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FAQ - Buyers Agents Services

Here is why Property Buyers should use Buyers Advocates if you can afford it.

Who are Buyer Agents (or Buyers Advocates)?

In Melbourne, Buyer's agents (or buyer's advocates) are engaged by property buyers, paid by property buyers (you) to guide, help and protect buyers in a property purchase.  We are the exact opposite of a selling agent (or listing agent).
As licenced buyers advocates, we are experienced, insured and legal real estate agents, but we only work for property buyers.  Our role is to protect buyers' interests in the property purchase.  We help buyers find the right property, negotiate and buy at the best price.  We also help buyers with inspections and provide buyers with independent, unbiased advice to help them make informed decisions, saving buyers time, money and stress.

What are the Advantage of engaging a Buyers Agent?

1. Access to Expert Advice: Buyers advocates are experienced professionals who can provide expert advice on all aspects of the home buying process. They can help you find the right property and negotiate the best price.

2. Time Savings: Buyers advocates can save you time by researching the market and identifying potential properties that meet your criteria. They can also save you time by negotiating with the seller on your behalf.

3. Negotiation Skills: Buyers advocates are skilled negotiators and can help you get the best deal possible. They know how to negotiate the best price and terms for you.

4. Risk Management: A buyers advocate can help you manage the risks associated with buying a home. They can provide advice on a range of issues, such as financing, legal matters, and building inspections.

5. Reduced Stress: Buying a home is a stressful process. Having an experienced professional on your side can help reduce the stress associated with buying a home.

What is the difference between a Buyer Agent and Listing Agent (Selling Agent or Vendor Agent) in Australia?

The typical real estate agent you see at open for inspections, and such, are your listing agents, vendor agents or sales agents. 

They sell properties and will only sell you the properties which they are contracted to sell.  So your choices are immediately limited.  They do not sell you properties which do not earn them anything.  For this selling task, they are paid commissions by the seller (or vendor).  Because the agents are paid by the vendor, they are legally required to protect the seller.  And this means they are essentially working against buyers like you.  Whatever sweet talk they say, is to get you to buy what they are selling.  They have no interest if the property is suitable or what you want.  All they want is to sell what they have to you.

Unlike sales agents, Buyers Agent (or Buyers Advocate) in Australia, is a licenced real estate professional engaged by the buyers, to look after their property purchase.  Because you are paying the buyers agent for their services, buyers agents are required by law to ensure the best purchase outcome for you.  Be it, lowest price, longest possible settlement period, etc.  They deal/negotiate with the sales agents and get the property you want, usually at the best possible price or buying terms, saving you time, money and stress.

Our experience and expertise in the property market helps you outsmart the property market, letting you avoid the inflated pricing.  We provide you with an unbiased and independent assessment of the property.  We tell you the good and the bad of the properties we recommend.  We search across all sources, to recommend the best properties for you, saving you time, money and stress.

Why Use a Buyers Agent in Melbourne?

The Melbourne property market is one of the most competitive property markets in the world.  In any given week, up to 80% of the buyers missed out on properties because of their inexperience and naiveness.  Most are either misinformed, uninformed or simply ignorant.  What's worse is, many successful buyers unfortunately ended up overpaying unknowingly.

Let's be honest.  Buyers Advocates (buyers agents) services may not be for everyone.  But through our 20+ years of property buying experience, we have found that many buyers can benefit from:

  • having a suitable property buying plan that helps them, not hinder them

  • save time in searching for the property

  • unbiased property valuation, thus avoid overpaying for the property

  • positive dealing with real estate agents

  • knowing real estate sales agents are helping sellers, not buyers.

And if one or more of the above interests you, you will likely benefit from the services of a buyer's agent.

How much are Melbourne Buyers Agents services and knowledge worth?

Only you have the answer to this.  You will need answers to these questions:

  • How much do you value your time? 

  • How much is stress worth to you?

