There is a bit of a trend for savvy investors to source their next investor through a Buyers Advocate. For those of you who don’t know;
Buyer’s agents (also known as ‘buyer’s advocates‘) are licensed professionals that specialise in searching, evaluating and negotiating the purchase of property on behalf of the buyer. They do not sell real estate.
They charge a fee (Ranging from $1000 up to 2% of the total sales price) to arrange purchase a property for their client. But when you think about that – if you’re buying even a cheap investment at $300,000 – that’s up to $6,000 in fees.
So if you’re not prepared to pay that to get the professional advice on your next investment, where do you turn – Sales agent? I hate to say it, but sales agent’s tend to have a vested interest in selling you the property so there’s the opportunity there for them to provide data in its best light to sell you a property that gets them the commission!
Here’s a thought though – why not ask a property manager or business developer (for property management?). They don’t charge a fee to provide information on how much they think a property would lease for and, property managers and bdm’s do not get commission when you buy a house.
Here at Eview Werribee, we offer all potential investors free market appraisals with current comparable data on what’s available to lease as well as what recently leased in the area relevant to the house you’re interested in buying. If you’re thinking of buying an investment and you want to make sure it’s going to achieve the rent you’re hoping to get, why not get some free advice? Contact me today so I can help you understand the local market – all for free.