8 reasons to use a buyerâ€™s advocate
BUY SELL MANAGE
A Synergy buyer’s advocate helps you take a strategic approach to your property purchase – providing you with objective advice, industry knowledge, due diligence and negotiation strategies – before and during an auction – to help you buy the property you want for the best possible price. 1. Get independent, professional advice to ensure you buy the right property at the right price Most people will only buy three or four properties in a lifetime which makes it very difficult to stay abreast of changing market conditions. Unless you have the time and energy to bury yourself in research and attend open for inspections for months, it can be time consuming and incredibly stressful trying to familiarise yourself with the market in order to understand what constitutes value. A good buyer’s advocate has extensive knowledge and experience that will help you buy the right property at the best possible price.
2. Save time and eliminate stress by having an expert do the hard work for you By identifying and targeting your precise needs, buyer’s advocates streamline the search process by short-listing the most suitable properties. You’ll no longer have to waste precious weekends being frustrated by misquoted prices or inspecting properties that are completely unsuited to your needs.
3. Gain access to off-market transactions Many of Melbourne’s best properties are sold before they’re advertised. A good buyer’s advocate will have strong relationships with a large network of real estate agents, meaning you’ll often have access to properties before they hit the market.
4. Feel confident with independent property appraisals and due diligence There is always doubt about advertised selling prices and without experience it’s very difficult to know if you’re paying too much for a property. A buyer’s advocate can independently appraise the property and assess its current market value using due diligence and appraisal tools which gives you a benchmark for what the property is really worth.
5. Level the playing field Buyer’s advocates sit between you and the real estate agent, asking questions and making sure you have everything you need to make the best purchase decision. A real estate agent’s job is to sell you a property for the highest possible price and their high pressure sales techniques can be overwhelming for many purchasers. A buyer’s advocate levels the playing field by negotiating on your behalf with transparency and independence. Just as you’d hire a lawyer to represent you in court, it makes sense to use an expert to reduce risk and achieve the best outcome when making a transaction that’s as significant as buying property.
6. Leverage auction and negotiation expertise Negotiating for your own property or bidding at auction can be a daunting task. Buyer’s advocates are specialised property negotiators who’ve participated in hundreds of auctions and private sale negotiations. They will bid or negotiate on your behalf with confidence and vast experience. They can also represent you and do your bidding if for whatever reason you can’t attend the auction.
7. Preserve your anonymity when buying a property Being anonymous when purchasing a property can often put you in a stronger negotiating position. Whether you are in the public eye, or simply want to buy the property next door, a buyer’s advocate can help you confidentially secure the property you’re after.
8. Choose the level of service that’s right for you A good buyer’s advocate can tailor their service to your individual needs. Different services and fee structures include: full buyer advocacy service, due diligence and negotiation/bid; auction bid only or a residential investment package – which includes buying and managing your investment property.
Read about some of our clients’ experiences: Finding an artistic home for Annie and Jon
Annie and Jon had been searching for the perfect house in Melbourne’s western and northern suburbs for a long time before they approached us for help. Part of the challenge in helping Annie and Jon with their search was not just finding a suitable home for their family but finding one with an artist’s studio. We placed an offer on a property that we missed out on to a developer, but just a week later we tracked down their dream home in Coburg. The house had been passed in at auction five weeks prior and was presented in unappealing condition, but being creative people Annie and Jon could see the potential in the property which even had its own studio for Jon to use. We managed to negotiate a terrific price which was well under the median for comparable homes in the street, and Annie and Jon now have a great property in a well presented street and location, and will be happy in their home for years to come.
Going the distance in Glen Iris We recently sought an investment property for clients who were expat-Australians based in the USA. Despite the challenge of different time zones and no face-toface meetings, we provided our client with weekly phone conferences and email updates and successfully identifi ed a suitable Glen Iris property valued over $1 million which we were able to view before it was released to the general market. The house was a single owner, 2 bedroom period home on a large north facing allotment that was advertised as an expression of interest campaign rather than an auction or private sale. Strong relationships with our client and the selling agent meant that we were able to respond quickly with an offer and secure the property at a great price. We’re now in the process of organising a mini refurbishment on behalf of our client with new carpets, painting and landscaping, and will manage the property after settlement.
Apartment block with great potential in Glen Iris We recently sought and purchased a terrific residential apartment block on behalf of a client. The building was a quality block of eight units, all with long-term tenants. Each unit had an ideal aspect and floor plan which is very rare in a block of flats and blocks like these don’t come onto the market very often, so we expected strong competition at auction. On auction day we were competing with several other buyer advocates who also recognised the value of the property, and pushed the price well above the reserve. After some highly competitive bidding, we secured the purchase within the price range that we’d advised our client the property was worth. Our client was thrilled with the outcome and has asked Synergy to take over the management of all the units at settlement.
If you or someone you know is looking to buy property, call us for advice: (03) 9827 3355
Suite 206, 9-11 Claremont Street, South Yarra Victoria 3141 P +61 3 9827 3355 F +61 3 9827 6155 firstname.lastname@example.org synergybsm.com.au
BUY SELL MANAGE