 

The fact that high performance property buyers and successful property investors engages the services of buyers agents shows they know the value, quality and savings from a buyers agent service is worth more than the cost of the buyers advocates' service fees. 

Buyer agent services are not free.  It is not for everyone.  In Melbourne, savvy property investors are happily paying a relatively small fee to engage a buyer agent, because they understand the property buying services can save them time, money and stress. 

How much can a Melbourne Buyer's Agent save me?

The amount of money a buyers agent can save you depends on the specifics of the purchase.  An experienced buyers agent can help you secure a better deal by negotiating on your behalf, giving you access to exclusive properties, and providing you with expert guidance throughout the entire property buying process.  Ultimately, the savings you realise will depend on the unique circumstances of your purchase, the property and the skills of the negotiator.

That said, have you ever wondered how much it cost you to search for your own property? ​ Research has shown by using a buyer's agent, you can stand to be over $100,000 better off.  And we had saved one of our client $500,000.  Yes, that's half a million dollars.

Read the facts here.

Can any buyer's agents guarantee the maximum discounts in Melbourne?

No, buyer's agents do not guarantee maximum discounts in Melbourne as the market conditions and individual property's interests and circumstances will influence the price you pay.  

We are aware that many other buyers agents had been promising you they can buy a property for x% discount, while canvassing for your business.  Do be wary that the promises can change, the moment you are hooked and signed up to their services.  You could also be buying an over-valued property, and thus, they can promise x% in savings.

 

We can always low-ball an offer, but if it means you will miss out on the property, we will be doing you a disservice and we will let you know. 

Our role as independent and responsible buyers advocates in Melbourne is to help you buy the property you want, at the best possible price.  Does this always mean it is a discount?  Usually yes.  We are on your side.  We will work with you to strategize and maximise your negotiation power when we put together an offer for the property.  Our plans are to help you buy the property at the best possible price.

Some buyer's agents are promising $x thousands in savings.  How do they do that?

This is a very good question.  From our experience, some of the possibilities include:

The prices could be inflated, before they claim to "give you a good discount".  Or they could be incentivised (aka paid) by the vendor (usually developers) to sell the properties.  Or there could be something ultimately wrong with the property.  Is it falling apart?  Does it need a rebuild?  Does it have a sinister history? 

We can definitely promise you $x thousands in savings, just to get your business.  But that is not what we do.  Our morals and integrity tells us that that will be the first promise we cannot fulfil.  We've been buying properties for well over 20+ years, and experience tells us, no one can honestly promise you savings in this business.

When should you NOT use a buyer agent in Melbourne?

We're upfront with our clients.  Integrity and honesty is why our clients have trusted our opinion.  And this is why our clients are coming back for their 2nd, 3rd and subsequent properties.

We will be honest and fair with you, and our client.  Unlike other buyers advocates in the industry, we would rather turn a client away than to sign up a client who will not benefit from our services.

Briefly, if you are a very hands-on person, who knows how to and can afford the time to search, inspect, do and organise all necessary due diligence, you will find the services of a buyers advocate underwhelming.

We know it, and we are telling our clients, our buyers agent services are not for everyone and not everyone needs a home buying service.

How do you know if you need a buyers advocacy service?

If 2 or more of the following describes you, then you probably do not need a Melbourne buyers agent:

  • Your can set aside reasonable amount of time for the purchase process.

    • You do not mind spending months searching and attending property inspections.

    • You do not mind spending your weekends and evenings attending disappointing property inspections.

    • You do not mind spending your evenings on property searches, instead of spending time with your loved ones.

  • You do not mind the risk of buying the wrong Melbourne property.

    • You do not mind paying too much for your property.

    • You do not mind going all out to out-bid your competitor.

  • You trusted and graduated from the University of Google and/or University of Facebook. 

    • You trusted the faceless "experts" behind the public domain advice, and you can differentiate fact from fiction.

