All Topics / Help Needed! / Buyers Agent/Advocates – useful, or waste of money?

Viewing 20 posts - 1 through 20 (of 21 total)
  • Profile photo of Jay SizzleJay Sizzle
    Member
    @jay-sizzle
    Join Date: 2013
    Post Count: 25

    Just wondering what peoples thoughts are on the usage of a buyers advocate. Seems like everyone I speak to about the subject is very opinionated about their use.

    A waste of money? Or do they have their uses in special contexts?

    Profile photo of Jamie MooreJamie Moore
    Participant
    @jamie-m
    Join Date: 2010
    Post Count: 5,069

    I think they're great.

    However, like any profession – the quality can vary quite a bit.

    If you've got the time, knowledge and ability to source and negotiate on your own deals than a BA might not be appropriate for you. If you don't – then a BA could be a very good option.

    Cheers

    Jamie

    Jamie Moore | Pass Go Home Loans Pty Ltd
    http://www.passgo.com.au
    Email Me | Phone Me

    Mortgage Broker assisting clients Australia wide Email: [email protected]

    Profile photo of Jacqui MiddletonJacqui Middleton
    Participant
    @jacm
    Join Date: 2009
    Post Count: 2,539

    Hi Jay

    Following on from what Jamie said, like in any professional, quality will vary, as will what's included in the service.

    There are all sorts of reasons people might use a Buyer's Agent.  The reasons include:

    – Lack of confidence in negotiating

    – Lack of time to conduct due diligence on suburbs and properties

    – The desire to purchase in an area that is geographically far from your home and the realization it makes more sense to pay someone else to go shopping for you in lieu of forking out loads of petrol money or flight cost money, and large chunks of your spare time

    – The realization that Buyer's Agents tend to hear about deals before they hit the market

    The key is to determine what your goals are and ensure that whoever is doing the hunting for you – whether it be you or a Buyer's Agent – is working within those parameters.  If you are struggling a bit on determining what your goals/strategy should be, you'd be looking to ensure that professionals you hire are able to see the path that needs to be trodden for you and talk to you about proposed strategies before staring the hunt for properties.

    Hope this helps!

    Jacqui Middleton | Middleton Buyers Advocates
    http://www.middletonbuyersadvocates.com.au
    Email Me | Phone Me

    VIC Buyers' Agents for investors, home buyers & SMSFs.

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

    The other thing a good buyers agent does (and i have to say JacM is too modest but she is an excellent one) is listens to what you want and caters the end product around that.

    To often i see clients end up with a property that probably doesn't suit their needs and objectives and they end up saying to themselves "at least we are on the first rung of the investing ladder".

    With our "Turbo charge" your portfolio approach we have a series of stages that we walk the investor thru remembering that it is not just a one off buy and forget it is a partnership you with over a number of years to achieve what you want.

    Buying on your doorstep may not necessarily be the right approach so with an interstate or intra state purchase i think a good BA is well worth investing in.

    Cheers

    Yours in Finance

    Richard Taylor | Australia's leading private lender

    Profile photo of leaderscorpleaderscorp
    Member
    @leaderscorp
    Join Date: 2013
    Post Count: 13

    There where instances that those who did not acquire BA ended messing up their chances in owning a property. That is why; most of homeowners tend to hire a BA. If you do so, just make sure that the person is with licensed and credible.

    Profile photo of Nigel KibelNigel Kibel
    Participant
    @nigel-kibel
    Join Date: 2005
    Post Count: 1,425

    It is worth using a buyers agent especially if you are wanting to buy in another state. It is also important to make sure that the agent specializes in investment properties and also has a wide number of strategies that will suit your circumstances.

    Nigel Kibel | Property Know How
    http://propertyknowhow.com.au
    Email Me | Phone Me

    We have just launched a new website join our membership today

    Profile photo of TheFinanceShopTheFinanceShop
    Participant
    @thefinanceshop
    Join Date: 2012
    Post Count: 1,271

    Are you buying interstate or within the area you are living in?

    TheFinanceShop | Elite Property Finance
    http://www.elitepropertyfinance.com
    Email Me | Phone Me

    Residential and Commercial Brokerage

    Profile photo of leaderscorpleaderscorp
    Member
    @leaderscorp
    Join Date: 2013
    Post Count: 13

    In addition, you don't need to exert more effort since the BA will be the one to process the documents needed in your venture.

