Forums / Property Investing / Help Needed! / the buyer’s agent

Viewing 5 posts - 1 through 5 (of 5 total)
  • Profile photo of Novo30Novo30
    Participant
    @novo30
    Join Date: 2007
    Post Count: 8

    I spoke to a buyer’s agent recently that is willing to do all the work e.g. find and use their conveyancing, find a property manager to rent with and all the rest. Is this a bad thing?

    When asked how they get paid, they advise from the vendor. So it sounded to me they represent the vendor not me. Though they did say one thing that got me thinking. The prices of property they sell always meet the bank valuations.

    So if they do all they work, and are getting a cut from the vendor while also meeting the bank valuations in price. It sounds all good, but what am I missing?? what should I be asking??

    Profile photo of JaxonJaxon
    Participant
    @jaxona
    Join Date: 2014
    Post Count: 282

    Ok, So I am an agent and investor as well as Financial Planner.

    Generally you want to pay for Buying agents but its common practise (depends where though) for agents to split coms on deals.

    so listing agent gets 60/40
    buying agent 40/60

    Novo, if I was you I would keep a steady eye on every aspect, its your money and you should be in the loop and make sure their looking after you.

    If you want to have a chat and I can answer any more questions my number is 0431376130
    I can also very likely source a deal that beats most buyers agents, if that is something you ever wanted.

    Kind regards

    Jaxon Avery

    Profile photo of Novo30Novo30
    Participant
    @novo30
    Join Date: 2007
    Post Count: 8

    Thanks Jaxon, I will keep that in mind

    Profile photo of David HallDavid Hall
    Participant
    @wiggles2
    Join Date: 2014
    Post Count: 64

    If they are getting paid by the seller they are not working for you or in your best interests. They will legally be obligated to work on behalf of the seller.

    David Hall | Momentum Wealth
    http://www.momentumwealth.com.au/
    Email Me | Phone Me

    Buyers Agent

    Profile photo of Jamie MooreJamie Moore
    Participant
    @jamie-m
    Join Date: 2010
    Post Count: 5,065

    Doesn’t sound like an independent buyers agent at all.

    Sounds like you’re simply dealing with a real estate agent who’s trying to sell you a property.

    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]

Viewing 5 posts - 1 through 5 (of 5 total)

You must be logged in to reply to this topic.