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Discussion in 'Real Estate' started by Triu, 28th Nov, 2006.

  1. Triu

    Triu Well-Known Member

    1st Sep, 2006
  2. Simon Hampel

    Simon Hampel Co-founder Staff Member

    9th Jun, 2005
    Sydney, Australia
    This is a fairly new business by Paul Eslick (Reno Kings) and his son, Justin. They are a buyers agent for SE Queensland. Nice synergy with the Reno Kings.

    Interesting fee structure too:

    This last bit about what you pay after purchase has me a bit concerned. They seem to be charging full real estate agent rates ... and the way things are worded, it even seems to me that they are acting a bit like a selling agent as well as a buyers agent. That's not particularly independent. I could be wrong about this - but it's worth asking the question and looking into exactly how they source their properties and what their involvement is in the selling process.

    This doesn't really seem to be a traditional buyers agent model anyway - it seems to be more of a catalog service - I guess they source lots of properties and let their members know ... and someone gets to choose from a list. I don't know. Would be interested to find out more details - please let us know what you find.
  3. TryHard

    TryHard Well-Known Member

    17th Aug, 2005
    I'd like to know how the company finds the "properties we source for you" because its not clear on the website.

    Looks like you pay for everything along the way including $488 membership and "DIY Assessment Reports" for properties which are $399 and appear to contain information which would mostly be readily available through the local council and state govt online searches ?

    Personally I think a buyer's agent should be engaged based on referrals from satisfied clients. Interested to know how customers are finding their services ?

  4. Jacque

    Jacque Team InvestEd

    16th Jun, 2005
    I'm with Carl on this one- the service appears to be an offering to time poor investors who would be happy to select from stock that this company consider worthwhile purchases.
    The commission structure does concern me, however, as it's not really conducive to the BA working hard on your behalf to secure the lowest price. After all, the higher the purchase price, the higher the fee. Fine from a selling point of view, but hardly applicable for a third party who should be working for you to secure the lowest price possible when purchasing. It's not my preferred model for BA fees.