Posted on: 1 May 2015
If you are interested in buying commercial or residential property, you may want to consider hiring a buyers advocate to help you achieve that goal. Buyers advocates are specifically focused on the buyers side of things, meaning that they are interested in understanding every aspect of what drives your desire to buy in order to help you winnow down available properties to find the exact match for your needs. Here's what you get when you hire one of these professionals.
One of the most important aspects of buying a property is knowing where to look. Buyers advocates will gather all the pertinent information related to the type of property you wish to buy, and then will undertake a thorough analysis of neighborhoods and suburbs that match your criteria.
They will obtain all the current listings of suitable properties, and often have access to what is known as 'silent' listings, which are private listings with limited access by the rank and file. The property search service will also include market research to provide you with information about different markets, their demographics, income level and safety, as well as the prices of homes sold within a designated area.
Keep in mind that when you've located a property that you like, the real estate agent working on the seller's behalf has no interest in making things easy for you when it comes to a sales price. That's why a buyers advocate is so important in the process of appraising and evaluating a property that you are interested in purchasing.
Your buyers advocate will obtain a proper valuation for the property by analysing sales data for the area, as well as projecting the increase in value of the property, or a decrease in value based on a select group of factors such as income trajectories and an analysis of ten-year trends in the area.
Buyers advocates can also offer you auction services, which allow you to learn about properties that match your needs that are being placed on auction. The advantage of buying a property on auction is that in many cases, the property was sold under distress, known as a short sale, or foreclosed.
These properties tend to be sold for a lower price than private sales, so obtaining auction information can save you thousands of dollars. Buyers advocates like WBP Property Group can provide you with auction sales, and also help you formulate your bidding strategy to maximise your chances at landing the property.Share