  • You are satisfied with the public property listing boards, and are not interested with the fact that more than 70% of the Melbourne properties sold or bought were never listed publicly.

  • You insist on low balling offers for properties.  We do not want to waste your time.

  • You insist on profiting from the misery of motivated sellers.  Sorry, our integrity says no to us profiteering from unfortunate homeowners.  But we will still get the best buying outcome for you.

You will save yourself our buyers advocacy fees by purchasing properties on your own.  And we sincerely wish you good luck.

Are all buyers agents in Melbourne the same?

Are you aware that many unlicensed property spruikers call themselves buyers agents?  At Concierge Buyers Advocates, we ensure that we are legally licensed and insured to offer the best services and advice to our clients.  We adhere to a strict code of conduct and law to protect our clients.

Unfortunately, there are many unlicensed property spruikers and investment consultants in the market who offer free services or charge a fee to enroll in their "property mentoring program."  They then charge you additional fees to buy "good investment properties at a good discount."  These fake buyers agents are only sales agents and often receive commissions from the developers they recommend.

Unlike these fake agents, licensed buyer agents are prohibited by law from receiving commissions from the seller and charging the buyer a fee.  This ensures that buyers receive impartial and independent advice on the property being purchased.  So, avoid fake property investment consultants and opt for a licensed buyer agent to receive the best advice and protection.

Who would benefit from using a Buyers Agent in Melbourne?

From our years of experience, property buyers who will benefit from the services of a Buyers Agent or Buyers Advocates are:

Property buyers who are:

  • Time Poor.  Do not have enough time to search, and inspect properties.

  • Do not know where to buy.

  • Inexperienced in buying properties in Melbourne.

  • Do not like dealing with real estate sales agents. 

  • Are inexperienced negotiators and auction bidders.

If one or more of the above describes you, you will benefit from the services of a buyer's agent.

Buyers looking to buy properties in Melbourne would benefit from using a Buyers Agent.  This includes first home buyers, investors, upgraders, and anyone else looking to purchase property in the Melbourne market.  Buyers Agents provide valuable insights into the market and can help buyers make the most informed decision when it comes to purchasing property.  They also provide assistance with negotiations, provide advice on legal matters, and assist with the entire purchase process.

How do I find a good buyer's agent in Melbourne?

Not all buyers’ agents are the same.​

Before you engage the buyers' agent, here are some questions which you should ask:

1. Are they fully licensed real estate agents?

Be wary of hiring those who are do not hold a valid real estate licence.  There are many so-called buyer's agents or buyer's advocates who are actually not licensed estate agents at all.  Buyer's agents must be licensed, by law.

Do not risk putting one your the largest investments in the hands of somebody who do not have the experience needed to protect your interest. 

Do not be tempted to engage simply because of their lower fees.

If they can provide great service and add value for their clients, they do not have to attract you to their business by offering you low fees.

2.  Are they really an independent buyer's agent?

If they are related to another real estate selling agency, they would not be independent.

How can they offer an independent, unbiased opinion on a property, if they are not dedicated, independent buyer's agents?  Remember this:  Would a Toyota car dealer sell you a Honda?

3. Do they have access to off-market properties (or silent listings)?

70% of the transacted properties are never listed on the public market.  Not all sellers want the publicity that comes with a public listing.  And good properties can sell fast, even without being listed.  It is thus critical that your buyer's agent has the right contact to tap into this silent market to help expand your property buying options.

4. How well do they know the area and the price range you are searching for?

An area specialist having good knowledge of the area is critical to helping you buy the right property, at the right location, at the right price.  If they do not have a strong knowledge of the area you are looking to purchase in, be wary.  Many new buyers agents and interstates buyers agents claim to understand the area very well, simply by looking at a set of numbers.  Fact is, numbers are lag indicators.  Numbers report things which had already happened 6-9 months ago.  IE, you are already 6-9 months too late, if you rely simply on these numbers.  Without the boots on the ground inspection and experience in the area, every "future prediction" is just a guess.  Remember the saying "Pass performance is not a indicator of future performance"?

