Forums / Property Investing / Help Needed! / Rethink Investing – Buyers Agents

Viewing 19 posts - 1 through 19 (of 19 total)
  • Profile photo of Sam80Sam80
    Participant
    @sam80
    Join Date: 2010
    Post Count: 9

    Hey,
    Just wondering if anyone had purchased property through rethink investing or had any dealings with them? Looking to buy an interstate property using their services to make sure I get a great property. They have an initial sign up fee of about $1k to view properties then they can source exactly what your after which costs around $7,600 for properties under $500k. Any thoughts would be greatly appreciated.

    Regards
    Sam

    Profile photo of DannyDanny
    Participant
    @dannyhighwealth-com-au
    Join Date: 2018
    Post Count: 9

    Hey Sam,

    Buyers agents are a great resource and can help you to make a wise decision. Though charging you to help you purchase a property is not necessary.

    We don’t charge any fees with our model and in fact we pay our client’s flights if they are interstate post settlement of a property that was introduced to them by us. That’s our commitment to our clients. Our services are also obligation free. Hope this helps.

    Kind regards,
    Danny

    Profile photo of Richard TaylorRichard Taylor
    Participant
    @qlds007
    Join Date: 2003
    Post Count: 12,018

    Hi Danny

    Good to hear you don’t charge a fee to your clients.

    Can we confirm that is for established homes as well as knew property?

    Cheers

    Yours in Finance

    Richard Taylor | Mortgage Broker helping investors build their wealth thru property
    http://www.mortgagecapitalaustralia.com.au
    Email Me | Phone Me

    0-40 Properties in a decade with a unencumbered portfolio value in excess of $40M. Ask me for a copy of my API Interview.

    Profile photo of DannyDanny
    Participant
    @dannyhighwealth-com-au
    Join Date: 2018
    Post Count: 9

    Hi Richard,

    Thats correct. The properties we introduce to our clients are either to be built, new or near new.

    Kind regards,
    Danny

    Profile photo of TerrywTerryw
    Participant
    @terryw
    Join Date: 2001
    Post Count: 16,190

    Hi Richard,
    Thats correct. The properties we introduce to our clients are either to be built, new or near new.
    Kind regards,
    Danny

    How do you make money in that case Danny?

    Terryw | Structuring Lawyers / Loan Structuring Pty Ltd
    http://propertytaxbook.com.au/
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    Lawyer, Mortgage Broker and Tax Advisor (Aust wide) http://propertytaxbook.com.au/

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

    Clearly they make a $30,000 commission

    Nigel Kibel | Property Know How
    http://propertyknowhow.com.au
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    We have just launched a new website join our membership today

    Profile photo of DannyDanny
    Participant
    @dannyhighwealth-com-au
    Join Date: 2018
    Post Count: 9

    Dear Terry and Nigel,

    We get paid a commission from the vendor, no different to any other real estate agent.

    Our model works. With our assistance, our clients have built up multimillion dollar portfolios.

    Kind regards,
    Danny

    Profile photo of TerrywTerryw
    Participant
    @terryw
    Join Date: 2001
    Post Count: 16,190

    Then who is your client the vendor or the purchaser?

    Terryw | Structuring Lawyers / Loan Structuring Pty Ltd
    http://propertytaxbook.com.au/
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    Lawyer, Mortgage Broker and Tax Advisor (Aust wide) http://propertytaxbook.com.au/

    Profile photo of DannyDanny
    Participant
    @dannyhighwealth-com-au
    Join Date: 2018
    Post Count: 9

    Dear Terry,

    The purchaser is always our client.

    Kind regards,
    Danny

    Profile photo of TerrywTerryw
    Participant
    @terryw
    Join Date: 2001
    Post Count: 16,190

    But the vendor pays?

    You might want to get some legal advice on that.

