What’s the difference between a Buyers Advocate and a Real Estate Agent?
4 min read
Using a Buyers Advocate means you have a property expert working for you and only you. A Real Estate Agent may be able to assist you by presenting different properties they have for sale, but at the end of the day they work for the vendor, not the buyer.
What does a Buyers Advocate do?
A Buyers Advocate is a licensed real estate professional who acts for the buyer only. Services can include:
- Bidding at auction
- Searching for properties (both listed and off-market) for you to review
- Conducting inspections on your behalf prior to recommending an inspection
- Reviewing properties you have found for purchase
- Negotiating with the vendor’s agent
How is this different to a Real Estate Agent?
A Real Estate Agent works for and is paid by the vendor. This means in any transaction the Agent is solely working for the vendor and conducting negotiation on their behalf with the aim of selling the property for the highest price possible. A Buyers Advocate however works for you, the buyer, with the aim of purchasing a great property at a great price that is going to have long term benefit to you.
A Real Estate Agent may have a range of properties available for you to inspect in a given area, but it’s not their job to asses the property for suitability and long term performance.
Why would I use a Buyers Advocacy service?
When it comes to buying property, we’ve all heard horror stories about people losing money when it comes time to sell their home. Or being caught out with expensive repairs and maintenance because they didn’t realise what they were buying. It pays to invest in professional advice to ensure what you are buying is a good investment. Over a number of years you want the property to increase in value, helping you take your next step. A Buyers Advocate should:
- Assist you in reviewing the areas you wish to purchase in
- Make sure there are no big developments or changes that will impact you
- Help you select a great asset (whether to live in or as an investment)
- Ensure all building and pest inspections are completed
- Negotiate with the vendor (for private negotiation sales)
- Bid at auction within your budget (for auction sales)
When it comes down to it, a Buyers Advocate is a financial investment many people simply can’t do without. If you don’t buy property very often, you may be surprised at how quickly the market shifts. A Buyers Advocate stays on top of change and helps you invest in property wisely.