What does a Melbourne buyer's agent fees cover?

A Buyers Agent  or Buyers Advocates fees covers the cost of the search and buy service being provided by the buyers advocate.

Buyer's agents (or buyer's advocates) typically charge a upfront non-refundable retainer fee (registration fee) of between $3,000 to $5,000.  There is also a success fee when they found the right property for you and have successfully purchased on your behalf.

This can be a percentage of the final purchase price, or a fixed fee.

The buyers agent fees at Concierge Buyers Advocates for our One-Stop property buying process covers: 

  • Initial Consultation (free);

  • Detailed Brainstorm, Exploratory Consultation; 

  • Mortgage brokers, accounting and legal professional referrals, if necessary;

  • Property search;

  • Communications with agents;

  • Communications with your mortgage broker, conveyancer / solicitor and accountant;

  • Manage other due diligence checks, including building and pest inspections, etc (you will be required to pay for these services separately);

  • Recommend and execute purchase strategies for you

  • Negotiation / bidding at auctions;

  • Pre-settlement inspection, and;

  • Keys collection.

Here at Concierge Buyers Advocates, we have other property buying services which you might be interested in here.  We have also tailored some of our property purchase plans to suit most of our customers.  Here's what we have.

Does it save to engage a buyer's agent in Melbourne?

Here is why people pay even when you can do it yourself.  This is a good question which many of our clients have asked.  

​​

  • Saves you money:  They understand the property market, and they have the industry knowledge, know what is happening in the market.  They are in it all day.  They know the fair valuation of a property, know how to negotiate to get the best price for you and prevent you from overpaying unknowingly.

  • Reduce your stress:  Buying a home or investment property is stressful.  It is a very tiring, discouraging, frustrating and unforgiving process.  The buyer's agents helps you to find your property, deal with the sales agent, and manage the rest of the purchase transactions.  We make this property buying process as stress-free as possible for buyers like you.

  • Saves you time: Time lost, is gone forever.  The faster you buy a property, the quicker you gain from the investment.  Studies by consumer group, Canstar, have shown, buyer's agent can reduce the time you waste on house hunting.  Don't waste your weekends with property searches and inspections.  Get the expert buyers to do the dirty work. Spend more time with your family.  Here at Concierge Buyer's Advocates, we take an average of 6 to 8 weeks to find the right property for our clients, while someone buying on their own could easily take 6 to 12 months.

  • More properties to choose from:  Over 70% of the transacted properties are not listed in any public domain boards.  Buyer's agents network of contacts in the industry, have given them access to all properties available for sale and the best buyer's agents like us, have access to “off market” properties (or silent listing) that you wouldn't have known.

  • Levels the playing field:  Selling agents are not your friend.  They are legally required, to look after the interest of the seller, ie, to get the best selling price.  This obviously work against you, the buyer.  To play fair, you need an industry professional to look after your buying interest and to level the playing field.  Picture this: if you were to attend a court session, would you represent yourself, or would you get an expert to represent you?

  • Get professional, independent insights.  Professional buyer's agents like us invest tens of thousands annually in property research data, artificial-intelligence property analytics, buy insights with real estate research tools.  These subscription-based data and information are worth 5 to 10 times more than the buyer's agent fees you pay.  As our client, your fees gives you access to these invaluable property insider information, in addition to the buying service.  Isn't this good value for your fees?

  • Why Concierge Buyers Advocates? Here at Melbourne's buyer's agent service, we invest hundreds of thousands of dollars in building and managing our unique data analytics platform.  Our Chief Property Advisor is a Data Management and Big Data Scientist, and runs we host our data on server with a 12-core/24-thread CPU, with 64MB Ram and over 100TB of historical, statistical models and reference property data.

How does Concierge Buyers Advocates deliver a low fee Buyers Agent Service?