    Terryw | Structuring Lawyers / Loan Structuring Pty Ltd
    http://propertytaxbook.com.au/
    Email Me

    Lawyer, Mortgage Broker and Tax Advisor (Aust wide) http://propertytaxbook.com.au/

    Profile photo of DannyDanny
    Participant
    @dannyhighwealth-com-au
    Join Date: 2018
    Post Count: 9

    Dear Terry,

    Thanks for the tip. But I think it’s common knowledge that vendors who use the services of a real estate agent pay a commission to the agent upon a successful sale.

    Kind regards,
    Danny

    Profile photo of TerrywTerryw
    Participant
    @terryw
    Join Date: 2001
    Post Count: 16,190

    But you are contracting with both parties.

    I will leave it with you..

    Terryw | Structuring Lawyers / Loan Structuring Pty Ltd
    http://propertytaxbook.com.au/
    Email Me

    Lawyer, Mortgage Broker and Tax Advisor (Aust wide) http://propertytaxbook.com.au/

    Profile photo of DannyDanny
    Participant
    @dannyhighwealth-com-au
    Join Date: 2018
    Post Count: 9

    Dear Terry,

    Oh no no no. Now I see where you’re coming from. If you see my first comment above,

    Our services are also obligation free.

    there is no contract or commitment for the purchaser to go ahead and purchase a property we introduced to them. Whereas a buyers agent would normally have a contract with the buyer, we don’t. Our aim is to provide the best possible service to our clients leaving them the option to make up their own mind whether or not to go ahead with a property we introduced to them.

    I hope this clears things up.

    Kind regards,
    Danny

    Profile photo of TerrywTerryw
    Participant
    @terryw
    Join Date: 2001
    Post Count: 16,190

    You are missing my point it seems. You said you act for the purchaser, so you would have a contract with them. If nothing in writing then it would be an oral contract. This is a potential conflict of interest as you are representing 2 clients on the opposite ends of the same transaction.

    What happens for instance if there are negotiations done – which there would always be. What if there is a defect with the property and you don’t tell the vendor, what if you are privy to some important information about the buyer that you don’t tell the vendor etc/

    Terryw | Structuring Lawyers / Loan Structuring Pty Ltd
    http://propertytaxbook.com.au/
    Email Me

    Lawyer, Mortgage Broker and Tax Advisor (Aust wide) http://propertytaxbook.com.au/

    Profile photo of DannyDanny
    Participant
    @dannyhighwealth-com-au
    Join Date: 2018
    Post Count: 9

    Dear Terry,

    There is no written or oral contractural agreement between ourselves and the purchaser. We provide the information for a purchaser to make their own decision in purchasing a property.

    Occasionally when there is a defect with the property, the vendor is notified and is repaired at the vendor’s cost. Clear lines of communication are maintained for all parties.

    Kind regards,
    Danny

    Profile photo of TerrywTerryw
    Participant
    @terryw
    Join Date: 2001
    Post Count: 16,190

    So you act for the vendor?

    Terryw | Structuring Lawyers / Loan Structuring Pty Ltd
    http://propertytaxbook.com.au/
    Email Me

    Lawyer, Mortgage Broker and Tax Advisor (Aust wide) http://propertytaxbook.com.au/

    Profile photo of DannyDanny
    Participant
    @dannyhighwealth-com-au
    Join Date: 2018
    Post Count: 9

    Hi Terry,

    We sell for the vendor by sourcing purchasers. We provide due diligence information and the purchaser decides whether or not to purchase. We don’t charge the purchaser for our services.

    Kind regards,
    Danny

    Profile photo of TerrywTerryw
    Participant
    @terryw
    Join Date: 2001
    Post Count: 16,190

    Hi Danny

    Sounds like you are an agent contracting with the vendors to me.

    Lets leave the debate there.

    Terryw | Structuring Lawyers / Loan Structuring Pty Ltd
    http://propertytaxbook.com.au/
    Email Me

    Lawyer, Mortgage Broker and Tax Advisor (Aust wide) http://propertytaxbook.com.au/

    Profile photo of DannyDanny
    Participant
    @dannyhighwealth-com-au
    Join Date: 2018
    Post Count: 9

    Hi Terry,

    Thanks for your interest in what we do.

    Kind regards,
    Danny

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