Hi
I am a property investor and I want to set up a website that sources cheap positive cashflow property. I have found some good sources. As I am new to this I was hoping someone could advise me on what sort of commissions are usually charged for this service, or anything else relevant.
I was also wondering if there is much of a market for this service?
Thanks for your time,
MaryI have no advice to offer (sorry) but I’d love to have a look at the website once it’s set up. I think it’s a wonderful idea.
This could be a very much needed service especially if honesty and fairness are qualities you’re planning to offer.
It’s getting harder and harder to find CF+ properties, especially for people with children at home who live in areas far from those where you can find CF+ IPs and who don’t have much time to travel- so I would certainly be interested.
Good luck!Hi Celivia
I’m glad your interested in this service. <<edited>>
Admin here… please don’t ask for e-mails as this borders on soliciting business. Get your site up and running and then refer to it in your signature. This is the only acceptable form of advertising.
Regards,
MaryHi Mary99,
Most Spotters, on this forum, charge some what between $1000 – $2000 for each property, they can find and sell to you. (Buyers agents – some what in the $5000 figure)
cheers,
s.i.sHi Mary,
Love to have a look at your site when its all set up. Good to see initiative.
Thanks,
Sue“Be careful not to step on the flowers when you’re reaching for the stars”
Hi Mary,
is an excellent idea, have a look at
http://www.cheappropertydeals.com.au for an idea on commision and let me know how you go with the site.Cheers
Wayne
Gee Mary so many interested people! This answers the question whether there would be much of a market for this service!
Don’t forget, that if people are happy with your prices and services the 1st time they buy from you, there will most likely to be a 2nd, 3rd time they require your services.
Good luck and hope to hear from you soon
]Hi
I am thinking about looking all day and night at realestate.com.au and realestateview.com.au and raywhite.com.au etc for positive cashflow properties all over Australia.
Then listing them on my web site, then asking for a spotters fee if you buy.
Worth my while you reckon?
Hey Yack,
IMHO,a fair percentage of members here will already be scouring those sites in their own search,so they will find these deals themselves anyway.You really need to tap in to your own source if you want to be hitting people up for a fee.
Tools
I thought you were time poor Yack.
Cheers
rHi yack,
Have to agree with tools I’m afraid.
You’ll have to come up with an original source. Perhaps direct from real estate contacts.
Good luck with it, and keep thinking up ideas,
Sue []“Be careful not to step on the flowers when you’re reaching for the stars”
I tend to think yack might have been a tad joking with his reply. I think the ppoint he was making was that one can’t just look up stuff on the websites we all know and then charge 2k on properties hoping that others haven’t already seen them.
For example, the other day I got the Trading Post just to check out the RE page (it only has one page). I might presume that the whole of propertyinvesting.com does *not* buy the TP (you can access it online anyway, I think). Am I then to charge a spotting fee for a property advertised in the Trading Post?
Perhaps it might bea good idea for folks to discuss if they did use a spotter, what they might expect.
If you are already a spotter, what services do you provide? How do you source your properties?
kay henry
I would expect from a spotter whom I pay, that he/she has personally inspected the property, and knows all of the numbers and details. [
]
I think it’s a good suggestion of Kay to discuss it if you did use a spotter and what your experiences were.May be we need spotters’ spotters (who may also charge a fee to pass on a great spotter[:o)])[
]hehe Cel- too funny! [
]kay henry
Hi,
One of the soon to be released additional features of this site is a system whereby people who know of deals can advertise them within strict guidelines which includes giving an initial outline of the numbers.
This is will be a paid service (something nominal, say $20 per deal) for the person submitting the advertisment. Alternatively people can subscribe (another nominal quartely fee) for a priority access service where they are notified every time a new deal is posted to the site.
I hope to have this released by the end of the month.
Stay tuned for more info…
Bye,
Steve McKnight
**********
Remember that success comes from doing things differently.
**********Steve McKnight | PropertyInvesting.com Pty Ltd | CEO
https://www.propertyinvesting.comSuccess comes from doing things differently
Well done, Steve & co,
I imagine that is going to be a very popular service.
I’ll certainly be staying tuned….
Sue []“Be careful not to step on the flowers when you’re reaching for the stars”
Hey Steve and Guys,
I just checked in, in setting up my own buyers agent as well.
First problem is, legally by law you are not allowed to spot property to some one else and charge a fee. If you do there is a $24,000 on the spot fine.
I aint kidding, i just checked this out, so if you want to set up a buyers agent its best to do this legally and to go through the legal process.
Secondly this law passed through last September.
If you would like more informatin for info of this,
Search for “Real Estate Insititute of NSW”
Cheers,
s.i.sSIS
That is very interesting, maybe people will stop trying to be property spotters on ths forum[}
]Like any business there isn’t any easy way, it’s all the legal way[8]
Cheers
Leigh K[]Carve your own path and lead the way …
I know I’m always the wet blanket, but if you’re going to be running a business which essentially involves collecting a commission from the sale of property (as opposed to merely doing occasional spotting and getting a fee for that), you’re probably going to either need:
- a real estate agent’s licence for the relevant State(s) in which you’re sourcing properties; or
- piggy-back off existing real estate agents in the relevant State(s).
Cheers
Elysium-MElysium,
No need to worry about being a wet blanket. sometimes it’s good to get a reality check on here.
I can imagine there would be all manner of problems with spotters. They tell you what a great house it is- because they want your commission- and then it ends up a lemon? What does one do then? sue the spotter?
I thought spotting was merely an informal thing someone could do for as couple of hundred bucks- check out a place for someone because the buyer was time poor.
Personally, I couldn’t imagine paying a stranger with no background in RE 2k to spot for me. It seems kind of a dependent thing to do. I could however, imgina “spotting” someone on here that I felt was decent, 50 bucks to check a place out for me if it was in their local ‘hood. Like the car towing industry would do when there was a crash- have someone report the accident to the car towing place and be spotted 50 bucks for their services.
kay henry
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