Buyer advocate or buyer agent is a licensed and trusted professional who is a specialist in finding out, locating, estimating the cost and negotiating while purchasing a property. These professionals do the whole thing on behalf of their client who is the actual buyer. A buyer advocate finalizes the deal completely looking after your concern as the buyer.
The expert professional acquires a property for business owners and other clients. So, you can see, these agents are not like the traditional advocates.
What is the acquisition procedure?
The property acquisition is followed by a few basic steps. Except for macro research, suburb & property selection and due diligence a few more steps are included too. They are:
- Pre-purchase valuation
- Maintenance & tenancy
- Ongoing advice
- Annual review
Therefore, a specific location is now narrowed down for the property investment. The professional buyer advocate then starts to work on the client’s behalf and selects a suitable property to fit into the pocket and to meet up his/her goal.
A property advisory includes a whole team with the buyer advocate members who are qualified and experienced enough to look after the buyer’s concern. Basically, these advocates know the real estate market closely. So, they know how to reveal those prosperous off-market listing properties. Thus they can acquire reputed property at or below market rate.
The purchasing procedure includes a thorough research on every individual property. The overall assessment involves building inspection, a survey of the neighboring area, rental returns, local transportation, scarcity or overflow of similar properties in that particular area, employment opportunities, council developments, educational and health facilities.
Negotiation is the final step in the acquisition procedure. It involves agents, rates and terms & conditions. The experts are a way to experience to finalize the deal with the possibly best outcome for the buyer.
These special experienced buyer advocates don’t take commissions from any of the legal partners. They are comfortable in working with your own financial and legal team. Also, they can recommend you to an independent and trusted broker. Actually, the motto is to meet the goal efficiently and ethically.
The whole work is performed in a structured way. You will be updated with the improving cash flow and your equity. Your property will be reviewed to meet up the investment goals.