All Topics / The Treasure Chest / Buyers agents

Viewing 7 posts - 1 through 7 (of 7 total)
  • Profile photo of WinteroseWinterose
    Participant
    @winterose
    Join Date: 2003
    Post Count: 31
    June 6, 2003 - 1:53 pm

    Hi, I have appointed a buyers agent to find and buy a property for me interstate. Has anyone done this with success? Anything to watchout for? Did you go to inspect the property when found? Are the returns and growth as expected?
    Thanx
    Cookie

    Profile photo of 4walls24walls2
    Participant
    @4walls2
    Join Date: 2003
    Post Count: 20
    June 6, 2003 - 2:22 pm

    Hi Cookie,

    I too would like some feedback on this topic. I remember reading that Sooshie said using a Buyer’s Agent was for the passive investor. I can vaguely remember Steve saying that this was giving up control. So, how do we keep control and be non-passive. Do the research so you will be stipulating location, type of dwelling, purchase price to the buyer’s advocate. Am I missing something. Is this classed as non-passive action? Here comes a stupid question…..at what point do you factor in buyer’s advocate costs…..purchase price or against future rental income. I guessing the first one?????

    regards
    4walls

    Profile photo of juliabjuliab
    Member
    @juliab
    Join Date: 2003
    Post Count: 6
    June 6, 2003 - 9:46 pm

    Hi Cookie,

    We used a buyers agent in qld. He got us a property, market value $600,000 for $470,000. How? the property was on the market 18 months prior for $470,000 and didn’t sell, the o/s owner did not know the market had moved and when he recieved a fax offering him the $470,000 he took it. We did not inspect the property as we are interstate but did spend alot of time on the internet to get a feel for prices.

    There were no costs to us for using the buyers agent, he wrote into the contract that he got 50% of the sales commission.

    This was about 20 months ago and the place is now worth about $850,000!.

    Cheers, Julia

    Profile photo of 4walls24walls2
    Participant
    @4walls2
    Join Date: 2003
    Post Count: 20
    June 7, 2003 - 12:51 am

    julia b, well done.

    I have 3 names of buyer’s advocates.
    1. buyer’s advocate at spring hill
    2. buyer’s agent at stone’s corner
    3. property research at redhill

    Anyone have any thing to say about these guys or recommend someone they have dealt with please.

    thanks and regards

    4walls

    Profile photo of WinteroseWinterose
    Participant
    @winterose
    Join Date: 2003
    Post Count: 31
    June 9, 2003 - 12:03 pm

    Hi 4walls,
    I am in Melbourne, I did my research, went up to Brisbane interviewed 2 buyers agents : Property research and The Buyer’s Agent. If you’re after capital growth Property research would be good. If you’re after positive cash flow The Buyer’s Agent is better (also would be good for capital growth) – I have appointed them. We are now looking at a duplex outside Brisbane returning 10%, we’ll see how this pans out.
    Happy hunting[^]

    Profile photo of 4walls24walls2
    Participant
    @4walls2
    Join Date: 2003
    Post Count: 20
    June 9, 2003 - 2:09 pm

    Hi Cookie,

    Thanks heaps.

    regards
    4walls

    Profile photo of 4walls24walls2
    Participant
    @4walls2
    Join Date: 2003
    Post Count: 20
    June 9, 2003 - 2:20 pm

    Hi there,

    Given the case studies from the seminar. Would one assume buyer’s agents fees to be worked into closing costs?

    regards
    4walls

Viewing 7 posts - 1 through 7 (of 7 total)

The topic ‘Buyers agents’ is closed to new replies.