Hi forum members.I'm asking for any insights into using Metropole as a buyers agent? I am considering using them to find and purchase my next investment property as was wondering if anyone has any experience using this company or the like???Thanks
Hi richief,
I have not personally used them, however have heard Michael Yardney speak on many occasions, read his book, spoken to him and various of his staff at expos and receive his e-newsletter. If you are looking for a buyer's advocate, I think you would be hard pressed to find better for the Melb market. I also believe they cover Brisbane and/or S/E Qld also.
Michael Yardney knows his stuff and walks his talk. If you don't subscribe to the newsletter you should and also navigate his site……plenty of info and resources there also.
Hi Michael
Thanks for you comments. I also have heard Michael speak and have read his books (not yet to speak directly to him though), and was impressed with what I see.
I beleive he knows the Melbourne market there and has his main office there as well as in SE Qld, but I'm looking to purchase in Sydney, I know he also has offices here. I'm not sure if he uses his own staff here or if he has other agents he sort of contracts out to?
Any comments on his Sydney operation would be greatly appreciated.
Regards
Richard
Hey Richard,
not sure about that arm of his operation, whether he contracts out or it's his show. Ring Metropole and find out.
Also Patrick Bright is big on the Sydney front.
Try:
I understand that the Metropole person in sydney works directly with or for Michael yardney. I do not believe it is just a contract agent. While I have also benfited from MY's books, newsletter and seminars but in my mind, it does not necessarily mean that his company's buyer agent service would be the most suitable for one's buying needs at a particular time. What I mean is it depends where you intend to buy in sydney, what kind of property and what your strategy is. Metropole specializes in historically high growth properties in a defined area from the cbd. So if you were looking to buy more of a cash-flow oriented property in the outer western suburbs of sydney, I doubt if Metropole buying service would suit your needs in that case. But on the other hand, if you were looking to buy an IP within their area f speciality, they would be quite sutiable. My point is while Metropole's educational services is of excellent value does not necessarily mean that their buyers agent service is best suited for me at a given point. It's two different services completely.
Good luck.
JNM
<font color=”#000000″>Thanks everyone for the kind words.If you allow me, I will clarify the position.Metropole is a national organization with offices in Melbourne, Sydney and Brisbane. </font><font color=”#000000″>No we don't use contractors in various states – you are dealing with the one firm of Property Investment Strategists nationally.While I founded the company and am still actively involved, Metropole is much, much more than Michel Yardney. I have business partners, shareholders and directors involved in running each of the State offices to ensure that clients get the best attention.The director of our Sydney office is Pino Tedesco who has been a valuer – so he understands Sydney property values well. He is supported by 2 experienced agentsCurrently I visit Sydney regularly and work closely with the Sydney team. And yes we only have a particular type of property we purchase for our clients.</font> <p style=”margin: 0cm 0cm 10pt” class=”MsoNormal”><font color=”#000000″>We specialize in high growth properties with a “twist” – with something special about them – something others may not see or appreciate such as upside or renovation potential so you can “manufacture” capital growth.</font>
Thanks for the information Michael. I will be giving your Sydney office a call soon to arrange a meeting.
Regards
Richard Farmilo
I think there are major benefits and also some challenges that come with dealing with Buyer's Agents like that. But if you want a large pool of possible sites, its a great place to look. good luck.
quote=richief]Hi forum members.
I'm asking for any insights into using Metropole as a buyers agent? I am considering using them to find and purchase my next investment property as was wondering if anyone has any experience using this company or the like???
Thanks
[/quote]
JNM wrote:While I have also benfited from MY's books, newsletter and seminars but in my mind, it does not necessarily mean that his company's buyer agent service would be the most suitable for one's buying needs at a particular time. What I mean is it depends where you intend to buy in sydney, what kind of property and what your strategy is. Metropole specializes in historically high growth properties in a defined area from the cbd. So if you were looking to buy more of a <font color=”#990033″><font color=”#ff3366″>cash-flow oriented property</font> </font>in the outer western suburbs of sydney, I doubt if Metropole buying service would suit your needs in that case.The main reason I haven't used his organisation is because <font size=”4″>I require cash flow positive properties</font>. Michael's strategy of targetting high growth properties is great if you have the cash flow to support them.i've read many of his articles and have purchased all his books. Great information but doesn't suit me
How about the fact that that Yardney has buyers agents in specific areas of Sydney?????? You are either restricted to certain suburbs or the agents will be buying a property from an area they no very little knowledge about…. Choose your location first, do a little research as you have done here, then a simple pros and cons table with guidance from people at this site, friends, family and other property investors…… This is all free, after all, you are in this game to make money not to hand over a large slice of your pie on day one. Learn how to spot a deal first hand, then when you have this get yourself a buyers agent to do the running around…. But always work the numbers and the critical thinking yourself…. Buyers agents should be nothing but scouts (used only when you have mastered this property game first hand )…. Not your brains…
Very good 8
Make sure that the "buyers agent" is in fact a licensed real estate agent as well and not working as a scout under an agents license …
Make sure that the buyers agent can PROVE that they personally own multiple properties and are well versed with at least 5 years experience in real estate.
