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Do Not Use Metropole as a Buyer’s Agent!!! The so called Property Strategists are very convincing in terms of the investing strategy but the Buyer’s Agents who goes out and seemingly finds the “right” property for you, certainly do not practice what they preach!!! Because they get commission when they buy any property for you, they just about “force” the property on you. We were shown a 2BR “dilapidated” unit in St Kilda and informed it was a great buy, off the market, for $520K. The renovation cost (which they also receive commission) was about $40-50K and their commission about $30K! So, all in all, the unit would have cost us $600K in 2013! Now bear in mind that this is just a normal unit, NOT art deco, about 60m2, no land component, ground floor, lower ceiling than normal, etc. As we were seasoned Investor, we purchased an RP Data report and it was only valued at $480K! Luckily we backed out.
We also used Metropole in Brisbane, as we were looking to purchase in Melbourne and Brisbane concurrently, which was another big mistake!
The unit they bought us were far from our key selection criteria and it comes to a point where they “force” the sale on you and because you were so eager to buy “something for fear of missing out”, you will eventually submit to their coercion. The unit they bought us in Brisbane was WITHOUT AIR COND/FAN, which is supposed to be a key criteria over there and being from Melbourne, we overlooked this. They also initially told us there is good land component for the unit only to find out later that the supposedly land component is common area and does not belong to the unit!
Believe us, you are way better off working for yourself, doing your own research about which growth suburb to purchase, etc!
