- TMParticipant@tmajJoin Date: 2015Post Count: 13
I’m a first time investor and finally getting to a point where I have enough for a deposit on a IP. I’ve been doing lots of reading and know that there are other areas that seem to be growing better than where I live in regional Vic. One such area is south east Queensland.
As I don’t live up there and have never bought an IP before I have been considering using a buyers agent.
I would love to hear the good, the bad and the ugly stories people have had with buyers agents in the past.
The magazines seem to recommend them a lot but at the same time every second page has an add for one so they might be slightly biased.
Of the ones I’ve researched it tends to be a $500 ish initial consult fee and then about another 10k until the whole deal is completed.
Would love to hear peoples experiences.
Cheers guysRedwoodParticipant@redwoodJoin Date: 2013Post Count: 340
If you live in regional VIC try looking at areas of Melb – do some research on this forum and propertychat and read peoples perspectives/ experiences, quite simply if you have time to educate yourself, you will be more informed to make your decision if you actually need a BA.
Cheers IvanTMParticipant@tmajJoin Date: 2015Post Count: 13
I have been doing research for about a year now and would feel quite confident getting a property in somewhere like Geelong. I want to make sure I get the right start however and if the capital growth elsewhere is going to be much better and I can get a buyers agent to assist then I would be happy to pay the fee.Richard TaylorParticipant@qlds007Join Date: 2003Post Count: 12,024
@jacm who is a member on the forum here is a Buyers Agent who covers the Geelong area.
Yours in Financesampson_701Participant@sampson_701Join Date: 2013Post Count: 20
I was in your situation less than a year ago. I decided to use a buyers agent not only for their services but also as a learning opportunity. There was so much involved in buying an IP that i didn’t know about. My buyers agent mentored me through everything and decision making. I felt much more at ease that I was starting out on the right foot. I learn’t so much and it was also an investment into myself. I also got good recommendations from the buyers agent on property managers, accountants, conveyancers etc that saved me hours of research myself to find the right team.
I don’t know if this helps, i know the $10k can be quite a bit but if I’d do the same thing again if I had it over – I feel more confident getting my next property on my own now.
Cheers.Richard TaylorParticipant@qlds007Join Date: 2003Post Count: 12,024
In my opinion 10K is far too much for a BA.
We charge a maximum of $6000 + GST and provide a full service start to finish.
Yours in Finance