Why You Need Independent Advice on Real Estate Deals
There’s an abundance of real estate advice out there and not all of it is coming from people with your best interests at heart. Independent advice about real estate transactions is extremely important.
Does it matter where your property advice comes from? Yes, it really does. Relying on advice that’s not from a truly independent source can actually cost you money and short you on some key opportunities.
Protect Your Interests
Saying that the property market is a ‘grey area’ would be an understatement.
Real estate doesn’t come in neatly packed boxes or tins with all the ingredients or parts listed on the outside. It can be an exhausting struggle to sort through the vast variety of unique options specific to your needs.
This means, for example, if you are easily influenced by that slick real estate agent, aren’t thorough in your search and settle for the first property you find, you could miss out on the option that satisfies all of your needs.
You need to protect your interests by fighting for your right to examine all the features of every eligible property in a desired area. Stay on the alert to signs that any real estate advice is coming from a biased source.
Is The Advice Really Independent?
Remember, a real estate agent is acting for their client, the seller, and is likely to get a tidy commission if you buy or lease. That property might not necessarily be what you need, but what matters to the agent is that the seller, their client, gets what they need.
The above may sound pretty obvious. But in the heat of the moment it can be easy to miss.
Some property companies may claim to offer ‘tenant representation’ or a ‘nominated agent’ who will, supposedly, be your advocate in searching for the best property. What they may not tell you outright is that there are other agents on their team looking to sell or lease properties on behalf of owners or landlords. To keep the business in the family, so to speak, the buyer’s or tenant representative might limit their search to properties being offered by sellers on their team.
This is a win-win for such real estate companies. But it short-changes you of the golden opportunity to consider properties from a wide range of vendors or landlords.
Where to Look for Independent Advice About Real Estate Transactions
When you’re searching for that perfect property, you need to stay far away from ‘property pushers’ who only want to close the deal on their end. Instead, you need someone who will truly advocate for your needs as a buyer and work hard to find a suitable property.
Consider avoiding any real estate company that appears to get a lot of use from major sellers. If sellers and landlords like working with that property company so much, then that probably means the company does a good job at catering to the sellers’ preferences!
Looking for independent property transaction advice? Contact Broadway Property for a free initial discussion about your needs.
- Ben Heritage and Ryan Stewart, Directors, Broadway Property