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Buyers agents QLD

Discussion in 'Real Estate' started by Scotty, 30th Oct, 2006.

  1. Scotty

    Scotty Member

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    Location:
    Pheasants Nest,NSW
    I am looking to invest in SE QLD but not too familiar with the area and am considering using a Buyers Agent.

    I have spoken to 3 or 4 already and the fees seem to be around $8000-$10,000 for a full service i.e. search, evaluate and negotiate on a $400,000 purchase price.

    I found another company by the name of Home Buyers Hotline who charge sub $4000 for purchase only and sub $2000 if you rent through their own property management service. They have been trading for 5 years.

    Has anybody had any dealings with this agency? If their fees are below most, is it a case of " you get what you pay for"?
     
  2. qlds007

    qlds007 Member

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    Location:
    Brisbane, Australia
    Live in the area myself so i personally don't use anyone.

    Refer most of my clients to H-SPHERE who are Tassie based but cover a lot of areas. Give them a ring and talk to Paul or Julie tell them i referred you.

    No i dont receive a kickback or any other form of referal fee just like to see clients get what they are after.
     
  3. Jacque

    Jacque Team InvestEd

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    Hi Scotty

    I'd recommend Scott McGeever from propertysearchers.com.au if you are looking in Brissy, Gold or Sunshine Coast. He's experienced, an ex-valuer and knows his areas well.

    Far better to go off a personal recommendation than someone out of the Yellow Pages or simply because their fee is cheaper, in my humble opinion, as hiring a BA is such a position of trust.

    Good luck with your search :)
     
  4. Insight

    Insight Brisbane Buyers Agent

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    Incidentally Scott McGeever is speaking at the BIG meeting tomorrow evening (Tuesday 31st).
     
  5. Jacque

    Jacque Team InvestEd

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    So did anyone here listen to Scott?
    Would be interested to hear his thoughts on the current market in Brisvegas right now..
     
  6. Scotty

    Scotty Member

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    Location:
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    buyers agent qld

    Thanks for replies.

    Have spoken to Scott McGeever and a few others. I'll let you know how I go.
    Has anybody heard of the Buyers agent by the name of Home Buyers Hotline?
     
  7. Jacque

    Jacque Team InvestEd

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    Hi Scotty
    A truly independent BA working in your best interests shouldn't be selling real estate, in my opinion, as it's a clear conflict of interest. If you dig a little deeper, you'll find that Bob Lambert (owner of HBH) is actually selling properties such as this one:

    4/116 STEPHENS STREET MORNINGSIDE - Real Estate for Sale - realestate.com.au
     
    Last edited: 4th Nov, 2006
  8. Scotty

    Scotty Member

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    Thanks for the warning, I appreciate it.
    I feel better now.
     
  9. Jacque

    Jacque Team InvestEd

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    No worries, Scotty. So how did you go in the end?
    Did you manage to locate an agent for the job?
     
  10. Scotty

    Scotty Member

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    Have contacted a couple of BAs thanks Jacque. Probably will go with your recommendation - Scott McGeever.
     
  11. Jacque

    Jacque Team InvestEd

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    Good luck with it all then, Scotty. Would love to hear how you go with Scott and what you end up buying- exciting times ahead :)
     
  12. Redwing

    Redwing Well-Known Member

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    Some BA's fees appear high to me (though if they can save you money on the purchase and get you into the right property it may be worth it)???

    maybe I'm just a Tight*** :D
     
  13. islandgirl

    islandgirl Well-Known Member

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    Location:
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    I agree, if you can do it yourself why would you pay a BA. Its a lot of money to recoup. However if your in a very time poor position like myself they can make the difference between buying a property and not buying a property. I simply do not have the time to go and inspect 100 properties and evaluate every deal. Sure I basically know what I require in my investment plan to achieve my goals, so for me to be able to pay someone to do the legwork is worth the money. Horses for courses I guess:)
     
  14. Redwing

    Redwing Well-Known Member

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    Even more so if your looking interstate (say you take a week off)
    • Time off work
    • Flights
    • Accomodation
    • Transport whilst there
    • Associated Costs
    And hoping to find the right property in a week (though smart people such as ourselves would have narrowed it down somewhat with our Due Dilligence ;) ).

    What is the true cost and is it worth it?

    DIY or BA
     
  15. Simon Hampel

    Simon Hampel Co-founder Staff Member

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    Same with any service - if you could do it yourself (ie you have the skill AND the time), then there's no real point in getting someone else to do it.

    But it's when you don't have the skills (or just want to supplement your skills with some local knowledge and experience), and especially if you don't have the time ... then using a service can make a lot of difference.

    Like everything else - it's a matter of leveraging your time and skillsets to the best possible effect ... paying for someone elses time may make a huge difference.
     
  16. Jacque

    Jacque Team InvestEd

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    Several reasons to use a BA, whether or not you live locally or interstate/overseas:

    TIME: For those of you have done your DD and invested the time involved from start to finish on a property transaction, you can appreciate the amount of hours invested. Average time per client on a full search ranges anywhere from 40-120 hrs. For most of us as investors, our time is limited to Saturdays whilst a BA operates 6 days a week. Big advantage here.

    KNOWLEDGE: Local knowledge of an area counts big time as you are relying on someone who not only is familiar with the city/suburbs and their ads and disads but can be trusted to lead you to the "right" sections of town, and not be influenced because of a particular listing on their books.
    Knowledge of specific state contract law is also a major benefit and can speed up transactions to the buyer's advantage.

    SKILLS: As has been pointed out, previous experience counts and can make the whole buying process that much smoother (and possibly cheaper depending on negotiation techniques!) for all involved. Using an appropriately licensed BA who's been through the appropriate state compliance hoops to operate independently as a BA is also important.

    RESOURCES: Looking for the right investment involves travel (interstate trips can add up quickly), tolls, phonecalls, faxes, subscriptions or reports from RP, HPG or Residex as the bare minimum. Don't underestimate the cost of these or forget about them when adding up the true research costs.

    STRESS: It is so much less stressful having someone else do all the running around for you whilst you leave appropriate times aside to inspect the "cream of the crop" that your BA has selected. It's so much easier knowing you have a trusted advocate who is working exclusively in your best interests.

    And I agree with Sim, in that if you already possess the time and skills and believe you can find what you're looking for then there's no need to use a BA at all. Same for selling your property or doing your own conveyancing, or car repairs, or taxation return, or a whole host of other jobs......