7 Tips When Choosing A Buyer Agent

Not all buyer agents are equal. 

Here are 7 key things you should know before employing a buyer agent in Australia

1 - Make sure you’re paying your advocate.  Some buyer advocacy services are promoted as ‘free’.  Nobody works for free in real estate.

An agent in Australia cannot (by law) accept a fee from both buyer and seller in any one negotiation.  

If you are not paying the agent, the seller is.  In this circumstance he agent is not working for you, they are working for the seller, and most likely getting a 'kick back from the seller'

They are not a buying agent - they are a selling agent.  Walk away. 

2 - Some buyer advocates will charge a percentage of the purchase price as their fee.

In other words – the more you pay for a property, the higher their fee. 

In such circumstances, the advocate as a motivation to push you to pay more.

This is a clear conflict of interest.  

Make sure you find an agent that agrees to fix their fees in advance, regardless of how much you pay for the property. 

3 - Is your advocate licensed? The Business Licensing Authority (BLA) in each state regulates the real estate industry.

All real estate agents (including buyer advocates) must be licensed.

Make sure you are engaging with a fully licensed agent. A name check is available on each state’s BLA website. If they’re not licensed – you are advised to report them.

4 - Don’t sign up with an agent that tries to restrict you to only purchasing within certain areas of the city.  

Some agents only recommend buying within 5 – 10km of the CBD (very convenient for those offices that are centrally located).

Others recommend just apartments or townhouses (speculating on the myth that we’re all a nation of down-sizers and this is the best long term investment).

They do this because it often suits their business model.

There’s an abundance of apartments in the city – too many for the current market.  

They are a quick and easy buy.

Your advocate should be thinking outside the square. Everyone has different investment goals and needs. All need to be assessed individually. 

There are other options available for a modest budget that are as good, if not better, for you as an investor than apartments.

Buying on the doorstep of the CBD is not always the best strategy.  

There is no ‘golden egg’ to real estate investing.  

Work with an advocate that is flexible enough to suggest and consider all options suited to your needs – not theirs.

5 - Don’t believe the hype.  If your advocate starts to sound like a property spruiker or sales agent, it should be a red flag.

Comments such as “all property prices double every 7 - 10 years,” or “there’s a shortage of homes in Australia” (insinuating prices will never crash or drop) are a good indication the agent lacks knowledge and integrity. Cashmore & Co real estate advocates will never lead you down this path.

6 - Do not be afraid to ask to speak to someone the buyer agent has purchased for previously or check company testimonials.  

You need to understand exactly what their costs are and the level of service you can expect in return for your money.

7 - It’s important you trust the agent you are working with.  

If you have not worked for them before, complete your own due diligence concerning the information you have received. 

Do not feel rushed into making a decision.

Buyer advocates should be pointing out both the positive and negative in every home – they are not there to sell you the property or pressure you into buying or paying more.  

Make sure you sign a contract that enables you to walk away and employ someone else if you’re not happy with the service you are receiving.

Please contact us for more information.

 

Our Services

Buyer Advocacy

Buyer Advocacy

Whether you want us to bid at auction, or provide a comprehensive buyer advocacy service to search, asses and negotiate your ideal investment property or home, we tailor a plan ideally suited to your individual needs.

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Development

Development

We have the expertise to assist with any type of development you are considering - large, or small - from concept to completion.

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What our Clients are Saying

Catherine worked tirelessly in finding me a great property at a good price. She did things that I wouldn't have done (hours and hours of legwork) and more importantly, couldn't have done (organising the purchase before anyone else had even put in an offer). When I was ready to give up, Catherine kept working. I'm certain that I never would have been able to buy the same property within 10k of what we eventually settled at.... David
The expertise you bring are excellent and helped us understand the process and what to do and what not to do. You discussed at the beginning that by using you it will save us money and in our instance and the current environment of Melbourne’s market I believe you saved us $100,000 or enabled us to get into a suburb which going to auction would have gone way over our limit. You worked tirelessly to help us purchase a home.... Karen
“You impressed us from the start, especially compared with the other buyers agencies we approached…” - Raj

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Why use Cashmore & Co?

Cashmore & Co are experts in market cycles and property investment 

Catherine Cashmore has accrued many years experience working in the Australian real estate market. She is President of Australia's oldest economics organisation (Prosper Australia) and has lectured widely on the real estate cycle and the economics of land.

it's this knowledge that sets Cashmore & Co apart from other real estate agencies. 

Cashmore & Co won't 'spruik' the market, or try and convince you that it's always a good time to buy.

Rather, Cashmore & Co use their expertise to assist investors, home buyers, and developers to make wise decisions based on their individual budgets and unique circumstances. 

They simplify the buying process saving buyers thousands in negotiation, as well as preventing costly mistakes.

Many of our clients benefit from insider secrets we have gleaned from years of experience that buyers, sellers, and developers, simply do not have access to. 

You can’t help but accrue this kind of on-the-ground knowledge when you’re involved with literally dozens of purchases and sales each year.(And also when you have a rare knowledge of the long-term property cycle as your framework.)

Whether it’s getting into a suburb you thought was out of reach, saving a hundred grand by avoiding a too-good-to-be-true apartment pitch, or getting a foot through the door in a hot market, Cashmore & Co has all the practical property ‘hacks’ to place you ahead of the competition.

Investors not only gain assistance with their property investments; with Cashmore & Co they have access to a treasure trove of advice and strategies that help extract the maximum amount of wealth creation from the 18-year cycle that you will not get anywhere else. 

Please click here to see the range of services we offer. 

Or contact us for more information. 

About Catherine

Catherine Cashmore

Owner & Director

Herald Sun Pic .jpg

Catherine Cashmore has been working in the Australian real estate market for over 14 years.

Originally from the UK, and having also lived in the US, Catherine has extensive experience across a range of international real estate markets.

As a buyer and seller advocate, Catherine has assisted hundreds of home buyers, investors, and developers, find, assess, and negotiate, quality real estate for great prices throughout Australia.

She is President of Australia's oldest economics organisation, Prosper Australia - an organisation that has conducted vast amounts of research into the economics of land, market cycles, and the intricacies of how tax and government policy affect the markets.

Catherine is a regular and highly respected media commentator. She has often been called upon to guest lecture at universities and educational institutions (including RMIT and Sydney University) on how tax policy affects the real estate market, the design of cities, and the economy.

She is the editor of Fat Tail Investment Research's Cycles, Trends, & Forecasts, Catherine Cashmore's Land Cycle Investor, and Catherine Cashmore's Real Estate Wealth Course – publications that teach real estate and stock market investors about the land cycle, its impact on the economy, and how to create wealth from property and stocks using this knowledge.

She is also one of the former editors of the extremely popular The Daily Reckoning Australia (or the ‘DR’ as it's affectionately known to its 60,000 subscribers).  The DR is an independent financial news broadcaster that has been in the business of reporting financial trends that shape the economy since 1999.

Previously authoring the annual ‘Speculative Vacancies’ report, the only study in the world that analyses long-term vacant housing based on water usage data (Australia-focused), Catherine has an in-depth knowledge of the Australian real estate market and economic environment few can rival.

You can contact Catherine directly on 0458 143 089 or at cc@cashmoreco.com.au 

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