All Topics / Help Needed! / Should I use a buyers agent ??
Hi im new to investing and just want to see peoples thoughts on buyers agents ? Is it worth paying the money and going with one ?
The buyer s agents I spoke to recently is called: pure Property Investment , has anyone heard of them ? Are they any good ? Anyways they are going to charge me $8800 per property if I decide to go with them . What are your thoughts ? Thanks
Is anyone on here that went with a buyers agent , im from sydney can use recommend a good buyers agent ? ThankssCorey BattParticipant@cjaysaJoin Date: 2012Post Count: 1,010
Using a buyers agent can certainly be valuable – especially if you’re new to investing or wanting to invest in an area you’re unfamiliar with (interstate etc).
$8,800 is about right, some States are more/less. The key with selecting a buyers agent is to ensure they’re working exclusively for you, not selling you developers stock for kickback/commissions.
Are you looking at using a buyers agent in Sydney, or another State?
Corey Batt | Precision Funding
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Investment Focused Finance Strategist - servicing Australia-wideRichard TaylorParticipant@qlds007Join Date: 2003Post Count: 12,024
We cover Brisbane & Melbourne and charge $6000 + GST.
We don’t buy new property or receiver kick back’s from developers and find many clients like the fact that they are dealing with fellow investors.
Course if you decide to buy in Sydney then you might find a BA down there charges you a little more than this.
Yours in Finance
Richard Taylor | Australia's leading private lenderJacqui MiddletonParticipant@jacmJoin Date: 2009Post Count: 2,539
Welcome to the forums !
The question of whether it is worth hiring a BA is rather a big question.
Depending on the service offerings that are included in a particular BA’s service, they may be of value to you in a number of ways including:
– Putting an end to analysis paralysis by doing analysis for you and getting on with acquiring a property
– Leveraging knowledge they already have about an area to move swiftly for you
– Targeting the kind of property that is possible for you to secure finance for, and with the right numbers for you to hang onto the property easily
– Walking you through little things you might not understand or even know about with respect to the purchasing process and becoming a landlord
Some BAs charge by percentage of sale price and others a flat-rate fee. Remember that GST may apply so it is important to check if GST is included in the fee quoted, and be clear on the services provided within the fee as this can be quite different from one agent to the next. For instance, normally, you will be required to nominate where you wish to buy and the agent will either take you on since your nominated suburb(s) are within their area of expertise, or indicate they cannot take you on since they do not cover your nominated suburb(s).
I find that a lot of clients are keen to do their own research/hunting and come to the realisation there is physically not enough time in their busy lives to do so. Or that they continually allow nerves to get in the way and thus never actually take the step of purchasing. These are a couple of examples of people that use BAs to take them forward more quickly than they could move alone.
Normally a BA is located local to their service area thus enabling them to be extremely familiar with the area and the market.
You probably need to work out where you are trying to get to with investing, and whether you think you can get there on your own or whether you would like a hand, whether it be only for the first purchase till you know how things work, or whether you then find that it really works for you and you feel like you can move forward quicker with the help. If you aren’t sure what sort of thing to buy or where, then a BA that includes suburb selection in their service might suit you really well.
Jacqui Middleton | Middleton Buyers Advocates
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VIC Buyers' Agents for investors, home buyers & SMSFs.
Hi cory batt , the buyers agent that i spoke to is located in sydney , but yes im looking at buying inner state in queensland brisbine , so considering his not from brisbine shpuld I not use him ?
Hi Richard tyler , im actually looking in buying in brisbine ..
Hi jacui middleeton , im looking in buying in brisbine , it seems thats where a lot of people are investing in these dayss
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