Frequently asked questions
Why do I need a buyers’ agent?
You will save yourself money, time and stress when you engage a professional buyers’ agent to help you with your next investment property purchase. You will be empowered with the knowledge you need to make an informed decision about the value of a property without all of the sales “hype” often associated with property purchases – we protect you from making an emotional decision. You will have the benefit of our extensive research and analysis into past sales and comparable market data and will be protected from paying too much. You may also gain access to properties not yet advertised, otherwise known as “silent listings”.
Investors will gain access to our wide network of excellent investment opportunities and also get the inside knowledge of the best areas to invest. As property investors ourselves we understand the strict criteria required to buy high performing properties.
Our testimonials describe the ways we have been able to add value to our many clients. Most of our increasing client base stems from glowing referrals given by clients who have been impressed with the value and service we provide.
Does a buyers’ agent need to have a real estate background?
Yes. Rich Harvey, Director of Propertybuyer and his team have the expertise, knowledge and real estate background to deliver what they promise – many of the team are ex-real estate agents that have switched sides. Rich is a property investor himself, with a Masters in Economics, a Diploma of Property and is a Licensed Real Estate Buyers’ Agent. He is also a Member of the Real Estate Institute of New South Wales. If you are looking for a buyers’ agent team with exceptional qualifications and over 60 years combined experience, that understands property investment analysis, market trends, and can think creatively and intuitively, then the Propertybuyer team is your smart choice. Read our testimonials and you will be impressed by the results – not only with investors,
but also home buyers and corporate clients.
Is A Buyers’ Agent worth the money?
Yes! We regularly save clients far more than the fee we charge, through our understanding of the property market and our skilled negotiation techniques. We offer a fixed fee service. The advantage of the fixed fee structure is that you only pay the same fee regardless of the price of the property. There are three key areas you will get great value for money by engaging Propertybuyer:
1. Saving Time:
- Reduce the time spent searching – You will need to look at between 50 to 100 properties to get a true understanding of the market.
- Most buyers take between 6 to 12 months (or more) to buy – we can cut down the process to under 60 days
- Lost leisure and family time due to searching and attending inspections on weekends
- Time wasted at work calling real estate agents
- The time it takes you to get full market knowledge
2. Saving Money:
- Don’t risk making an emotional decision and pay too much
- Negotiating is an art – we know the tricks of the trade to secure a property at the lowest possible price
- Leverage your knowledge by tapping into ours
- Get a professional evaluation done so you have confidence to pay the right price
3. Saving Stress:
- Remove the stress and pressure of dealing with real estate agents in your search
- Get the upper hand with a buyers agent by your side
- Buy with confidence knowing you are getting totally independent advice
- Remove the frustration of being constantly outbid at auction
A buyers’ agent can save you a packet of money if they are experienced, knowledgeable and have your best interests at heart. They can take the emotion out of the negotiation and auction process and give you accurate advice on property values. They should have an extensive database of agent contacts to help you find off-market properties.
How Do I find A Buyers’ Agent?
Apart from searching online, ask a local selling agent if they have seen a good buyers agent in action. You can also ask family, friends and work colleagues about their experience with using buyers agents.
An important question to ask a buyers agent is whether they are truly “exclusive” or “independent”. If they accept sales commission from vendors or developers then they cannot be classified as “independent” as they are acting in the interests of the seller. Only deal with a licensed buyers agent (you can check license via the Office of Fair Trading in each state) and one that is a recognised member of your state Real Estate Institute and the Real Estate Buyers Agents Association of Australia.
There are seven factors to consider when selecting a good buyers agent.
- Industry experience - ask how long the buyers agent has been operating?
- Market coverage - what geographic specialisation do they have?
- Results oriented - ask about case studies and testimonials from past clients - what have they achieved?
- Network and contacts - can your buyers agent access off market properties easily?
- Research system - ask what due diligence and research systems they have in place to evaluate properties and provide real time market insights.
- Credentials - check licencing, qualifications and affiliations and if they have won awards.
- Cost - confirm the fee structure and check they don’t get kickbacks from agents.
Is it affordable to use a buyers’ agent?
Yes. We typically save our clients far more than our fee in the transaction by negotiating well. We assist property buyers of all budgets, saving you money by doing extensive research and analysis, looking at comparable sales and market data, and by negotiating hard to secure the best price, terms and
conditions possible. You will make an informed choice and will be confident that you have bought well, whatever your budget. It’s a small investment to make when you consider the savings you will make on your property purchase!
Are buyers’ agents fees tax deductible?
If you are purchasing a property for investment purposes, the cost of using a buyers’ agent is generally tax deductible (forms part of the acquisition or “cost base”). Check with your accountant to see if the fee would be tax deductible in your case. Unfortunately
you cannot claim the fee as a tax deduction if the property is purchased to live in.
Do you offer any guarantees with your service?
Propertybuyer is currently the most awarded Buyers Agency in Australia, and this public scrutiny is an unbiased testament to our integrity, value and quality of service.
We guarantee not to waste your valuable time sourcing inappropriate properties. We will deflect all the stress and detail and save you months of endless searching. We will spend time with you up front so that we clearly understand your needs and will target the search based on agreed preferences. With our help, you will save time, money and stress on your next property purchase. You will gain access to more properties, be better informed about comparable sales, the true value of a property and capital growth projections for the area, and you will make a more informed decision. When you decide on the right property, we will negotiate for you so you will be able to make a rational decision about price without the stress and pressure of dealing with real estate agents or having to negotiate.
Do you have professional indemnity insurance?
We have professional indemnity insurance to $4 million.
What is the process and how long will it take?
Our average turnaround time for investors is around 30 days and for home buyers between 40 to 65 days. After the initial meeting, where our services are further explained, questions are answered and your “buyers brief” is established, an engagement fee is paid (this amount varies according to the service you choose). Once your finance is pre-approved, the engagement fee is paid, and you are ready to buy, the search begins. We conduct thorough research and then present you with a shortlist of properties. The decision to buy is then yours.
If I engage the services of propertybuyer, will you guarantee to find me a property?
Yes – as long as your buyers brief is realistic. We guarantee to give you personal and professional service and a detailed analysis on each property we evaluate, based on your specific criteria. At our initial meeting, we will listen carefully to find out your exact requirements. We will advise you before you engage us if your property brief is unrealistic. You will also need to have your finances ready or be pre-approved for a loan before the search can begin. Once these have been established, the search can take as little as a week (up to an average of about 4-6 weeks) depending on your wishlist and the market conditions.
We work with you in partnership to help you achieve your goals quickly and efficiently. You may cancel the agreement with notice in writing.
What happens if I change my mind on an area or a type of property once I engage you? Do I have to pay another engagement fee?
We will always be working in your best interests and realise
that your ideas about the type of property you want may change. When we meet initially to discuss your “buyers brief”, we will work hard to ensure that your wishlist is achievable and also realistic, so the likelihood of changing your mind is reduced. However, if you change the initial brief significantly, there may be a review of the fee, and an additional fee would be charged to cover the time already spent searching. We will work with you to make sure you are completely happy with your next property purchase, even if you change your mind.
