Who is KPI™?
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KPI™
is a wholly independent licensed real estate agency with no
affiliations to any other real estate organisation.
KPI™ is a member of the Real
Estate Institute of Victoria.
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What is a
Buyer's Advocate?
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A Buyer's
Advocate also known as Buyer's Agent works exclusively for the property
buyer to negotiate the purchase of a property
either by private sale or auction. Investors should note that
the investment of using a Buyer's Advocate is
tax-deductible when purchasing an investment
property.
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What is a
Vendor's Advocate?
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A
Vendor's Advocate assists vendors when selling their properties by
interviewing prospective selling agents on the
vendor's behalf, negotiate a fair selling commission and protect and
safeguard the vendor throughout the entire
process. Best of all, this service does not cost the
vendor anything as the Vendor's Advocate's fee is
paid by your chosen agent.
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When
should I use an Advocate?
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We
suggest you seek buying or selling advice on every property transaction
so that you can be educated and
safeguarded throughout the entire process.
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Why can't
selling agents help me buy the property they are selling?
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Some
selling agents assist to a
point, however, as required by Victorian legislation (Estate Agents
Act 1980) a
selling agent must act in the best interests of his/her seller
(vendor). The
selling agent’s aim should always be to
achieve the highest selling price
possible for the seller (vendor). He or she does
not, and should not, work for
you, the buyer.
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Is it too
late to use an Advocate if I have already made an offer, or the auction
is this weekend?
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No.
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Why
aren't Advocates well known?
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Although
we are becoming better
known, we do not sell properties for a start and therefore our
company exposure
is limited to our own advertising. We rarely advertise as most of our
business
is referral-based or word of mouth. Other reasons
include:
- Historical reasons - selling agents were here
first;
- The media generates very little revenue from
Advocates; and
- There is a smaller quantity of Advocates than
agents
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Should I
buy a unit or a house?
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This is a
very common question of
our clients. Many people feel that a unit would be an inferior
investment
purchase because they have only a small parcel of land on title or in
some
instances none at all. Many investors don't realise
that because the entire
block sits on a parcel of land that each unit takes
on a notional share of the
block's land value. So don't be misguided. You will often
obtain far better
investment results by purchasing small units in a prime location rather
than a
large house in outer suburban or rural areas.
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Is vacant
land a good investment?
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In most
case the answer would be
no. Most vacant land is in the outer suburban or rural areas,
where there is not
enough demand relative to supply to generate good capital growth. In
addition to
this vacant land does not generate rental income or income-related tax
concessions. The lack of rental income could make
it more difficult to meet the
holding costs, such as loan repayments and
municipal rates.
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What
about finance, tax and building inspections?
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We can
arrange inspections and
meeting with other professionals if necessary. It is important to
note we do not
charge or receive any referral fee for this service.
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What is
an Estate Agent's appraisal?
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An Estate
Agent will often be
asked to provide a market appraisal on a property. An Estate
Agent's appraisal
will encompass an anticipated price range that he or she believes the
property
would achieve if offered for sale.
It is important to note that no
bank or lending institution will allow you to borrow against an
Estate Agent's
market appraisal. The bank or lending institution would require a bank
valuation.
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What is a
Bank Valuation?
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A bank
valuation is a sworn
valuation undertaken on any property by a qualified valuer. The valuer
has won a
tender with a bank or lending institution to value properties on their
behalf.
You can use this valuation to borrow against as
security with the lending
institutions that valuer is allowed to value for.
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