Property and business investment, whether buying, growing, or selling, is a significant financial and emotional decision. The right advice can mean the difference between a profitable decision and a costly mistake. With so many sources offering property advice, it is crucial to know whom to trust. Here’s a breakdown of reliable sources for advice and how to assess their credibility.
1. Licensed Real Estate Agents
Real estate agents are often the first point of contact when buying or selling property and/or business. However, like any salesperson, they are so plentiful and forthright that it can be overwhelming. Of most importance, you should select the agent with the right experience and network; one you can trust to accurately inform you, guide you, and protect your interests.
An experienced and credible real estate agent will have extensive market knowledge and can provide insights into what your property is worth and how the market is performing. It is important to recognise however, that an agent is not qualified to provide you with a valuation. An agent can provide an appraisal which is an estimate of value, and whilst it should be accurate, it carries little weight in terms of reliance.
It is essential to verify an agent’s credentials and ensure they are licensed by the appropriate real estate governing body in your State or Territory. This is particularly important as there are many people offering real estate services that are not qualified, experienced, or licensed to do so. Look for agents with a proven track record specifically in your sector/market, credible client testimonials, and strong industry recognition.
2. Certified Valuers (aka Certified Practising Valuers)
If you want an unbiased opinion on the value of a property, a certified valuer is your best bet. These professionals provide an objective and credible valuation based on the attributes of your property/business, current market conditions and recent comparable sales. A formal valuation report can be used for securing finance, tax purposes, or legal proceedings, making them a highly reliable source for valuations.
Certified valuers are highly qualified professionals. They will hold a bachelor’s or master’s degree in property or valuations, along with two to three years of post-qualification professional training to become a certified practising valuer. To specialise in a particular sector, they will usually have an additional 5+ years of further experience post certification. It is their job to be independent, accurate and objective.
3. Mortgage Brokers and Financial Advisors
When financing a property or business purchase, mortgage brokers and financial advisors play a vital role. Mortgage brokers can help you find the best loan options based on your financial situation, while financial advisors offer strategic insights into whether the investment aligns with your long-term financial goals. Ensure they are certified professionals with relevant industry experience. Generally, they will be qualified with either a diploma or bachelor’s degree, along with certified post-qualification training.
4. Legal Experts (Property Lawyers and Conveyancers)
Property and business transactions involve complex legal procedures, contracts, and regulations. Lawyers and conveyancers ensure that your transactions comply with the law, helping you avoid legal disputes and unforeseen liabilities. Their expertise is crucial in reviewing contracts, handling title transfers, and ensuring due diligence before making a purchase. They will typically hold a degree in law, and they will have completed specific post-qualification industry training, usually spanning several years.
5. Property Advisors
If you are investing in property, it pays to get advice. An experienced advisor will research the investment prospects and highlight any risks. This may include analysing market trends, forecasting returns on investment, identifying any threats, and assessing specific opportunities. Typically, a good quality property advisor will have an established track record or former career in the sector they are advising in – for example, they may have changed career from valuations or agency. However, this is not always the case, and it is important to recognise that property advisory is typically not governed, and the individual may not have property specific education or formal training in the area that they are advising on! Be cautious of “gurus” who promise unrealistic returns and/or are promoting a specific product. Always verify their experience, qualifications, and track record.
6. Government Agencies and Industry Bodies
Government agencies and industry bodies provide impartial property market reports, trends, and data analysis. These reports help in making informed decisions based on historical and current market conditions. Trusted sources include the real estate institute of your State/Territory, and industry specific member bodies. Some examples of these include Property Council of Australia, the Real Estate Institute of New Zealand, and the Self Storage Association of Australasia.
Whom to Avoid?
Be wary of ad-hoc property advisors without quantifiable professional experience, sales-driven solicitations offering agency services who prioritise commissions over your best interests, and unverified online sources with offers that sound too good to be true. Always cross-check information and seek multiple opinions before trusting an advisor or making a significant investment decision.
Conclusion
Trusting the right experts for property advice is key to making informed and profitable decisions. By consulting qualified and licensed professionals, and engaging with industry bodies, you can navigate the property investment market with confidence. Always verify credentials, seek independent opinions, and rely on evidence-based data before making your move.
Property investing can feel overwhelming. Four Leaves cuts through the complexity and guides you to smart, profitable investments. Invest with confidence. Get in touch with us at Four Leaves and let’s talk.
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Linda Sharkey | Managing Director Four Leaves Property
Linda is a self storage sales, valuation, and optimisation expert, with coverage and experience across Australia and New Zealand. As the founder of Four Leaves, Linda is passionate about the unique insights the business brings to her clients, and loves to see them grow through knowledge.
