It is time to change the way you buy property

It is 2019, not 1919, so it is time to change the way you buy property.

In this era of specialisation and professionalism, the traditional real estate model is way out of date.  The truth is that it is focused entirely on the Seller and their agent.  I don’t say that in a derogatory way or to insult.  It is fact.

Think about it this way: if you were having a legal dispute with someone, you would not have the same lawyer would you?  It is laughable to even suggest such an idea.  But the traditional way of buying real estate in Australia is based on that exact premise.

Here are the facts:   A real estate agent’s income is generated entirely by selling property.  They focus on finding houses to SELL.  They represent the Seller and their obligation is to get the most amount of money for the Seller as they can.  So the Seller is their client and they are paid by the Seller.  Their SECONDARY role is to find someone to buy the property at the highest price they can negotiate.  Just think about that.  They MUST get the most amount of money from the Buyer, ANY Buyer, including you.  There is a fair to good chance that you will get it all right, but a higher chance that you will get an unexpected, even rude surprise.

The traditional model makes you – the Buyer – completely responsible for knowing everything about buying property.  Whether you are going to spend $500,000 or $5,000,000, you are doing it with very little protection and next to no advice.  Unlike your job, you do not do this every day, so how do you know what questions to ask, what your risks are and how do you know if you are making the right decision?  On top of that you must do all of this while you are living your usual life – work, family commitments, friends and travel.

When you need tax advice you consult a qualified professional accountant.

When you need legal advice, you consult a qualified professional lawyer.

When have a medical concern, you consult a qualified professional medical specialist.

If you value independent advice, this diagram shows ‘who represents who’ in the real estate profession.

If you are a professional, then you know the value of your time, your money and your future.  It is no longer acceptable to take risks that may negatively impact on you and your future.

The only person who will independently represent you and look after your interests only is a professional Buyers’ Agent.


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