All Topics / General Property / Would you like to get some thing some cash back when buying a property.

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Viewing 11 posts - 1 through 11 (of 11 total)
  • Profile photo of Tippi1Tippi1
    Member
    @tippi1
    Join Date: 2012
    Post Count: 6

    Hi, I am planning to start a business up soon and wanted to get some feed back on my ideas and see if people who are planning to buy a property or are active property investor like my services. My business ideas is where I help people search properties in south east Queensland area. I also inspect the property of their choice, where i will do a full report on the property. If they want to buy the property through my business I will reward them with 20% of the commission that I will be getting. So if you was purchasing a $500k property through my business, I will pay you $1000 for using my services. Now my question is would any who is looking for a property use my services and get some back after purchase?

    Profile photo of Richard TaylorRichard Taylor
    Participant
    @qlds007
    Join Date: 2003
    Post Count: 12,024

    Hi Tippi

    Firstly welcome to the forum and i hope you enjoy your time with us.

    Whilst i take my hat off to anyone who starts their own business (I started mine 26 years ago) i have to say to you that model is alive and well in SE Qld and has been for many a year.

    I assume you are a Licensed Agent in order to receive a commission but to be honest any potential client would need to pay Tax on the income you pay them if it was for investment and most would prefer to negotiate a lower purchase price and reduce their stamp duty cost. 

    Cheers

    Yours in Finance

    Richard Taylor | Australia's leading private lender

    Profile photo of Tippi1Tippi1
    Member
    @tippi1
    Join Date: 2012
    Post Count: 6

    Thank you for your reply, I really appricate it. Yes I am the licencee of my business. I wasn’t very good selling properties and i believe am much better at being a buyer agent and lower price that would part of the service I would.. I realise there will be tax involve when pay them but have also structure that into the payment. When you say that system is alive and well in S.E. Queensland is a lot of company doing this or just a couple?

    Profile photo of JpcashflowJpcashflow
    Participant
    @jpcashflow
    Join Date: 2007
    Post Count: 575

    Hi Tippi

    Apologies in advance if I  sound rude but I only want to be honest. If you felt you where not good at selling properties what makes you think that you will be good at being a buyers agent (which still requires selling).

    Some times the problem is not the product we are selling but how we sell.
    I love sales and their are two obstacles i faced:
    I either did not believe in the product any more or i needed to improve my mind set and skills

    Maybe do a course and get some training done!!! 

    Jpcashflow | JP Financial Group
    http://www.jpfinancialgroup.com.au
    Email Me | Phone Me

    Your first port of call in finance :)

    Profile photo of Tippi1Tippi1
    Member
    @tippi1
    Join Date: 2012
    Post Count: 6

    Thank you Johann, firstly I would like to say you didn’t offend me and I prefer someone to honest, so long it is constructive. I have looked at doing different type of course but what I found every time I did a course it’s doesn’t help because of they where set up . What I meant before about being a buyer agent is someone like a family member or a friend and even in past jobs, I have been the person source the product for them and sometimes negotiate a better price for them, so basically that why I want to go down that path.

    Profile photo of Rental ProfitsRental Profits
    Member
    @rental-profits
    Join Date: 2008
    Post Count: 28

    Hi

    If you want to be a buyers agent, and there are a few around Queensland, you will need your real estate license and become a master negotiator.

    If i don’t get a minimum of $50,000 off the asking price i would be disappointed.

    It takes skill and tactic to be a successful buyers agent

    Just because someone may be great at selling does not mean they are great at Buying, 2 different skills sets

    Profile photo of Tippi1Tippi1
    Member
    @tippi1
    Join Date: 2012
    Post Count: 6

    Thank you for comments, Well I have registered licence and I believe I am very good negotiating but when you say $50,000 off the asking price, it depends the asking price really. I believe if you can save someone a minimum of 20% then that’s more realistic.

    Profile photo of jmsracheljmsrachel
    Participant
    @jmsrachel
    Join Date: 2012
    Post Count: 711

    Hi Tippi,

    Would you really be making 20% off each sale? You could be making $100K a week??

    Profile photo of Tippi1Tippi1
    Member
    @tippi1
    Join Date: 2012
    Post Count: 6

    It is possible, Lol $100k a week, Wow that would nice but I’d rather be realistic.

    Profile photo of jmsracheljmsrachel
    Participant
    @jmsrachel
    Join Date: 2012
    Post Count: 711

    Well it would be fair to say there would be a couple sales per year were commission would be around $100K.

    Profile photo of Tippi1Tippi1
    Member
    @tippi1
    Join Date: 2012
    Post Count: 6

    Who know what future will hold but I am willing to give it a go. Thank you for comment it gives a better idea what people are after.

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