4 Investment Property Buyers Agents in Melbourne: How to Compare Them

Just because you come across a great looking Melbourne property to buy doesn't mean it's the right one for your situation. Rental estimates alone say little about building condition, future maintenance or comparable sales.

This is why you need to find a good investment property buyer's agent.

The four agencies below offer different service models. Compare their scope, evidence, fees and potential conflicts of interest against your property brief; the order of these profiles is not a ranking.

What's Covered in This Article

• How to Find the Right Investment Property Buyer's Agent in Melbourne
• Buyer’s Advocate
• Wakelin Property Advisory
• Property Mavens
• Cate Bakos Property
• Melbourne Buyers Agents at a Glance
• Questions To Ask Before Choosing a Buyer's Agent
• Conclusion

How to Find the Right Investment Property Buyer's Agent in Melbourne

What you're looking to achieve with your investment is what you should be focusing on when choosing a buyer's agent. Know how much you want to spend, the type of dwelling, how long you want to hold the property and what it will cost per month.

Once you have those things figured out, here are some questions to ask yourself.

• Is the agency able to show you why they think this area, street and home is right for you?
• Can they show you evidence of similar sales, building conditions and anything else you need to know.
• Do they inspect, negotiate and go to auctions for their clients?
• Once you've purchased a property, is their service done? Can they assist with renting it out?

Having access to pre market and off market deals may broaden the range of properties available to consider, it doesn't make a service better.

Buyer’s Advocate

Great For: People who are looking to invest in residential real estate around Melbourne and want a buyers agent to help them.

Buyer’s Advocate has been operating in Melbourne since 1992 and has extensive experience with Melbourne residential property. When purchasing an investment property, they act on your behalf to help you assess an evidence-based purchase price. Their goal is to provide independent, transparent advice that puts you, the buyer, first. They do this by understanding your budget, what type of property you're looking for and where.

Not only will they look at advertised properties, but they also work closely with other Melbourne selling agents to help source pre market and off market deals for their clients. If a selling agent comes across a deal that fits your criteria, it will still be scrutinised.

Detailed due diligence is a central part of Buyer’s Advocate’s service. They will physically go and view properties and inspect for any obvious flaws. Using evidence such as comp sales, how high rental demand is in that area, etc. They will also look into surrounding properties, land zoning, easements, body corporate and how sellable it may be down the track. All this information will help them create a price range for the home that you can either negotiate privately or bid at auction.

If you were to come across an investment townhouse that you liked and live interstate. Your buyer's advocate could go and view the home, check for repairs and tell you what you should bid on at auction. If there was something wrong with the home that didn't fit your needs, Buyer’s Advocate may recommend not to go ahead. They pride themselves on giving advice and allowing you to not buy if it's not right for you.

Other things Buyer’s Advocate can provide you with:

• Searches based on your needs. What type of property, areas, price range and goals.
• Negotiating on your behalf with selling agents and bidding at auction.
• Will go through the settlement process with you, including the final inspection.
• Property Management, if your property qualifies.

There are some google buyer reviews to check out that Buyer's Advocate have received displayed by PropertyGo.

For interstate or international purchases, confirm Buyer’s Advocate’s purchase criteria, inspection arrangements and property-management eligibility before engaging the agency.

Wakelin Property Advisory

Wakelin Property Advisory has been helping Melbourne investors since 1995. Buying an investment property with Wakelin Property Advisory allows you to understand what qualities they believe will make a good investment.

By looking at properties, building quality, what they can be sold for in the future and rental projections, the team can help assess a suitable purchase price using property evidence and projections. Wakelin Property Advisory also does portfolio reviews with their clients once a year.

One reason people like working with Wakelin Property Advisory is they look at properties from an investment point of view. Whether you're trying to decide between an apartment and a house, they can explain the relative merits and risks of each option.

They also shortlist, negotiate and bid at auction for their clients. If you already have properties under your name, maybe this is the time to consider buying another property.

Ask Wakelin Property Advisory how its long-term investment approach would apply to your brief. There are no guarantees on how well an investment will perform, so treat rental projections as estimates.

Property Mavens

When choosing a buyer's agent from Property Mavens they use a 57-point checklist to assess investment properties. Along with learning how to buy, negotiate and help with settlement.

Because they have a list of items they can go through, the process may feel clearer when talking to them. You can always ask how they determined a property was a good investment.

Property Mavens help home buyers and investors buy property. Not only do they research, but they will also bid at auction. Having these steps to follow could work for some people.

As mentioned above, if you're comparing an apartment to another, ask them what they found when looking at both properties. Make sure their methods work with good information. Remember to also find out what building inspections are covered by their service and what they aren't.

Cate Bakos Property

Cate Bakos Property offers investment buyers with buyer's advocacy. From creating a detailed property brief, to finding, inspecting and bidding on your investment property. After purchasing the team can assist with selecting a property manager.

Having someone qualified to advise you on which property to buy can be very beneficial. If you're buying an investment property from interstate, you may want to utilise their services when it comes to finding a property manager.

Buying property can be difficult, especially if you've never attended an auction. Cate Bakos Property have plenty of experience buying property in Melbourne.

Melbourne Buyers Agents at a Glance

Questions To Ask Before Choosing a Buyer's Agent

How much are they charging you? Every full service buyer's agent may include different things, make sure you understand what you are paying for.

Before you appoint a buyer's agent, you should know.

• What is and isn't included in their service. Inspections, going to auctions, assisting with settlement, etc.
• What will your buyer's agent look for before saying "don't buy this".
• Agency Authority length, fee and do they receive a commission from referring clients to other third parties.
• Who will be going to properties to view them?

Consumer Affairs Victoria can tell you more about what to look for when hiring a buyer's agent.

Conclusion

Compare each agency’s written service scope, fees and approach to due diligence against your own property brief. Confirm who will inspect the property, which specialist inspections are included, whether referral commissions apply and what support continues after settlement. Verify current licensing and service terms directly before appointing an agent.