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Navra Buying Agents?

Discussion in 'Real Estate' started by OLI, 11th Apr, 2006.

  1. OLI

    OLI Well-Known Member

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    Hi, a friend of mine went for his free Navra consultation after attending Steve's Sydney course recently and was advised by the consultant to buy property in Brisbane. He was given the details for a Brisbane real estate agent to contact. Not being a member of this forum yet he asked me to post some questions for him:

    "Are you a member of the Invested forum? If so can you put a question on there about Navra buyers agent, how they work etc. I spoke with that guy in Brisbane again today, to try and find out more about what he does etc He said he finds houses that fit Steve's criteria. I asked did I need to pay him a finders fee etc. He said no they just split the commission with the selling agent. He said he has a few houses......if i want to see them I have to fly up there".

    If any one has any info I can pass on that would be great. Thanks.
     
  2. TakeStock

    TakeStock Well-Known Member

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    Navra don't employ independent buyers agents from what I understand. In fact, if you were to independently employ a buyers agent to act on your behalf to source a property, you would need to pay the BA a fee. If you don't, then you're really only dealing with a REA who is splitting commissions with another agent on a limited amount of property listings.

    From what I understand, Navra have a Brisbane based agent (Roger) who shows clients new properties which fit Steve's rental reality criteria in specific areas of Brisbane. He (or Navra) do receive a commission, which again is all disclosed upfront. There have been previous threads on this if you do a search in the Real Estate section of this site.

    A truly independent buyers agent will search all properties in the areas you want and won't be restricted to certain developments that they have associations with. They will check all new and established properties and will negotiate on your behalf to get the best price possible.

    Cheers,
     
    Last edited by a moderator: 10th Jun, 2006
  3. TryHard

    TryHard Well-Known Member

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    Don't mean to be rude, OLI, but maybe you could suggest to your friend they might invest in their financial education and maybe buy themselves an InvestEd subscription and ask the question themselves ? If they're that early in the process there's probably a lot more they could learn on here to help them plan for their future investments. :)
     
  4. Jacque

    Jacque Team InvestEd

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    Might be best if those Navra clients who've purchased property this way could respond here. Any takers?
     
  5. TryHard

    TryHard Well-Known Member

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    You mean respond for the benefit of someone who is too cheap to spend $200 on learning jacque ? I reckon that would suck ...

    Let OLI's friend go to Somersoft and be coralled by the "forum bullies" when they mention the evil "N" word.

    No offence meant :) Honest
     
  6. Jacque

    Jacque Team InvestEd

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    No offence taken, Carl :)

    Just trying to be helpful, in the spirit of this forum ;)
     
  7. TryHard

    TryHard Well-Known Member

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    Sorry Jacque - I just read a few anti-Navra threads on Somersoft and am probably in the wrong frame of mind :) Not that I deny anyone the right to be anti-anything, its just the lack of proof of some of the 'advice' that gets me irked. Apologies for the 'non-helpful' sounding rant :)
     
  8. talbashan

    talbashan Well-Known Member

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    hi all,
    i am in the process of purchasing a property through navra. the properties that they recommend fit the navra criteria but may be viewed by some as restricted in scope.
    at this stage i prefer not to discuss the commisions earned by navra but i'm sure that they would not have a problem discussing this with anyone as they have been above board with me up until now.
    i myself always view commisions with suspicion as you are never assured that your interests are being served. for that reason i have done a lot of due diligence on this particular property and have had a long and hard think about the people that i am dealing with (ie navra). this included the reading of old threads from somersoft.com and talking to people with varied points of view about navra's services. there is an element of trust here that cannot be ignored but can be minimised with the above mentioned DD.
    after all that.. i am proceeding with the purchase. so my concerns have been answered so far.
    i hope this answers your question.
    tal
     
  9. OLI

    OLI Well-Known Member

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    TryHard, I decided to post this question because I was interested to know a bit more about it myself as well. I was surprised to hear a Navra consultant was sending clients to their 'own' Real Estate agent and was a bit suspiscious. My friend has only just started reading this forum and was considering a subscription but tells me he will now take your advice and "stick to Somersoft as people are more friendly and helpful".

    Thanks Takestock and talbashan, your replies are appreciated. I will try a search of the Real Estate section.

    Regards, OLI.
     
