Buying a home
My experience buying a home using a buyer’s advocate
1 November 2018
There can be a lot to think about when buying a home, with location, auctions and a home loan among the many things you might need to consider. That’s why having as much support and expertise at your disposal right throughout the process can help. Using an experienced buyer’s advocate is one option to help you navigate the home buying process.
Natalie is a home buyer from Melbourne who had been searching for a property for a while. She sought the help of a buyer’s advocate to give her confidence in finding the right apartment and get the best deal possible. “As a business owner, time is precious. Therefore, I wanted to get an extra level of confidence and know I was looking at the right properties in the right locations,” she says. Check out the video and hear about Natalie’s experience using a buyer’s advocate.
Using a buyer’s advocate
Natalie speaks to Suncorp about her experience using a buyer’s advocate.
Buying a home: Using a buyer’s advocate
Why did I use a buyer’s advocate? Buying a home is a really big investment. I used a buyer’s advocate because I wanted someone to help me make a smart investment; utilising their expertise on what properties will appreciate in value, to maximise re-sale down the track. They made the whole process less overwhelming and stressful.
How did using a buyer’s advocate help?
With access to on-market and off-market properties, they helped me find a property in my price range and in the area I wanted to live, inspecting a number of properties on my behalf, which cut-out houses that weren’t ‘up to scratch’ and saved me a lot of time running around.
Often a buyer’s advocate will make an offer and negotiate the sale privately to avoid going to auction. This can help snap up the property before anyone else and save the stress and unpredictability of an auction sale. In my case, the buyer’s advocate represented me on auction day.
How did the buyer’s advocate help at auction?
With all the pressure and stress of an auction, I wanted someone to bid for me, someone who could take some of the emotion out of it and make sure I stayed under my limit, getting me the best price possible on the day. The house was actually passed-in, so the buyer’s advocate negotiated the sale with the vendor, and made sure I got the house.
Is it worth using a buyer’s advocate?
Everybody’s situation is different, but I found it difficult to find the time to search for properties and analyse them. It’s stressful wondering if you’re getting the best possible deal. Having someone representing me in the lead up, and on the day of the auction, was really helpful.
Natalie’s 4 reasons to use a buyer’s advocate
Here are Natalie’s 4 reasons to use a buyer’s advocate and some things to consider, which can help guide you through the home buying process:
- To bid at auction – an auction can be a stressful experience, and it can be tough not to get emotionally invested in a property before you’ve bought it. So, having someone to bid on your behalf can help take some of the emotion out of it, make sure you stay under your limit and get the best deal possible;
- To inspect properties – say goodbye to your weekends when you’re on the house hunt; inspecting properties can be a very time intensive process, from searching through listings to driving around to see different properties. A buyer’s advocate can help with a lot of the leg work, helping to weed out houses that aren’t fit for purpose and make your job a lot easier;
- To access off-market properties – not all properties are listed online or go up for auction. A buyer’s advocate can help access these properties and negotiate privately;
- To utilise their expertise – buyer’s advocates are home buying experts; therefore, their experience can help you navigate the process, provide valuable insight, take the emotion out and make more informed decisions.
To learn more about the home buying process, visit the Suncorp Home Buying Guide.
Read more in the Home Buying Guide:
- Negotiating 101 for home buying
- VIDEO: Your home buying questions answered
- Lingo to know before you buy a home
Any advice or opinions expressed in this article and video are of the named third party and are not given or endorsed by Suncorp. The information is intended to be of a general nature only and any advice has been prepared without taking into account any person's particular objectives, financial situation or needs. We do not accept any legal responsibility for any loss incurred as a result of reliance upon it – please make your own enquiries.