A buyer’s advocate or agent is a licensed professional who specialises in helping people find and buy property. A buyer’s advocate conducts targeted searches for the right sort of property for their clients, and then negotiates the purchase of that property on behalf of the buyer.
A buyer’s advocate does not sell real estate. Unlike real estate agents they are not representing the interests of the person selling the property. They are engaged by and work for the buyer, and their main task is to get as good a deal as possible for the buyer.
It’s possible to engage a buyer’s advocate just to do the negotiating for you once you’ve found a property that you wish to make an offer on. They can also represent you at auction. Alternatively – if you are time poor or not very confident about property investment – a buyer’s advocate can do everything for you to help you find and buy a good investment property.
You can expect to pay a fee to engage the services of a buyer’s advocate before they begin the search for your property. Ongoing fees can either be a percentage of the purchase price, or a flat fee depending on the agent and the level of service offered.