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Buyers Agent for SW Sydney?

Discussion in 'Real Estate' started by DexterJambles, 1st May, 2008.

  1. DexterJambles

    DexterJambles Member

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    Hi guys,

    After losing out on a couple of deals and not having the time to get in and assess, inspect and deal break properties from interstate I think I need to bite the bullet & enlist a buying agent to help me out.

    I want to buy a property in the Campbelltown region - can anyone recommend one? I seem to only find agents who specialise in the Sydney metro suburbs.

    Also, given the price of houses in this area are significantly cheaper are buyers agents likely to reduce fees in line with this?

    e.g. a $7K buyers agent fee represents 3% of a $230K purchase which seems significant...

    Cheers,
    DJ
     
  2. Billv

    Billv Getting there

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  3. Jacque

    Jacque Team InvestEd

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    I wish, Bill :eek:

    More like 62km away and would take at least 45mins one way, and much more in peak times, actually.

    Sorry DJ but I don't do the south area. My speciality is the north and northwest suburbs of Sydney, and this is a wide area as it is, covering the Parramatta, Hills, Blacktown, Hornsby, Lane Cove, Ku-ring-gai, Ryde and North Sydney LGA's. Unlike real estate agents who specialise in their 2-10km sqm patches of suburb, BA's end up travelling far greater distances due to the nature of the job and the fees are commensurate with the hours, let me assure you :D

    A recent example for you: my last full search client took me 96 hrs over a 2mth period to locate a home and negotiate a deal that worked and he was happy with. During that period, I enquired on 77 properties through 29 different agencies, and ended up shortlisting 21, which he then inspected and chose from. Negotiations fell through on 2 properties before we finally secured a fantastic house at a price he was 100% pleased with. During this period, he managed to work at his fulltime job without worry, coming out the occasional Sat to view shortlisted properties and sat back whilst I coordinated the entire process, including accompanying him to the PSI for final peace of mind.

    Do the maths and you'll find that the fee is on par with the time you spend doing the search yourself, not to mention accessing the information you need to make a more informed decision (RPData subscription alone is worth thousands and has a min 3mth joining period) your petrol, travel time, mobile phone calls (and these really eat into your expenses!) and how much value you place on your negotiation skills, compared to a BA who does it for a living ;) That, though not measurable, alone can be worth many more thousands than the fee we charge and I'm happy to say that we've had great success to date in the area of negotiations and ecstatic clients.

    Ok Ok enough plugging :D but I'm sure you get my gist :)

    By the way, I'm one of few BA's who charge by fixed fee, not by the price of the property. After all, it takes me just as many trips and time and effort to search for a cheap house as it does a prestige one in a more expensive suburb. Naturally, exceptions apply such as acreage properties (much more to consider and therefore more time consuming) and the size of the search area, but house price has little to do with the fee. Only REA's work this way on commissions, and it's the reason you see the wealthier REA's driving Beamers and Mercs on the North Shore whilst the western suburbs agents (largely) battle it out in their Toyotas and Holdens :D;)

    Best of luck with your search DJ and you know who to talk to if you want to change to the northwest- we have plenty of stock up here as well!!
     
  4. Billv

    Billv Getting there

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    DJ,

    Why did you pick Campelltown?
    There is a lot of vacant land that can be released in that direction and this could affect future pricing.
    I'd look North West instead

    Cheers
     
  5. mmerlin

    mmerlin Member

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    realestate.com.au has some listings of buyers agents
    http://www.realestate.com.au/cgi-bin/rsearch?a=bhp&t=as-bag

    Just make sure that if you surf with Firefox that you turn off the "AdBlock Plus" plugin otherwise you won't see any of the buyers agent's ads :p

    I therefore assume this is a "paid advertising only" section.

    Does anyone know of a more comprehensive listing of buyers agents?

    Is there like some national body or accreditation agency for buyers agents?
     
  6. Jacque

    Jacque Team InvestEd

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    Hi MMerlin

    Realestate and Domain have the most ads for BA's- you'll notice a gap over at realestate where I currently advertise :D Technical problems with my ad means that you won't see it probably until Monday now (along with another colleague who's also experiencing difficulties!) :mad: but otherwise it's been there for the last 2yrs flashing away :D

    Other places to look- check out yellowpages, REI sites in the relevant state(though NSW is a nightmare as we're not listed as independents but are instead jumbled up with selling agents which makes it tricky!) and good old Google :)

    Ensure any BA you use is appropriately licensed, insured for both PI and PL, has experience investing themselves, knows the areas they're buying in on your behalf (most important!)and has good references.

    Being a member of REI or REBAA is also recommended, as both these bodies have codes of conduct that BA's are obligated to follow. I'm currently on the Buyers Agents Chapter committee of REINSW and there are changes afoot... watch this space.
     
  7. DexterJambles

    DexterJambles Member

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    Thanks Jacque - I did look into your website before posting this question & realised that the SW may not be your target area. Unfortunately this seems to be a common theme!

    I am looking to buy in either Kingsford or NW areas later this year so I will get in contact you then. :)

    Can you recommend any BA that may operate in the SW region?
     
    Last edited by a moderator: 3rd May, 2008
  8. DexterJambles

    DexterJambles Member

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    BV, as suggested by my above post I'm also looking at NW as a possible area for an additional purchase, however I am also looking to Campbelltown due to:
    • potential in becoming a commercial hub in the SW
    • one of the most facilitated and established suburbs in the region
    • although the subdivisions do create supply, these are outside the immediate Cambelltown-metro area but I'm banking on these newer residences to result in further infrastructure, push along the gentrification process & raise the desirability of the area
    • rental yields are 5-6%
    • the NSW government seems to be investing a lot of $ in the SW corridor
    • a good purchase can see a property bought within 20% of land value
    • current prices reflect similar values to 2003

    Although some of these points can be viewed as being negatives in the area, some surrounding suburbs are also have higher values which chould contribute to pushing Campbelltown prices up.

    Unfortunately I feel I may have missed the boat to some degree though - despite looking for 4 months properties are now selling quite quickly, multiple offers are being placed on properties within only a short period of being on the market and sale prices are being pushed higher. It seems Campbelltown is starting to back the trend of the mortgage belt suburbs & turning to a sellers market.

    Given this change, I'm now considering of combining the funds I was going to use to buy 2 lower end IPs and buy an average IP closer to the CBD.
     
  9. Jacque

    Jacque Team InvestEd

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    What's your budget Dexter?
     
  10. DexterJambles

    DexterJambles Member

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    I was looking at $220-240K for a house in Campbelltown & $400-500K for a house/unit either in the inner-city suburbs or NW (West Ryde) area.
     
  11. Jacque

    Jacque Team InvestEd

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    Hi DJ

    Can't help with Campbelltown prices but I do know that even $500K is not going to get you any freestanding dwelling in West Ryde and surrounds- you're going to be limited to units and possibly townhouses or older homes (usually on busier streets) in nearby suburbs such as Ermington.

    Your money will get you a decent unit, however, closer to the city on both the north and south side of the CBD. Go for a unit in a smaller block, with parking and balcony as minimum.