I recently met with Capital 360 as I wanted to buy an IP and work out the best structure for my current IP and home. To be honest, the 2.5% commission/fee threw me but I've been talking to myself about how valuable the information they have will be.
I'd like to hear from those who have used their service. What did it include? Are they biased? Can that fee be negotiated down? Any information you can provide would be most helpful to me.
Are there others I should consider instead such as PPA or Alliance or others over them?
Thanks!
Buyers agents are a tricky one. They can be a great service if you dont mind spending the money. From your post you sound like many of us who like to save money where we can.
I sugest reading books doing a few online courses and become an expert at it yourself. All the information they use, you can use such as sale price data, historical growth etc.
Choosing the right proeprty is not rocket science as many in the property industry will lead you to believe.
Hi James,
Thank you for your feedback. Funnily enough, I was looking up online courses today. I might start on some books too. I really want to buy an IP asap and benefit from the growth spurt we seem to be on hence why I was talking to Captial 360.
There's so many things I know need to be done with our current situation, trusts, self managed mutual funds etc…but I don't have the knowledge to do it and learning it all (if that's possible) could take a long time…
We'll see how I go.
Thanks again,
TinaPersonally, I prefer a flat fixed fee. If you pay a BA a % commission on the purchase price, what incentive is there for them to negotiate the cheapest possible price?
A buyers agent is a good idea if you don't have the time or the knowledge to make a good IP purchase.
If you want more than a couple of IP's, may I suggest you spend the money on your financial education rather than paying someone else with more skill than you.I personally would recommend Steve's RESULTS programme if you really want to be a property investor, rather than just owning a few IP's.
quickchick
As a Buyer's Agent I back myself to create a win for my client as well as myself. My clients can choose between a flat fee or paying me 20% of what I save them off verified list price. So if I can negotiate $50k discount, my client saves $40k and my fee is $10k. If I can't save my client the equivalent of my fee there is no charge. We are all experts in some areas, but hard to be expert in all areas
Graeme Freer | Freer Property and Finance
http://www.freerpropertyandfinance.com
Email Me | Phone MeBuyers Agent
freerenterprise wrote:As a Buyer's Agent I back myself to create a win for my client as well as myself. My clients can choose between a flat fee or paying me 20% of what I save them off verified list price. So if I can negotiate $50k discount, my client saves $40k and my fee is $10k. If I can't save my client the equivalent of my fee there is no charge. We are all experts in some areas, but hard to be expert in all areasHow do you determine the "discount"? I've seen properties marketed incorrectly (out of area real estate etc) and while on the surface it may seem like there isn't much of a discount, in fact it may be $20K under market value.
Hi Catalyst
Good question. Personally I use comparable sales data. Pricefinder and RP Data are useful here as you can match attributes with properties recently sold in the same location. It is the properties that are priced incorrectly that other subscription software programs can pick up quickly….and I can swoop.
CheersGraeme Freer | Freer Property and Finance
http://www.freerpropertyandfinance.com
Email Me | Phone MeBuyers Agent
I have not used Capital 360 but I know an investor who did, and couldn't speak highly enough of their services.
I have personally been researching a number of buyers agents and I cannot seem to find anyone other than Capital 360 that offer a true independent service that covers every step – e.g, strategy, structuring, buyers agency, reno, property management. I am not sure where I should buy my next investment property (already own one in Sydney) but I know they have buyers agents in every capital city so I will probably go and speak with them. Not sure about the discount comment earlier, but I'm a firm believer in you get what you pay for…it could be a very false economy saving 0.5-1.0% on the service and then paying 5% more for the property!
If anyone else has any suggestions please let me know, otherwise I'll report back on how I go with Capital 360.
Thanks all
EdEd,
I have used BA's before and I have a small number who I refer clients to in Melbourne, ones that tend to specialise in the investor market. Each have their own knowledge and strengths and areas of speciality. I match the clients needs to the BA's but also suggest that they talk to two or three others at least to see what the fit is like for them.I am not keen on a one stop shop. The concept is very sound that they all work together and it makes it seamless but it can also lead to a poor overall result and service. You are not using other independent professionals who can put up a hand and say, there is something wrong here.Good luck
Greg
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