Below you will find a summary of our Buyers Advocacy process & associated Buyers Advocate Fees.
Initial Property Assessment
Our preliminary verbal appraisal of suitable properties for sale using sites on the internet & taking into account your needs and wants (The Brief).
This includes location, photos, size of the property, floor plan, aspect, parking, local amenities such as schools if required, etc.
Every suburb and every location within a suburb has good and bad properties.
We filter available properties and proceed to the next step on only the best properties available.
Detailed Assessment of Property & Sales Documents
At this stage we provide you with a detailed written Property Report, assessing the Property and the entire range of Sales documents available. We read every word on every page. Here is where we identify more subtle issues or hidden deal-breakers, and identify unfavourable special conditions. Oftentimes, this is where our Buyers Advocates and Conveyancing epertise comes to the fore and our expertise in this regard can oftentimes justify our fee alone.
Our Buyers Advocacy fees or costs are based on one of the following:
A. Standard Report (no Owners Corporation)
B. Standard Report PLUS Owners Corporation Assessment
C. Standard Report PLUS Complex Owners Corporation
D. Standard Report PLUS Off Plan and Owners Corporation
Includes Special Conditions – any spec. variations, fair OC set up, best off-plan stamp duty, no power sub-stations, no material changes to Plan, ettc.
Our Buyer Agent fees are payable on Seven (7) Days. Our Buyers Agents fees include GST.
If the Property is rejected at this stage, there are no further charges to you.
Formal Buyer Agent Engagement & Final Due Diligence
If the Property passes the two prior steps, and we all agree it is a good or suitable Property that can be acquired within your budget, we will seek Formal Engagement on our Authorities to Act. Our Authorities to Act will include a Limited Power of Attorney (so we can do all the signing for you), and will contain a three-tier, incentive driven Fee Structure, where the more cheaply we as Melbourne Buyers Advocates can Buy the Property for you, the more you and we both win (See “Successful Purchase” below).
We will then hunt down any outstanding issues identified in the Property Assessment Report and seek to improve the contract.
Payable upon Engagement.
Refunded to you on a successful Buy, when using Stonnington Conveyancing at Settlement.
If we are not successful in Buying the Property for you, there is no further charge to you.
If a Property passes all of the previous 3 Steps, it is then just “all about Price”. We want to Buy Better for you so our Buyers Advocates fees encourage the best results.
Here is an example of how our Buyers Agent sliding scale price incentive fee brackets work.
e.g. the Vendors were asking $730,000 and they were quite adamant that was a bargain and “not negotiable”.
Buyers Advocate Fees Price Bracket 1
1% (plus GST) of the Purchase Price under the Contract, if the Purchase Price is higher than $690,000 but subject to and only up to the Client’s Maximum Price limit above or as otherwise Authorised by the Client (e.g at $700,000 = $7,000+GST).
Buyers Advocate Fees Price Bracket 2
1.25% (plus GST) of the Purchase Price under the Contract, if the Purchase Price is between $680,000 and $690,000 (e.g at $684,000 = $8,550+GST).Buyers Advocate Fees Price Bracket 3
1.50% (plus GST) of the Purchase Price under the Contract if the Purchase Price is less than $680,000 (e.g at $678,000 = $10,170+GST).
1.1% – 2.2% Neg. (min. fee of $5,500 incl. GST)
We negotiated them down to $675,000, saving the Client $55,000 from the asking Price and our Fee fell into the higher 1.5% bracket, earning us a few extra thousand for our good work!
Our Buyers Agent fee is payable prior to or at settlement (unless the Property is “Off-Plan”/Subdivisional, in which case 50% is payable on Seven (7) Days and the other 50% is payable prior to or at Settlement).
For more information regarding Melbourne buyer’s advocate fees and services, feel free to contact us. You can call us on +61 3 9813 8444 or go to our Contact Us page where you will find phone numbers, email addresses, a map of our office location and an online contact form.
Melbourne Buyers Advocates reduced our stress significantly and we had professional advice on property value.
1612 High Street, GLEN IRIS VIC. 3146
PO Box 207, GLEN IRIS VIC. 3146
P. +61 3 9813 8444
F. +61 3 9813 8911