As any good buyer agent should, we are mobile.  We spend over 80% of our time on the road, inspecting properties, visiting clients, visiting project sites, or networking and negotiating with other agents.  We do not need a physical office, so, we forgo the fancy office.  We come to you.  

To bring you a cost effective buyer's advocacy service, we don't do fancy marketing spins such as property investment master-classes, property buying podcasts, property investment workshops, publishing property investment 101 books, etc.  We put our time and energy into our core focus, to help property buyers and first home buyers outsmart the property market, find the right property and avoid the inflated pricing. 

We stay fully independent, to save on unnecessary gimmicky royalties and franchise licensing fees.  What does this mean to our clients?  Cutting out these fluff saves our clients over $8000 per engagement.  And we pass that savings to our clients.  

That is how we can consistently provide our clients with an affordable, cost-efficient and honest buyers agent service in Melbourne, without cutting corners.

Where can I find off-market property in Melbourne?

An "off-market" property is one that is not openly listed.  There could be many reasons why a property is "off-market".  Generally, an "off-market" property is a:

  • Property which is not for sale.

  • Property which is for sale, but not advertised on the main real estate websites such as realestate and domain.

  • Property which is for quick sale, at all cost.

  • Property that was previously listed and marketed and then withdrawn from market.

Very often off-market properties are also not staged for sale.  And it takes an experienced property professional to see through the clutter, to appreciate the true value of the property. 

Some sources claim that you can get off-markets simply by asking an agent.  Fact is, many of these off-markets which agents have are sensitive.  Owners wants privacy, or they have strict criteria for certain buyer characteristics.  Thus they are not openly listed.  And agents will respect this decision by not disclosing to everyone and anyone off the streets.  Buyers agents have this same code-of-conduct and although we have hundreds of off-market properties, we do not disclose them until we qualify our clients.  We only disclose off-market properties which we think the client will want.  We respect the sellers' privacy.

How do I calculate yield?

In property investment, there are 2 main types of yield.  Net Yield and Gross Yield.  Here are the differences.

What is the difference between Off-the-Plan and House-and-Land mortgage?

In an Off-the-Plan purchase, you typically make a 10% deposit for the purchase, and the remaining 90% is due when it it ready for settlement.  You have 1 single mortgage for the purchase.

In House-and-Land purchase, you will have 1 mortgage for the land, and a separate construction loan to build the house.  Payment is made to the builder usually at 6 different stages of the construction phase.

How can I find a Melbourne Buyers Advocates near me?

Buyer's advocates is not a new phenomenon in Australia.  Buyers advocates have been around for decades, but their fees used to be high as they cater predominantly to the upper class and professional investors.

Savvy mums-and-dads property investors in Melbourne are starting to realise the convenience and confidence of buying the right property quickly, with the help of buyers agents.

How to you choose the right buyer's advocate near you?

Ensure they:

  • are fully licenced

  • are fully insured

  • are truly independent

  • understand what you want from the property

  • are honest and upfront.

Buyers Advocates who aren't afraid to loose a business and tell you what you don't want to hear, are usually those whom you can always trust to tell you the bad news.

There are red flags to watch for, when you choose a Buyers Agents.  Be wary if the buyers agents:

  • insist on a particular property "strategy"

  • seem to have bought a house for himself/herself wherever they are recommending

  • who thrashes others' opinion

  • who thrashes your property expectations and insist on replacing that with their recommendations

  • insist on recommending brand new or off the plan or house and land packages, and charge you a fee for that recommendation.

How do you inspect a Melbourne property without being physically on-site?

It takes a lot of trust to believe the sales agent.  Afterall, the sales agent works for the seller and are legally required to protect the interest of the seller, NOT the buyer.  Our independent buyers advocates is the exact opposite of the vendor agent.  Our buyers advocates are engaged by you, the buyer, to help and protect you in the property transaction. 

