Why Use A Buyer’s Advocate?
Firstly, a buyer’s advocate, also known as a buyer’s agent, is a licensed real estate professional engaged by a prospective homebuyer or investor to identify, evaluate and negotiate the purchase of a property on behalf of the buyer. They do not work with any selling agent or real estate agency. A buyer’s advocate will always independently represent the best interests of the buyer in a real estate transaction. It’s very easy to misunderstand the selling agent’s role and which side their representing, especially when they’re being charming and nice in their dealings with a buyer. But, remember the selling agent is always on the side of the seller!
Think about it this way: If you were getting sued, would you engage the same lawyer as the person suing you? Of course not! You need someone who will due diligently fight for your best interests and rights. And, that’s why you need a buyer’s advocate when purchasing a property.
A good buyer’s advocate will always independently represent the best interests of the buyer in an objective, transparent and time saving manner, while at the same time assisting them during every step of the property buying process.
Essentially, the role of an independent buyer’s advocate is to:
- Find and identify the most suitable and best available properties in the market according to the buyer’s requirements, needs and property goals.
- Evaluate and shortlist properties for buyer’s consideration and help select which property is the most appropriate based on the buyer’s criteria.
- Undertake comprehensive property due diligence on the buyer’s selected property highlighting its strengths and weaknesses independently and objectively.
- Negotiate the lowest possible purchase price with the best terms and conditions on behalf of the buyer.
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