    Profile photo of Jacqui MiddletonJacqui Middleton
    Participant
    @jacm
    Join Date: 2009
    Post Count: 2,539

    Further to what leaderscorp says, yes, "some documents" are processed for you.  As to whether absolutely everything is handled for you is dependant upon the agreement with the BA.  Generally it's just the acquisition that would be handled.  Nothing to do with arranging building and pest, property management, or anything that involves dealing with the council.  I choose to handle the lot, but it's not the norm.

    Jacqui Middleton | Middleton Buyers Advocates
    http://www.middletonbuyersadvocates.com.au
    Email Me | Phone Me

    VIC Buyers' Agents for investors, home buyers & SMSFs.

    Profile photo of Nue1Nue1
    Member
    @nue1
    Join Date: 2013
    Post Count: 32

    Would people use BA for interstate IP?

    I'm also considering BA for IP that I cannot drive there.

    Profile photo of Jacqui MiddletonJacqui Middleton
    Participant
    @jacm
    Join Date: 2009
    Post Count: 2,539

    Of course.  People want to buy interstate for reasons such as spreading risk, having a property in a market that is expected to experience high capital growth, or reduction of land tax liability (by not having the entire portfolio in one state).  Australians living overseas but wanting to purchase property in Australia also find BAs very handy since they are not on the ground here to shop for themselves.

    Jacqui Middleton | Middleton Buyers Advocates
    http://www.middletonbuyersadvocates.com.au
    Email Me | Phone Me

    VIC Buyers' Agents for investors, home buyers & SMSFs.

    Profile photo of Jamie MooreJamie Moore
    Participant
    @jamie-m
    Join Date: 2010
    Post Count: 5,069

    Nue – not only are they used for interstate purchases. I've had plenty of clients use them for intra-state purchases too. 

    Cheers

    Jamie

    Jamie Moore | Pass Go Home Loans Pty Ltd
    http://www.passgo.com.au
    Email Me | Phone Me

    Mortgage Broker assisting clients Australia wide Email: [email protected]

    Profile photo of Nue1Nue1
    Member
    @nue1
    Join Date: 2013
    Post Count: 32

    That's  what I was thinking and what I will do for anywhere I have to drive more than 800km.

    Jamie, since you are in Canberra, do you know any BA for NSW?

    Thanks.

    Regards,

    Nue

    Profile photo of Jamie MooreJamie Moore
    Participant
    @jamie-m
    Join Date: 2010
    Post Count: 5,069

    Yep, where are you looking?

    Jac m who posted in this thread does.

    Jamie Moore | Pass Go Home Loans Pty Ltd
    http://www.passgo.com.au
    Email Me | Phone Me

    Mortgage Broker assisting clients Australia wide Email: [email protected]

    Profile photo of Nue1Nue1
    Member
    @nue1
    Join Date: 2013
    Post Count: 32

    Few suburbs: Narrabri, Gunnedah, Armidale, Parkes, and Albury

    Also any recommend BA for VIC and QLD will also be great.

    Does JacM do all states? or just NSW?

    Thanks.

    Nue

    Profile photo of GiumelliGroupGiumelliGroup
    Member
    @giumelligroup
    Join Date: 2010
    Post Count: 73

    A good buyers agent is worth their weight in gold if used correctly.

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

    Hi Nue

    I think JacM covers Vic, NSW, and QLD.

    Couldnt go far wrong there.

    Cheers

    Yours in Finance

    Richard Taylor | Australia's leading private lender

    Profile photo of Nigel KibelNigel Kibel
    Participant
    @nigel-kibel
    Join Date: 2005
    Post Count: 1,425

    A good buyers advocate will not only cover different markets but also different price ranges and different strategies. They will also look after your interests and not there own. I think it is important to look at a number of strategies and that could include property development, off the plan and buying established properties,

    It all depends on the individual and what there finances allow them to do. A strategy for someone on $200,000 is totally different to someone on $30,000. 

    Nigel Kibel | Property Know How
    http://propertyknowhow.com.au
    Email Me | Phone Me

    We have just launched a new website join our membership today

    Profile photo of leaderscorpleaderscorp
    Member
    @leaderscorp
    Join Date: 2013
    Post Count: 13

    I could not agree with you more Jacqui. yes

    Profile photo of DaOneDaOne
    Participant
    @daone
    Join Date: 2008
    Post Count: 38

    Can anyone suggest BA's in Geelong, Victoria

    DaOne | Oras Finance - Your Local Mortgage Broker
    http://www.ihomeloans.net.au/
    Email Me

    Help you make your dreams come true: https://www.youtube.com/watch?v=sB3KpKX4UsI

Viewing 20 posts - 1 through 20 (of 21 total)

You must be logged in to reply to this topic. If you don't have an account, you can register here.