need and want in your “home base”. They take all your preferences and requirements into account when researching, investigating, inspecting, and evaluating properties that could become your next home.
What Does A Buyer's Advocate Do?
Buyers’ advocates offer a range of services depending on what the buyer’s needs are.
Finding Your Ideal Home
A buyer’s advocate has extensive networks as well as access to off-market property listings that can accelerate the process of finding your dream home at a price that is comfortable for your budget.
Appraisals And Valuations
A buyer’s advocate is very informed on market values, so if you’re considering putting in an offer for a property, be it for a home or a commercial property, the buyer’s advocate can ensure that the right deal is negotiated for fair and market-related pricing.
Negotiations And Contracts
Buyer’s agents help you through the entire process of buying a property including negotiating the price and preparing and reviewing all the documents before you sign on the dotted line.
Bidding At An Auction
Auctions can be quite daunting and even overwhelming, especially for unseasoned bidders. An inexperienced person could end up paying thousands of dollars more than the property is worth.
A buyers’ advocate can bid at auctions for you. This means you can rest assured knowing you are getting a fair deal.
Australia’s Gold Coast is an exquisite, highly sought-after beach strip on the sunny east coast of the country.
Known for its golden beaches, welcoming neighbourhoods, addictive culinary scene, and winding rainforest walks and hikes, this is one of the most idealistic locations in the world. And you’ve decided you want to live there…
Now imagine the weeks of research, outreaches to estate agents, property viewings, and then rebooting the process when you don’t find something that fits your needs and budget. And consider all of this on top of having a job or navigating your relocation to the Gold Coast! It leaves little time to spend on exploring properties and whittling down the options for your ideal potential home.
That’s where a buyer’s advocate on the Gold Coast comes in. Here are some reasons why you should hire one:
Claim Back Your Time
The first reason for hiring a buyer’s advocate on the Gold Coast is that it saves you time. A buyer’s advocate takes charge of all the research. They present you with options that perfectly suit your criteria so that you don’t have to spend your free time endlessly sifting through listings.
Save Money
With the cost of living constantly on the rise, saving money becomes a prime factor in the process of finding a new home. Buyer’s advocates focus on researching and finding potential property matches within your budget. They will ensure you aren’t getting taken advantage of by overpaying what a property is worth.
Remember, the buyer’s advocate is in your corner, as opposed to the seller’s agent who is trying to get the highest price for the seller of their property.
Leave Emotion Out Of It
When you’re researching and viewing properties, you can develop an “emotional attachment” to certain features of any given property that hit one or more of your desires on the mark.
You can also be drawn into the “marketing magic” of an estate agent, who shares manicured images of the different spaces of a property or who writes poetic descriptions that you can relate to.
A buyer’s advocate won’t fall for these “emotional magnets”. They will look purely at the facts of what you want and evaluate what the property offers to meet those wants and needs.
What Does A Buyer's Advocate Charge?
This is dependent on how much of the buying process you want your buyer’s advocate to manage. If it’s attending a property auction and bidding on your behalf according to your buyer’s brief, you could expect to pay as little as $1,500-$2,000 for the agent to attend an auction for you.
If you’re looking for a full-service package, including property search and price negotiation, you could be looking at a percentage of the property’s sale value (approx. 1-2%) plus goods and services tax (GST).
Here is a detailed breakdown of our Gold Coast buyers advocate fee’s
Conclusion
The process of searching for a new home can be very exciting and lots of fun. But, as a busy individual, possibly with a demanding job or kids to cart around and your own activities to attend to, there is often very limited time to put in the hours needed to find the ideal home for you.
A buyer’s advocate is 100% dedicated to doing everything needed, spending as much time and effort as needed, to find that perfect home for you.
