Buyer's Agents can be a Waste of Money. Here's why.

Updated: 6 days ago


DIY property buying
The Future DIY Property Buyer

Let us cut through the fluff. Buyers advocate services are not for everyone. Not everyone needs the services of a buyers agent. This is why, here at Concierge Buyers Advocates we have turned away customers during our qualifications process. Most people who will not benefit from our home buying services. We would rather not have one new client than to sign up one who does not need our services.


Who are buyers advocates?

First things first. Buyers advocates are buyer-focused real estate agents. And unlike a typical real estate sales agent, our role is to protect property buyer's interest in a property purchase. If turning property buyers away is better than signing them up, that is exactly what our team of buyers advocates will and have been doing. We are known to turn away clients who would not benefit from our services.


Concierge Buyers Advocates builds our services and reputation on integrity, honesty and trust. We conduct our business with utmost integrity and honesty. We are upfront with our clients, and that is why our clients have trusted our opinion and they return for their 2nd, 3rd and subsequent properties.


To help you determine when a real estate buyers advocacy service is not for you, we've put together a quick guide below. If more than 3 of the following describes your situation, a Melbourne buyers agent is probably not suitable for you:


You have the luxury of time and are in no urgency to buy a property.

You

  • know that more than 80% of property buyers will take almost a year to buy their own properties.

  • know property prices are rising at between 1-2% every month, in the current market. I.E., you'll be paying between $30,000 to $50,000 dollars more, for each month of delay.

  • are not keen to buy your Melbourne property in under 2 months.

  • do not value your time.

  • do not mind spending your evenings and weekends doing property searches, instead of spending your precious time with your loved ones.

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

  • do not mind spending your time trying to contact real estate agents.

  • do not mind spending your time being part of the real estate agent's game.


You are prudent with your finances and you know what properties are worth.

You

  • are confident that you will not buy any wrong property in Melbourne.

  • have deep pockets and don't mind overpaying for your Melbourne property.

  • can confidently put a reasonable value to a property and do not mind going all out to outbid your competitor.

  • know you can afford to pay $30k to $50k more for the property for each month's delay.


You belong to the generation who believed Google knows everything.

You

  • have faith in the University of Google and College of Facebook.

  • have no trouble differentiating fact from fiction.

  • have no trouble differentiating generic advice from bespoke advice tailored to your needs.

  • trust the unlicensed, faceless "experts" dishing out free property buying advice in social media.

  • you do not believe people will do anything to get themselves some attention.

  • believe everything you read in social media like Facebook, Google, etc.

  • do not appreciate the confidence and security that legal licencing gives you, when you receive the advice from an licensed and real estate property advisor.


You believed all properties for sale have to be listed.

You

  • are happy and confident that you will find something on the public listing boards.

  • realise over 70% of properties are sold and bought without being listed on the public boards.

  • do not believe the hidden 70% property listings will help you.


You insist on low-balling properties.

You

  • insist on a minimum of more than 20% discount, which is unlikely, if you're after something decent. We are however definitely striving for the lowest possible price, but if that means you are under pricing yourself, and will not never be successful in the market, then we do not want to give you any false promises and waste your time.

  • insist on under pricing yourself out of the property market.

  • insist on profiting from the misery of motivated sellers. Our morals say no. Sorry!


The above guide should give you a good idea of when a buyers advocate service is not for you. You will be better off buying your property on your own, saving yourselves the buyer agency fees. Just be aware that the longer you take to buy, the more you'll have to pay for your property. We have clients who approached us after a wasted year of DIY searching. And because prices have moved 20+% in this 1 year, they had no choice but to increase their budget by between $100,000 to $300,000. If they had engaged the services of a buyer's advocate a year ago, they would have bought their properties in 3 months and avoided having to increase their budget. We recently had a client who signed up after 4 years of fruitless search. Sadly, he missed out 60% of equity growth, in the 4 years. IE, he had no choice but to pay 60% more for similar properties.


If you are still unsure if a buyers advocates service is for you, or if you're keen to buy your property fast, without overpaying for it, do feel free to get in touch.


You'll be receiving the keys to your new property in no time.


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