What is a buyers’ agent or buyers' advocate?

June 29, 2017
Annette Kennedy

When you were young and looking for your first job, how many of you thought I want to be a property buyers' agent? 

Not many I imagine!  Not even sure they were around when I was young.

There are so many specialists out there now involved in the world of finance and property it is sometimes puzzling as to how generations before us ever survived.

A buyers’ agent is one such occupation that has evolved over the years to assist first home buyers and investors alike to purchase property with a bit more knowledge than before.

The main skill set a buyers’ agent brings is a knowledge of the property market, research and understanding of the statistics around suburb growth and assisting you at auctions and in negotiations prior to purchase, if needed.

 They do not sell property but rather work with the purchaser to find a great deal.

A buyers’ agent can be considered similar to a financial adviser.  If you were to buy shares you may choose to employ a financial adviser who would research shares that meet your criteria and would provide you with educated advice on the companies and prediction on growth for your consideration.

A property buyers’ agent’s role is similar.  They are professionals who research the market, and analyse local council plans for schools, transport and major commercial ventures in the areas, as well as history of sales – so as to provide you with advice about your potential purchase and educated guides as to what may happen to property prices in the long term.

There are approximately 93 suburbs on the Gold Coast.  This is a lot of ground to cover on your own, to work out the best location to invest in. Purchasing some local professional knowledge does come with some merit.

 

Finding the best buyers’ agent is where your research is needed.

Some good questions to ask of your potential agent are

  • How many years of experience do they have?
  • What areas of the Gold Coast have they covered? And where else do you service?
  • Who are their contacts?
  • Where are they getting their information from?

Read reviews and ask friends and family for recommendations. 

Having an agent with over 7 years of independent experience (where they are not selling property), who has seen a whole property cycle and could advise on the ups and downs of your local area, would be a great starting point.

Best of luck with purchasing your investment.

 

 

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