Buyers Agents – worth the money?

I think if you are time poor it can be a good investment.
Researching an area can take months, and that's before you even look at a place. Buyers agents have expertise in certain areas.
 BUT be careful. I'd go with a small individual person rather than a big company. Also go for one with a fixed price. What's the incentive for them to get the property cheaper?

You need to decide what type of property you want eg high growth area, CF+, reno required, under market (a must for me). I'd want  the property to be under market. This in itself pays for the BA.

Look at   http://www.somersoft.com/forums/  There are a few well recommended BA's on there.

I have personally used a Buyers agent for two IPs.

For the first, we had a budget of $500k and we asked them to source us a good investment. They advised us that the at the time the best bang for the buck came out of a $370k property – that was five years ago and it was great advice (we paid on a % of purchase price, so there are honest ones out there – after all, they rely on referral business for their next client).

The second IP they helped purchase was a holiday unit in a coastal town. We had selected the property and needed their expertise in closing the deal so we would not get guzumped. They saved us $35k on the purchase price and the service cost us $5k – this was a fixed price agreement. Again, a great service.

If you are time poor and feeling stressed over the whole IP thing, then a buyers agent is a great idea. But make sure you “feel” comfortable with the person you are dealing with. Trust your gut instinct, but do not be afraid of the concept itself.

The guys I used were Buyers Agents for Real Estate – Brendan & Anne Jack, +61 418 882 222. I highly recommend them.

Based in Newport , however sourcing well researched investments all over Australia. Countercyclical strategy preferred eg recommended Perth in 2004/05. Melbourne and Darwin 2005/06. Canberra and Adelaide in 2007/08. Last year I started working as a Buyers Agent and looked for property wherever clients told me to. Best opps currently Auckland, Sydney and Brisbane. My family are from Wagga and always happy to consider regional investments for yield (not so good on capital growth over long term). Call me on 02 99732367 or SMS me 0414816408.

I haven't used one before but can definately see the benefits in their services. Propertunity, who's on this forum, is an extremely knowledgeable BA.

Hey Martin great to hear your looking at investing outside your postcode like 90% of Australians dont do. In regards to purchasing outside your area i.e even in another state Maragaret Lomas is a major player in the property market with 30+ properties she has a company called destiny financial solutions and has a few books, one of which is a book called 21 must ask questions for every property invester it is a great read and deals with issues such as yours. I highly recommend her book and if you where to spend the $25 on the book first before you dish out your money. (a) you will ome money (b) wouldnt it be much more of an achieveiment doing verything yourself and (c) i will guaranteee you will learn a lot from her lessons. Shes not one of the same old property investing gurus with the same wish washy real estate rubbish. Good luck with it