Buying a home is one of the biggest, most complex financial decisions you’ll ever make. That’s where a buyer’s advocate (also known as a buyer’s agent) comes in. A buyer’s advocate works exclusively for you, the buyer, to ensure your best interests are protected throughout the entire purchasing process, as well as taking the stress out of searching for and purchasing a home for time-poor, busy people.
What is a Buyer’s Advocate?
A buyer’s advocate, also known as a buyer’s agent, is a licensed real estate professional who represents the interests of the property buyers. Their primary focus is to help home buyers find the right property. They do this by researching and evaluating available properties on behalf of the buyer, presenting the most suitable options, and assisting in negotiating the best possible price
Common Pain Points When Buying Property
Many home buyers, especially those purchasing their first home, may not know where to find suitable properties and can feel overwhelmed by the available options. If the real estate market is experiencing a shortage of homes, buyers may have limited choices, making it difficult to know how to proceed.
When you work with a buyer’s advocate, you gain a professional who can research and create a shortlist of properties for you. They can also identify off-market opportunities that aren’t yet available to the public, assess the market value of potential homes, bid at auctions on your behalf, and negotiate in private sales for you.
By taking on the responsibilities of bidding, price negotiation, and communicating with real estate agents, buyer’s agents help alleviate the stress for their clients. Another huge benefit of using a buyer’s agent is having someone on your team to interpret contracts of sale and other legal documents related to the sale of a property.
How a Buyer’s Advocate Can Help
A buyer’s advocate will guide you through the entire process of searching for and securing a new home. From open for inspections to price negotiation and settlement, they’re with you every step of the way, offering expert advice and providing tips on a strategic approach to securing a home that suits your needs and your budget. Buyer’s agents understand market trends and property values thanks to their extensive real estate experience, and can offer clients who are time-poor a streamlined approach to looking for a new home or investment property. The ability of buyer’s advocates to access exclusive off-market opportunities means you also have the potential for a better purchase price before the home hits the market.
Long-Term Benefits of Using a Buyer’s Advocate
Buying a home is such a high-stakes decision, and buyer’s agents save you time and reduce stress, while protecting your investment by ensuring your property is going to be an ideal long-term asset. Using a buyer’s agent to secure a home at a better price also means you’ll reap the benefits for years to come – borrowing less leads to lower repayments, saving you money over the lifetime of your mortgage. You’ll have peace of mind that a professional is managing the process for you, so there’s no risk of costly mistakes being made during the purchasing process when you’re trying to navigate the real estate world on your own.
A Real World Example: Val and Nick, First Home Buyers
Val and Nick were first-time home buyers looking to purchase a home in and around Hampton. Despite looking for over two months, they missed out on a range of properties. They also found the homes they looked at were either not what they wanted or sold for well over what they could afford. They engaged Bayside Real Estate Advocates services and we were able to contact our expansive network of agents to source off-market properties, as well as perform an in-depth search to see what was available. Over 145 agents from the area were emailed and called directly, and we were able to have the right conversations that allowed us to narrow down the search. The end result was sourcing an off-market property they could walk through straight away. With no competition from other buyers, our expert buyer’s agent negotiation skills ensured they purchased the property for the least amount of money, as well as saving them time and stress. They were able to secure their first home in the area they wanted in a streamlined, efficient way.
Final Thoughts
From finding off-market properties to negotiating the best price and navigating contracts, a buyer’s advocate brings expert knowledge, industry connections, and sharp negotiation skills to the table. They take the stress out of buying, help you avoid costly mistakes, and ultimately save you time and money when you’re looking for the perfect property purchase. Whether you’re a first home buyer or ready to upsize or downsize from your current home, using a buyer’s advocate is a strategic choice that enables you to navigate one of the biggest financial decisions of your life with guidance and support from the time you’re ready to start looking through to settlement on your purchase. Speak to the expert buyer’s advocate team at Bayside Real Estate Advocates today to explore your options for finding property to purchase in the Bayside suburbs today.
