Frequently Asked Questions
1. What is a Buyer’s Agent?
A Buyer’s Agent, also known as a Buyer’s Advocate, specialises in searching for, researching and negotiating the purchase of property on behalf of a buyer. We can also coordinate all of your post contract administration once a suitable property has been purchased on your behalf through to settlement. Because we are dealing with real estate agents all the time, we gain access to properties that are off market or not yet advertised, which increases the chances of finding a great deal.
2. What is the difference between a Buyer’s Agent and a real estate agent/selling agent?
The difference between a Buyer’s Agent (or buyer’s advocate) and a real estate agent (selling agent) is who they represent.
A Buyer’s Agent exclusively represents the buyer and secures property at the absolute lowest price.
A real estate agent exclusively represents the vendor (seller) and strives to sell property at the absolute highest price.
3. Are Buyer’s Agents for high-end purchases only?
Not at all. We can help you find a property regardless of your budget.
4. Why would I use My Property Scout as my Buyer’s Agent?
If you’re frustrated with the buying process, time poor, lack the knowledge to choose a great property, lack confidence when bidding at auction, located overseas or interstate or keep missing out on the perfect property, this service is for you. By utilising My Property Scout, you’re simply outsourcing the job to the professionals. We have the time, skills and networks in place to ensure clients find the home or investment property they want quickly, for the right price and with minimum fuss.
5. Is using My Property Scout cost effective?
Yes. Despite your budget, My Property Scout’s fee is a very small investment when you consider:
- the expert knowledge you receive. Imagine having your every question being answered from loans to locations, property management to pest reports. It’s like having a private mentor.
- the extensive research and analysis that is completed.
- the time you save in negotiations.
- the benefit of dealing with My Property Scout only, circumventing real estate agents (sorry agents!).
- the reduced risk
- all of your post-purchase administration managed and coordinated
And remember, the success fee is only payable once a great property is secured.
6. Does My Property Scout provide services for all budgets and types of properties?
Yes, absolutely. We cater for every client’s needs from one bedroom apartments to waterfront and riverfront units and houses in any price range. We can also source commercial properties.
7. What services does My Property Scout offer?
Visit this page to view our Property Services.
8. What is the process?
Visit this page to view Our Process.
9. How long does the process take?
Most properties are sourced between 2 -4 weeks as long as the client brief is realistic. If your brief and criteria for the purchase are not realistic, My Property Scout will work with you to demonstrate you what is available and achievable in the current market.
10. How involved will I be in the process?
You can be involved as little or as much as you like in the process. Either way, My Property Scout will provide you with all the tools you need to make an informed decision, including, but not limited to suburb reports, property reports, a walk through video.
If you are located in Brisbane, we encourage you to inspect the property prior to purchase.
11. How long are you engaged for?
Our standard engagement agreement is for six months.
12. How often will we communicate?
We will keep in regular contact with you throughout the process, and while property searches are underway, it is usually several times weekly depending upon what properties are available. My Property Scout will provide feedback on properties immediately after we have inspected them.
13. What property information do you provide?
It depends on the service provided, however, you may receive property reports, location reports, diagrams, photographs, a walk-through video, recommendations and a comparative market analysis.
14. Can My Property Scout access property before it comes on the open market?
Yes. My Property Scout has built up great relationships with countless real estate agents in Brisbane, therefore properties are constantly being brought to our attention before being advertised. We are contacted on a regular basis to determine if we have clients who may be interested in buying a home or investment property. The properties are then qualified and, if suitable, are inspected as soon as possible, most often prior to the first ‘open for inspection’.
15. Are my search criteria realistic?
Brisbane has had some solid growth over the past few years and competition has increased with the influx of interstate buyers, mainly from Sydney and Melbourne. If you’re not sure what you’re looking for, where you’re looking and how much it will cost, My Property Scout will work with you to demonstrate you what is available and achievable in the current market.
16. What if I change my mind about the location or type of property during the process?
It is not uncommon to revise the buying criteria early in the search process, however, if there is a significant change of buying criteria later in the process such as a change from a house to a unit, or the price point changed, then a new agreement may need to be entered. In this case, cancellation of the agreement would attract an invoice for the works completed at that point.
17. What if I change my mind and don’t want to proceed?
Once paid, and work has commenced, the appointment fee is non-refundable. If you change your mind and wish to cancel the agreement after significant work has been undertaken, then an additional fee may be charged to cover the cost of work completed.
18. Does My Property Scout guarantee they will find me a property?
Yes, if your expectations are realistic and match your budget, My Property Scout will search to find a property that matches your criteria.
19. What happens if My Property Scout can’t find what I am looking for?
It is important that the initial consultation phase looks at the client’s criteria including budget and desired proximity to the Brisbane CBD. If it doesn’t look possible, My Property Scout will be up front about whether we can find what you are looking for. Sometimes, during the search phase, if we are not locating properties that meet a client’s requirements then we may need to adjust the search criteria.
20. Do you buy in regional locations?
Yes, we can purchase in regional locations. Properties located more than 50kms from Brisbane CBD incur additional travel fees. For locations outside a 50km radius of Brisbane CBD, contact us to discuss your requirements.
21. What if the property requires some renovation or maintenance work to be done?
My Property Scout can project manage major building works and cosmetic renovations to enhance livability and accelerate capital growth. We work with builders and renovation companies who can transform your property for your every need.
22. Can My Property Scout assist in purchases outside Brisbane?
Yes, however this will incur extra travel expenses. Visit this page to view our Fees.
23. Does My Property Scout ever represent the vendor in selling a property?
My Property Scout offers a vendor advocacy service to assist and support vendor sell their home.
24. Can you bid for me at auction?
Yes. Visit this page to view the Auction Bidding process.
25. How much does it cost?
Visit this page to view our Fees.
26. What happens if I find a property myself?
Once you have signed an agreement with My Property Scout as your buyer’s agent, you will be responsible for paying full fee regardless of who locates the property. If a client were to purchase any property during the engagement, or purchase any property that was introduced after the agreement has ended, the client is entitled to pay My Property Scout a full fee. Many clients like to be involved in the search process and often email properties through to us for consideration. We report on those properties and give feedback.
27. I want to do part of the process myself, do you offer a discount?
We offer partial buyer’s agent services for those clients who require it.
28. Are Buyers’ Agent fees tax-deductable?
If you are purchasing a home to live in (owner occupier), there are no tax advantages on Buyer’s Agents fees, however if the property is for investment purposes, buyers should obtain advice from their tax accountant, as the costs may form part of the cost base for capital gains purposes which will affect future capital gains tax (CGT) on the sale of the property at a later date. You won’t be able to claim the cost of a Buyer’s Agent in the year of purchase or receive any tax benefit against your income tax.
29. Do I get a discount if I use My Property Scout’s service again?
We appreciate your loyalty. Therefore, second and subsequent purchases receive a 10% discount.
30. What happens when a suitable property is found?
My Property Scout clients are walked through the process as it unfolds. They are involved in reviewing the shortlisted properties, given suburbs reports, property reports, a walk-through video, have access to data and comparable sales analysis and are given the ‘pros’ and ‘cons’ of every property inspected. All of this information plus the client’s valuable input means that when a suitable property or properties are found, the client is well versed and confident that an offer should be made. Clients are never pressured into making a purchase if they are not 100% happy with the property.
31. How do I get started?
Phone Tracy Leske at My Property Scout on 0450 047 100.
Email us at email@example.com.
Complete the Questionnaire here.
Use this form to Contact Us.