Novo30Participant@novo30Join Date: 2007Post 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??JaxonParticipant@jaxonaJoin Date: 2014Post 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.
Jaxon AveryNovo30Participant@novo30Join Date: 2007Post Count: 8
Thanks Jaxon, I will keep that in mindDavid HallParticipant@wiggles2Join Date: 2014Post Count: 64Jamie MooreParticipant@jamie-mJoin Date: 2010Post Count: 5,069
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.