Purchasing Property… Who you should (and shouldn’t) take advice from

We want to share some tips about who you should you be taking advice from when looking to buy property in Sydney. And who are potentially the worst people to give you advice about real estate.

Who you shouldn’t take advice from? 

We’re talking about those who are personally close to you such as parents, brothers, sisters, friends, work colleagues and even a husband or wife. ie – People in your day-to-day who are not professionals in the real estate industry but close to you – people you trust.

Be careful of receiving advice from people close to you, because while they have your best interests at heart, they don’t have the industry experience or understanding of what’s happening in the real estate market. Their advice is going to be mostly based on their own personal experience, and that point of view could be tainted by a past real estate experience they have had.

Their advice may not be balanced in as far as understanding the data within the real estate industry the City of Sydney property market. The advice may also not be balanced in the sense that whilst they might have your best interests at heart, they may not be willing or prepared to tell you certain elements of the real estate market, or know the full details of where you are with your search.

Be really careful about seeking advice and taking on advice from people who are close to you.

Whilst you may trust someone, it’s really important that you take advice from professionals in the industry.

Who are the people you should listen to?

Well firstly, real estate agents. Because whilst they may be working for the seller, they are on the ground and looking at real estate all day, every day, six to seven days a week. They will have a deep understanding of what is happening in the market. However, always take that advice with a grain of salt and get the opinions of a few professional sources.

Now the other professionals you should take advice from is a Buyer’s Agent. Buyer’s agents have to have your best interests at the top of their priority list. We may tell you things that you may not want to hear (but need to hear) and that may be in the form of advice such as your budget may not be enough for the kind of property you’re looking for. It may well that you are seeking to purchase property in an area that’s really not suited to your set of criteria or it could be that you may be wanting to go to auction and we have advised against it based on our knowledge of the competition and other potential buyers.

Some other examples of professionals in the industry who you should definitely be seeking advice from it would be a mortgage broker or your lender, your lawyer, your property conveyancer, building and pest inspector or strata inspector.

There are at least four to five professionals who work within the real estate industry that you could contact for a professional view and experienced understanding of what is happening in the property market.

Our advice at Cura Property is to always seek valued, independent and professional advice professionals that don’t hold a biased view of the property market.

If you are seeking professional real estate advice get in touch with the team at Cura Property 

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