  10. TryHard

    TryHard Well-Known Member

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    :) Good on him too - Somersoft is a fantastic free resource. Again, apologies if you or your friend were offended at my suggestion people should help fund InvestEd if they are going to use it as a resource - as I said at the outset "Don't mean to be rude ..." and I didn't ... :rolleyes:

    I would like to clarify I specifically did NOT suggest your mate go to Somersoft to ask anything that mentions "Navra" - You need to discuss Peter Spann or Michael Yardney on Somersoft if you want a polite and shiny-happy discussion there. For some reason the forum community there is incapable of discussing the Steve Navra name without turning rabid. Just do a search and you'll see what I mean. My comment was tongue-in-cheek.

    Have fun :D
    Carl
     
  11. Glebe

    Glebe Well-Known Member

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    Must say, without knowing the in's and out's of Roger and what properties are in his universe, I'd probably feel more comfortable employing a truly independent buyers agent. But that's just me.
     
  12. TryHard

    TryHard Well-Known Member

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    To try to contribute something useful since my flu-medication-induced poor demeanour of the last few days, I think on this thread :

    http://www.invested.com.au/forums/showthread.php?t=393

    Michael details his journey in buying through the Navra Brisbane office in some detail.

    Cheers
    Carl
     
  13. MichaelWhyte

    MichaelWhyte Well-Known Member

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    Thanks Carl,

    As I pointed out in that thread, my decision not to pursue the property identified in Brisbane was primarily as a result of my own due diligence suggesting I could do better.

    Roger is a great guy, but as Glebe points out, the "universe" of properties he puts forward is somewhat limited.

    I'm now looking for an old house on a big block with development potential. I want to "build in" some equity so I can accelerate my plans. I know that strategy is not for everyone though. For some the low maintenance, brand new house with good depreciation deductions is a nice set and forget solution.

    Cheers,
    Michael.
     
  14. Tom&Don

    Tom&Don Active Member

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    If the properties he suggests are capable of performing, then I would suggest his 'limited universe' shouldnt be an issue.

    Maybe having a niche, or being an absolute expert in particular areas and dwelling types could be seen as a big bonus??

    T.

    Happy Easter.
     
  15. TryHard

    TryHard Well-Known Member

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    I'm with you Michael. We built new on an acreage block next door to ours, purely to protect our privacy - strange motivation, but luckily bought at the right time so it was a great low hassle investment. Everything is easy with the new building, but I'm just kind of averse to big estates.

    Since the market changed I'm finding it hard to reconcile you can buy something quite nice at Red Hill 2km from CBD for say $400K, while its $360K for a DHA home on a similarly small block at Brassall (Ipswich) - 35 km from CBD. To me the stuff within 10 km of the CBD is looking good value again, though not much will pass Rental Reality unless it follows a development like you have in mind :)
     
  16. Bob

    Bob Well-Known Member

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    Navra Commissions

    I don't understand why some forumites on the somersoft have turned rabid. Anyway, I put in my 3.25percents worth. IMHO, the bottom line being don't invest in Navra funds if you don't feel comfortable with that form of investment. I also have an Navra recommended property settling on the 24th April here in Sydney, and like Talbashin I prefer not to disclose the commissions earned by the Navra Group. However, I believe it is as good a time to purchase property now, subsidised by the distributions all ready for the next upswing. I do not mind paying for quality service.

    Bob
     
  17. Rolf Latham

    Rolf Latham Well-Known Member

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    Hiya

    Kick back

    I feel we would want to be more careful with our lingo.

    In-appropriate use of words can cause unintended results.......and sometimes hurt

    Kickback...............=
    Slang. A return of a percentage of a sum of money already received, typically as a result of pressure, coercion, or a secret agreement.

    I think neither the comm earned by Roger et al is either as a result of coersion, pressure, and nor is it a secret comm as it is disclosed.

    There endeth the English lesson for this post :)

    ta
    rolf
     
  18. OLI

    OLI Well-Known Member

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    No problem Carl, and thanks for the link to Michael's thread.

    Michael, have you settled on Brisbane for your house on a big block with development potential or are you looking elsewhere?
     
  19. MichaelWhyte

    MichaelWhyte Well-Known Member

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    Oli,

    With the intent of becoming a "local expert" I am currently looking around my local suburb in Sydney for the next IP. There is a lot of dual occupancy zoned blocks here of sufficient size. I just missed out on one recently but am persisting.

    Hopefully it won't be too long now.

    Cheers,
    Michael.
     
  20. Jacque

    Jacque Team InvestEd

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    So how are you going with this, Michael? Dying to hear the outcome!!!