I am enquiring on how finder fees work. i understand the basics, you find property and pass on a good deal to someone else who inturns pays you a fee. But how does it actually work. what can you use as a guarentee that they will pay you if they buy the property. whats stopping them from passing the information on to a friend and u getting nothing. Is there a going price or percentage of cost of property to work out the fee. Can you find find the property through a realestate and tell them who to see and still claim a fee or is it upto u to find it. If any one has done this before it will be good to hear from u and how you went about doing this.thanks
There are a number of people that do this on the forum so I’m sure you wont have too much trouble getting the information you want.
However, I believe in this current climate it’s finding decent enough deals that ordinary investors will buy that will be the challenge, not the logistics of setting an operation like this up.
You could always specialise in a certain type of investment, but the deals are there if you know what you’re looking for…
Hope this helps…G7
It also depends on what you are trying to achieve. It is based on resaerch. Keeping track of what the markets are doing is a full time job. I mainly look at the Melbourne Queensland and New Zealand markets. Sydney is currently two expensive and the vendor tax is a real negative. You then need to select and number of prime areas and get to know them like the back of your hand. The internetis great for research. However I would never buy a property without inspecting it. I know many do not but whether i am spending my own money or a clients I liketo feel sure of what I am doing. A airfare is cheap compared to a property purcahse.
Nigel Kibel
http://www.propertyknowhow.com.au
Australian and New Zealand Buyers advocate
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