Should you engage a buyer’s advocate?

How to navigate your way through conflicting advice to achieve streamlined property results

Here at The Property Mentors, because it's our job to help Australians build long term wealth through residential property, we’re always hearing from investors who are searching for a very specific type of property in a very specific region!

This can be for any number of reasons, but it’s usually because – while the buyer would like to use the property as an investment in the first instance – they’d also like to live there at some point in the future.

Perhaps they’re nearing retirement and planning to downsize in the next couple of years, or maybe it’s the opposite and they’re hoping to grow their family, or they might be aiming to move to another location for work (or play) at some stage in their future!

This type of very specific service is outside the scope of sourcing an investment property alone – the considerations aren’t “just” logical and investment focused, there is an emotional buying element that needs to take equal priority. This is a completely different purchasing scenario, and can be significantly more labour intensive for a buyer because their considerations have literally doubled...and more! The bottom line is that the best investment for your portfolio may not be a property you want to live in, and vice versa.

That’s why here at The Property Mentors we’ve expanded our mentoring service to include a highly targeted buyers advocacy service.

WHAT’S THE DIFFERENCE BETWEEN A PROPERTY MENTOR AND A BUYER’S ADVOCATE?

MENTORING

Our property mentoring service focuses extensively on ensuring an investor's long term financial success by making sure they’re emotionally, financially and educationally ready to establish or grow their own profitable investment property portfolio. It’s a long term service that needs to change and grow with the property market and the investor’s individual circumstances and goals.

So part of our job is to actively seek out properties capable of generating long term wealth, and we spend our time searching for the very best investment opportunities for our members. Along the way, we’ve built a substantial network of industry professionals, which means that we always have access to profitable properties. Which brings us to advocacy!

ADVOCACY

On the other hand, a buyer’s advocacy service (also known as a buyer’s agent service) is designed to help all property buyers – whether they are looking for a particular type of investment property or a future home – make quick, educated and targeted decisions, saving them time and money. Ultimately, it’s our job to take the confusion out of the entire process. And our significant industry experience with mentoring investors means we’re more than equipped to seek out amazing properties for everyone!

WHY USE A BUYER’S ADVOCATE?

Having an experienced property advocate by your side means exactly that – they are on your side, not that of the seller!

If you’re selling a property, the process is relatively simple. Find an agent, list your property and sell to the highest bidder. You can instantly find hundreds of agents who will happily compete for the right to sell your property.

So, just as sellers can opt to engage a professional real estate agent to sell their property and negotiate the highest possible price, we believe it’s equally useful to engage a professional real estate agent to help you buy a property.

A buyer’s advocate’s job is to work exclusively for you, the purchaser! Makes perfect sense when you think about it!

WHO CAN BENEFIT FROM A BUYER’S ADVOCACY SERVICE?

  • Property investors who want to purchase the very best asset to achieve strong rental returns and capital growth, and get into the property market sooner rather than later!
  • Busy professionals (or busy anyone!) who don’t want to waste months and months trying to find the right property
  • Owner occupiers who are searching for just the right house or apartment to live in, for just the right price
  • Downsizers or those new to the market who may not have purchased a property for many years (or at all) and so lack experience when it comes to negotiating with sellers and their agents
  • Interstate buyers who are looking for property in an area they are unfamiliar with (for example, Melbournians making their escape to warmer weather!)

A buyers advocate can help all of these groups to obtain the best terms (not just the best price) by framing their offer to sellers in the most appropriate way. This is an art in itself, because...

...purchasing the right property, for the right price, in the right timeframe can literally save you tons of time and tens of thousands of dollars right now…and potentially go on to make you hundreds of thousands of dollars into the future!

TOP THREE REASONS EVERYONE CAN BENEFIT BY ENGAGING A BUYER’S ADVOCATE!

  1. Find the right property
  2. For the right price
  3. According to your timeframe

TOP THREE REASONS YOU SHOULD ENGAGE A BUYER’S ADVOCATE

The three primary reasons people ultimately decide to engage a buyer’s advocate are:

  1. Lack of knowledge Confusion about the property market in general, and what makes one property better than another and one area better than another
  2. Lack of time Making the decision making process more stressful than it needs to be, and leading to big decisions driven by emotion rather than logic
  3. Lack of negotiation skills Likely due to a lack of experience and not having the right advisors around to help you avoid making costly mistakes

And all of these issues are exacerbated by receiving conflicting advice, from multiple sources, that may not be tailored to your individual goals. Seeking out professional advice from a buyer’s advocate can help you cut out the noise generated by selling agents, developers and everyone else who has a vested interest in selling you a particular property…for the highest possible price!

CONFLICTING ADVICE

EVEN MORE REASONS TO ENGAGE A BUYER’S ADVOCATE!

  1. Avoid costly mistakes
  2. Avoid bad decisions
  3. Remove emotion from the process
  4. Receive independent and unbiased advice

If you think you could benefit from using a buyer’s advocate, check out more details on our website, or contact us to learn exactly how we personally work with you to make sure you get the desired outcome on the property you’re searching for!

ADDITIONAL SERVICES

Not only can we provide you with the independent advice you need to buy the right property right now, we can help grow your property portfolio even further with our ongoing mentoring service.

You will have easy, ongoing access to independent accountants, mortgage brokers, financial planners, solicitors, financial advisors, and more. They work with you to obtain a clear understanding of where you are now and your ideal position, then help you plan how to get there.

In addition, as active property investors ourselves, we understand first-hand the difference between a good and a bad property manager can also mean the difference between an assured, hassle-free and easy to achieve income stream versus poor service, the wrong tenants, maintenance problems and unforeseen issues. And that’s why we also offer a boutique property management service, focused on managing residential properties in the Melbourne area.

We can manage your goals, your property portfolio and your properties…or we can help you find and purchase your ideal property, starting now.

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