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What’s is a buyers advocate?

They’re some of the most important people on The Block, but just who are The Buyers’ Advocates

When The Block contestants are challenged to create a video selling their home they put on their thinking caps, call on their real estate agents, but most importantly they listen to the buyer’s advocates.

As the people who will be bringing prospective buyers to their property, it's the advocates who know exactly what homeowners are looking for in a property and what the contestants need to do to get their home the best possible chance of selling.

Buyers Advocates on The Block
Block icon and one of Australia's leading buyers advocates Nicole Jacobs pictured with Frank Valentic and Greville Pabst at The Block 2021 Domain Challenge.

What exactly is a buyers advocate?

That's a question Block icon and one of Australia's leading buyers advocates Nicole Jacobs is asked a lot and for her the answer is simple –they're the people you call in to make sure you get the best deal when you're buying.

“I guess in the simplest terms the advocate is the person who represents the buyer throughout the whole process of buying a new home,” Nicole says.

“That means they could search for and locate properties according to the brief the client has given, they’ll do the due diligence looking at all aspects from co-ordination of the contract of sale to make sure everything is as it should be with the clients’ chosen solicitor, they’ll coordinate building and pest inspections if they're required and most critically, they will understand the market to make sure the client has in their armoury all the information they need to make a really informed decision as to whether they want to buy that property and at what price.”

That market knowledge is key she adds, given buyers will be going up against experienced real estate agents whose role is to make you feel as if they are working with you to get you the best price, but in reality they are not - as they work for and get paid by, the vendor. Their job is to get the highest price possible.

Nicole Jacobs buyers advocate on The Block
Nicole Jacobs has helped buyers in the sale of 13 Block properties over the years.

“We are people who are either inspecting, researching, buying or just thinking about property 24/7 every day of the year,” Nicole says.

“The amount of properties we buy as opposed to someone who might buy one or two properties in their entire lifetime is huge - and we're going up against professional negotiators every time we buy, so we understand how they work.

“Really good auctioneers and really good selling agents, their job is to get the highest possible price for the seller. Their job is to manipulate the buyer so that they feel like they are getting a great deal, but they're not!

“They're actually on the vendor’s side and they are always going to be on the vendor’s side so you've got to have somebody who actually has got your back.”

Another benefit is that as a vital, but objective part of the process, a buyer’s advocate won’t make a decision based on emotion.

That’s something that trips up a lot of buyers, Nicole says, who either become too excited and spend too much or become overwhelmed and miss out.

“We take the emotion out and are able to look at the process with a professional set of eyes,” she says.

“We can say OK, if this is going to be your home for the next 20 years then stretch the budget a little, but if we think no, this is a ridiculous price then it's our job to let them know even if they might think they love a property.

“And then there’s those who buy a property out of frustration They've been in the market for some time and they get so sick of the process, then something comes up and they go: ‘That'll do!’.

“Well, you know what? ‘That'll do!’ is a very expensive mistake to make.”

Ultimately, Nicole says, an advocate can help a buyer find the house they want, in the location they want, at the price they want.

And when it’s done right, the advocate’s fee can be among the best value part of the transaction. We have clients who come back to us for multiple purchases as they know the value we offer.

Nicole Jacobs with Tanya and Vito
The key to this years Block cul de sac came from Nicole with Tanya and Vito now renovating Jacobs previous family home.

“My advice is there are a lot of advocates coming on to the scene, so interview them to make sure they fit right with you and that they come with the right qualifications and let them do their job,” Nicole says.

“And if they do that job properly, they should be able to save the client their fee - especially if they're investors because the fee is tax deductible.

“It's a bit of a no-brainer really!”

Nicole with Shaynna Blaze and her book SOLD.
Shaynna Blaze pictured with Nicole at her book launch for SOLD!


Whatever your motivation is, Nicole guides you through the process to make buying or selling your home or property as simple and stress-free as possible.
SOLD! is available online and at all good book stores.


Take a look back in time at all the previous Block auction results!


The Block auctions will air on Sunday, November 7 at 7.00pm on Nine.

 

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