When it comes to property inspections, our independence ensures you get the real picture of the property condition.  We do not need you to buy that property, and we have nothing to sell.  We are not after a sale, so we can afford to honestly let you know the condition of property. 

How can you buy an interstate properties in Australia?

Looking to buy a property interstate or from overseas?

Engage the services of a buyer's agent for an easy and safe purchase process. Our Melbourne-based buyer's agent is here to represent you and ensure you are taken care of every step of the way.  As your on-site professional buyers advocate, we will inspect the property, perform due diligence, and organise the entire purchase process on your behalf.

Why can't a real estate selling agent help buyers?

If you're looking to buy a property, it's important to understand that selling agents work for the seller, not the buyer.  They are legally obligated to get the highest possible price for the seller, so they cannot represent your interests in the transaction.  While some agents claim to work for both the buyer and the seller, there is a conflict of interest.

At our independent property buying concierge service, we're different.  As independent buyer's advocates, we have no vested interest in the property sale.  We can buy from anyone and anywhere, giving you access to the entire property market.  We research top real estate agencies such as Ray White and Barry Plant, listings on sites like realestate.com and domain.com, and our network of property sources to find the perfect property to suit your needs.

Don't settle for less than a true independent representation when buying your property.

How much are buyers agent services and knowledge worth?

High performing professional property buyers and property investors know the quality and savings from the services of a buyers agent is worth more than the cost of the property buying service.

Exactly how much you will be saving depends on your personal situation.  Obviously, if your budget is $500k, you won't be saving millions.  But, based on averages in Melbourne, using the services of a buyer agent can potentially save you over $100,000!  Find out why.

Can a Real Estate Buyer's Agent provide financial or investment advice?

No, a real estate buyer's agent cannot provide financial or investment advice. 

As a real estate buyer's agent, we specialize in properties, not financial advice. Only licensed financial advisors can provide that.  While real estate sales agents protect the interest of sellers and aim to get the highest price for their properties, buyer's agents protect the buyer's interest and help ensure a fair representation in the purchase process.  Our experience and understanding of the property market can help us confidently forecast the future price growth and potential of a property based on its characteristics and the market conditions.

Some buyer's agents in the industry advertise that they can provide free financial planning and property investment advice to get your business, but be wary of these agents.  Most do not have the necessary Australian Financial Services Licence (AFSL) to provide financial advice.  Without an AFSL, it is illegal to provide any financial advice and their projections are worth nothing more than marketing fluff.

At Concierge Buyers Advocates, we don't provide financial planning advice, but our agents are successful investors who know a good deal and property with potential when we see one.  We'll make sure you get the best representation and advice on the property itself, but for financial planning, we recommend you seek licensed financial advice.

How can I buy my property in Melbourne fast and with confidence?

Being prepared and being always aware of the every evolving property market is the key to buying your property fast and confidently.You should be sufficiently informed of the market to be able to look at a property and determine its demand, appeal, potential.It takes months of research in the area, and a good understanding of the vendor and buyer demographics, plus good insight and data support to be able to do that.

Why don't other Melbourne property buyers use a Buyer's Agent?

There are several reasons why some Melbourne property buyers choose not to use a buyer's agent.

  1. They may not be aware of the benefits of using a buyer's agent, as buyer's agent services are still relatively new in Australia.

  2. Some buyers may believe that they can handle the buying process on their own, without any expert assistance.

  3. Some buyers may not want to pay the fee for a buyer's agent, thinking that it's an unnecessary expense.

 

However, as more people become aware of the benefits of using a buyer's agent, and as the property market becomes more competitive, it is likely that more buyers will choose to engage a buyer's agent to help them

  1. get ahead of other buyers,

  2. navigate the buying process and

  3. get the best possible deal.

Just like other overseas matured markets such as USA and UK, buyers not represented by buyers will increasingly be sidelined in the buying process, and being taking advantage of by the sales agents.  They are easy target who will fall for the sales agents' marketing campaign, and pressure sell tactics.

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