Episode 9: Nicole Jacobs - What Is A Buyer's Advocate?

 

Nicole Jacobs, from Nicole Jacobs Property, and regular on The Block, comes in to tell us about what a buyer's advocate does and how buyer's advocates can get you your dream property within your budget.

Today we are talking about buyer’s advocates. What is a buyer’s advocate and what do they do? What we would love to learn about in this episode is:
• What is a buyer’s advocate?
• How can they save us money?
• How do they get paid?

Intro:

Today we welcome onto Real Estate Right, one of our favourite property experts on Channel 9’s ‘The Block’, Nicole Jacobs. Director of Nicole Jacob’s Property, Nicole is a prestige property buyer’s advocate, and is here to explain to us about the wonderful world of buyer advocacy. Welcome Nicole.

Nicole, how did you get into the buyer’s advocacy business?

1. Explain what a buyer’s advocate does?
2. How do you help save buyers money?
3. What’s the typical client that uses a buyer’s advocate? What type of client should be using a buyer’s advocate to maximise their buying opportunities?
4. I’ve seen some buyer’s advocates do interesting things, like measuring the front garden, from the house to fence line. How detailed do you go into your reporting to prospective buyers?
5. Are you more about creating more valuable opportunities for a buyer or helping reduce the asking price?
6. Are there any particular resources, strategies or companies you use to help calculate what the asking price should be, or do you use your own valuing skills?
7. In the 2016 (or was it 2017? – two different articles say two different things) season of ‘the block’, you successfully bid on 3 of the 5 properties, how do you know which buyer your bidding on behalf, if you have 3 buyers? Does that happen at other auctions?
8. How are you paid? Commission? Flat rate? Or through the selling agent?
9. When you see a price range that seems a little far-fetched, but your client really wants the property (and has the money for the outrageous price), do you justify to the buyers, and the selling agent, why you would never pay that much for that property? Has it been successful in getting the buy?
10. You offer a prestige property service, are their buyer advocates for regular mum and dad investors or first home buyers?
11. Adam from Sunbury wants to know about buying an investment property closer to the city in suburbs he’s not sure about. He wants a property that has the ability to be renovated to increase its value at re-sale or maybe subdivided to build a second property? Would he be best to hire a buyer’s advocate? And do you go to the level of detail where you know the council regulations or would Adam need to do that research himself?
12. Who do you follow in the media in terms of getting your expert knowledge about the economy and real estate market predictions? And how often do they get it right?

Listen to how Nicole explains to us a completely different angle on what a buyer’s advocate does to ensure you buy the perfect home for you.

Special Listener Competition:

We have a copy of Nicole Jacobs book ‘Sold’ for one lucky winner. Like, Share and Comment on our competition facebook post on why you would love to get a copy of her book to be in the running to win.