Make sure the buyers agent is not a mortgage broker working as a buyers agent selling "specific" stock for a marketing group.
Ring up the local DTF and give the details of the license to get a history check on that person …
Remember a buyers agent does not mean they are "IPA investment property accredited" or LREA … it simply means they 90% are working under someones elses license selling that persons listings and they are not permitted to give advise unless they have further qualifications.
Caveat empthor …
Twould be helpful if someone could provide some feedback of any kind based upon direct experience with the organisation in question.
cheers
thecrestthecrest | Tony Neale - Statewide Motel Brokers
http://www.statewidemotelbrokers.com.au
Email Me | Phone Meselling motels in NSW
Hi,
I purchased my first IP through Metropole office in Brisbane in October 2009. I could not be more complimentary about the service provided. I was guided and kept fully informed at all times. Few houses were targeted and let go (too expensive) on the advise of the agent. Finally, I got the house on 728m2, 8km from CBD for $453,000. The Metropole Property Manager organised cleaning and painting ( in 2 days! ), finded good tenant in 2 weeks and since than no problems so far. Living in Perth and "taking a plunge" into the unknown market was a risk and source of some stress. However, Metropole"s very professional, totally customer focused service, made the process very smooth and hustle free. Buying in over priced Perth and spending endless weekends driving around doing reseach was not an option. I was happy to pay the agents fee and enjoy my weekends.
If the service in Sydney and Melbourne is as good as I experienced in Brisbane, I can recommend the Metropole as the organisation worth giving a go.
Please be aware that if you are looking for a cash positive properties, or further than 10km radius from CBD, than Metropole is not for you.Regards Greg
Thank you rocho for your great response and positive feed back,
So you bought a second hand property ?? and all they got was the 2% buyers agency fee ?? and they arranged it to be painted and cleaned and then got the tenant ?? (how bad a condition was it when you saw it??)
Sounds like a lot of work for 2% commission … did they find it on realestate.com.au or was it an onsale or optioned property …land size and distance from CBD is very good … what suburb ??
"On the advise of the agent" did the agent hold an advisers certificate or just a LREA …
Hi Greg
Good to hear you're a satisfied client.
Do you have any other connection with Metropole ?
Was that glowing testimonial unsolicited ?
So you paid $9000 for them to act as a buyers agent and locate a property for you, you bought it, then they scored the management of the property as well and arranged cleaning and painting, and installed a tenant.
How long did it take to find the property ?
How did they find the property ?
Did they already have the property listed for sale ?
Was the property listed with another agent or private ?
Did they negotiate the purchase price and terms for you ?
Are they the property managers now ?
Cheers
thecrestthecrest | Tony Neale - Statewide Motel Brokers
http://www.statewidemotelbrokers.com.au
Email Me | Phone Meselling motels in NSW
Hi,
I didn't realised that my post will generate so many questions. I will do my best to answer them all.
Metropole fees: one of strategy fee $1000 (doesn't apply to future property purchases) and 2.5% buyers commisison.
Property was second hand, in Carina Hights, bildding inspection revealed repairs to the roof and gutters for which Metropole organised the deduction from seller to pay for it. From many pictures and agent's thorough inspection property looked good for the age. Painting was recommended by the agent, quotes provided. Property was listed by another agent. Metropole agent inspected the property one day before its listing on the internet. He recommended the price for the offer and the terms of the offer. The first two attempts on other properties, we were outbid by higher offers. It took 3-4 weeks to find the property, but that can vary. The agent was a senior adviser with more than 10 years experience in Brisbane realestate (not sure about the certificate?), in my humble and inexperience opinion, very knowledgeable.
I don't have any other connection with Metropole and my testimonial is totally unsolicited! I have attended their presentation in Perth and after some deliberations decided to give them a go.
Metropole are the property managers and so far I thing an excellent one.
The Metropole's concept of the total package (were I didn't need to do anything) did appeal to me and I was prepared to pay for it. That obviously my not be suitable for everyone. I am quite sure that if my property is going to perform well and be well managed, I will use the Metropole for the future IP's purchases (on which I am sure they counting on and should have a vested interest to provide me with a good service).
I hope I managed to answer most of the questions.Warm regards,
Greg Rochowczyk
Wooo…. 2.5% buyer agent fee….
negotiate discount 10k.. but pay the agent fee 10k… what the difference!!!!Welll……
Hello Rocho,
Carina is a good area … 728m/2 at $453,000.00 … can I ask what street, the reason is I am asking is purely from a research point of view … why second hand in an established area in another state when you can do the same where you live closer in to the Perth CBD
Is it within 300 meters from bus, train, schools, shopping center, commercial, other
Now where is that Rocho ??
Hello again rocho … I spoke with a colleague in Perth who agrees with me that he believes there is better buying closer into Perth than Carina in Queensland given the same numbers … most people like investing where they live and that is why I was asking the above question …
Why seek out Metropole when you can do better where you live, better growth closer to the CBD and higher yields ?? and save over $10,000.00 in fees
spruikers….. getting fatter and fatter
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