Frequently Asked Questions
Buyers Advocates/Buyers Agents
What is the difference between a buyers agent and a selling agent?
A buyer’s agent works exclusively for the purchaser, whereas a selling agent works directly for the vendor (the seller) and is unable to give you unbiased advice. A selling agent’s responsibility, as required by law, is to act in the best interests of the vendor, while the goal of a buyer advocate is to buy for the lowest possible price and best conditions possible. Buyer advocates must act in the best interests of the purchaser, as required by law.
When should I use a Buyer Advocate?
We suggest you seek buying advice on every property transaction, the same as you would do if you were selling. You are making a huge investment, so why not make sure it is the wise one?
What is the benefit of using a buyer’s agent?
A buyer’s agent is dedicated to making your life easy when it comes to buying property. At National Property Buyers we will take the time to understand exactly what you are looking for and provide detailed market analysis on the area you are looking to purchase in.
Whether it’s your first property or if you are a seasoned property investor, we will take the time and stress out of buying. We know the tricks of the trade and can negotiate a better price on your behalf because we are experts in the industry and do this every day.
From start to finish we will assist you with every aspect of the buying process, everything from providing a shortlist of properties and arranging inspections, to bidding on the property on your behalf and organising all of the paperwork once the property as settled.
What areas does National Property Buyers operate in?
Unlike other companies, National Property Buyers operates Australian wide and will offer expert property advice in any state or territory.
How long will it take to find me a property?
The time it takes to find property for a client varies from case to case. For example, investors can be quicker than someone looking for their dream home. For some it may take a week while for others a few months, but generally we would be looking at some time between 1 to 3 months.
What happens if I find a property myself and want National Property Buyers to assess its value for money and assist me in purchasing the property?
Our services can be tailored to the individual needs of each client and we do offer an Appraise & Negotiate service. These fees are lower than premium service fees as the search time is eliminated.
Do National Property Buyers work with real estate agents?
Real estate selling agents are highly cooperative and helpful when dealing with buyer’s agents, however once we are negotiating a price with a selling agent we are on opposing sides. It is our skill as buyer’s agents to understand the tricks of the trade and use our position of advantage to achieve the best price and terms for our clients.
How does National Property Buyers charge for its service?
Our fees are usually agreed in advance and the majority of the fee is paid upon successful purchase. This is the success fee. There is an engagement fee which you pay at the beginning and this is typically $1,000 + GST. The engagement fee is subtracted from the total fee once a property has been purchased.
Engagement fee + Success fee = Total fee. Read more about our fees here.
Is there a cost for the first meeting?
No, the first meeting is free and will allow you to find out more about what we do and how we do it.
Do we have any interest in any of the properties we buy?
No, none whatsoever. Our service is completely independent and unbiased and the right property will be purchased at the right price to suit your needs.
What’s the difference between an Appraisal and a Valuation?
An appraisal is an anticipated price range that the Real Estate Agent believes the property would achieve if it was offered for sale. A bank valuation is a sworn valuation undertaken by a qualified valuer. It is important to note that no bank or lender will allow you to borrow against an Agent’s appraisal. The bank or lending institution will always require a bank valuation.
Can you buy on my behalf even if we are not there?
Yes, we do that for overseas clients regularly.
Still can’t find the information you’re looking for? Ask us a question here.
Why should I use a property manager?
Although some people choose to manage their own investment properties, it can be extremely time consuming to find suitable tenants, collect rent and arrange repair work if something goes wrong. At National Property Buyers we will look after your investment property like it is our own and make sure it is well looked after with rent paid on time. In trickier circumstances, for example if rent hasn’t been paid or the property has been damaged, we will follow the matter up to ensure you are not out of pocket and the property is restored back to its original condition.
Can you recommend how much I should be charging for rent?
Yes. We will complete a full analysis of similar properties to provide you with a medium rental price in the area. Once we take into consideration the type of tenant you would like and the length of the lease, we will recommend the worth of the property and how much you should be charging.
How soon will you be able to find tenants?
This will vary from case to case, so the most important thing is to tell us as soon as possible when you need to find new tenants. In many cases, if we already have suitable photos of the property we can advertise within the week and arrange an open inspection shortly afterwards.
For new listings we will need to take photos of the property to advertise, however we will work with you to find the most suitable time to do this. Once the open inspection has been completed and suitable tenants have been identified, we will organise all of the paperwork so the tenants can move in as quickly as possible and your rent can be collected.
How do you select tenants?
Selecting the right tenant for your property is as important to us as it is to you. At National Property Buyers we want to make sure we match the right tenants in the right place so not only are they happy, but you’ll also sleep peacefully knowing your investment property is being looked after.
Once you let us know we can look for tenants, we will immediately conduct a marketing campaign to advertise and promote your property to the widest audience. After holding an open inspection we will conduct a thorough screening process on perspective tenants, including contacting previous landlords, current and previous employers and credit reference checks.
What happens if a tenant does not pay rent on time?
We’ll take care of this and promptly resolve the situation for you, even if it requires getting new tenants
How much does National Property Buyers charge for its service?
Please contact us for further information about our fee structure.