Hi, Just wondering if anyone has had any experience using a buyers agent to sell their property. We have a number of units that we have just finished renovating that we are selling with a 8-9% return. We are thinking that we might try to use a buyers agent to sell the properties that are offering the best returns. We would appreciate any advise in this area or if anyone can give us the contact details for a good buyers agent that would be great. Also, if anyone knows of a better way of advertising high return properties rather than just having them on realestate.com. Maybe other websites or newspapers?
Many Thanks. Matttypically buyers agents will only work with buyers as they want to appear independent of selling a product.
If selling several units, negotiate a bulk rate & better marketing costs.
Yep buyers agent, as the name suggest “should” work for the buyer…
I mean like any industry of work you do get some “bad eggs” and any buyers agent that “sells” property i would personally avoid as a buyer…so not sure what sort of reputation these guys are getting that your trying to off load your property to.
Also be aware buyer’s agent client tend to be “number” driven and all about the price…so good luck.
Regards
MichaelMick C | Shape Home Loans
http://www.shapehomeloans.com.au/
Email Me | Phone MeSame Banks. Better Rates. Served With a Passion.
If a sales agent can't sell units with genuine yields of 8-9% you really need to ask what's going on exactly.
Shape wrote:Yep buyers agent, as the name suggest "should" work for the buyer… I mean like any industry of work you do get some "bad eggs" and any buyers agent that "sells" property i would personally avoid as a buyer…so not sure what sort of reputation these guys are getting that your trying to off load your property to. Also be aware buyer's agent client tend to be "number" driven and all about the price…so good luck. Regards MichaelSpot on Michael. More than just avoiding them like the plague it's also illegal to represent one side of the transaction and take money from the other in QLD
That's an interesting concept.
Obviously, buyer's agents are looking to get property below market value for their clients.
But since you won't be paying any commissions to the buyer's agent, you can probably afford to come down below market value.
However, if you won't the absolute best price for your properties, a sellers agent works to get that.
Thanks for you comments. We understand that buyers agents work for buyers not sllers. We are looking at offering our properties to buyers agents to see if they have any clients that our properties may suit. We are in the process now of contacting buyers agents and offering them our properties. We appreciate all feedback.
Hi Matt,
Good luck with the sale of your Units.
One thing i would like to recommend is to list the home to an agent in the area.
Why:
1) Like Scot No mates said " Since your selling more then one property" You should be able to get a better deal with Marketing and Commission.
2) Get an agency who is either based or knows the area very well.
3) I would also get the real estate agent to do a rental valuation. So if there are any potential buyers they would know what rent they could get for the units.Also when speaking to an agent ask this question: Are you gong to put all of my units on the market straight away or will you only list maybe 2 at a time.
PS do any of the units have different features and how many do you have?
cheers
Jpcashflow | JP Financial Group
http://www.jpfinancialgroup.com.au
Email Me | Phone MeYour first port of call in finance :)
One thing i’d add, why not approach the buyers agents in bulk initially? You can provide them with the low down on the units separately or as a package. Include details such as expiry profile, current rent Etc…….
Agents do not talk about agent referrals to their clients because it's not an attractive side of the business. It is the side where the highest bidder might be an inexperienced agent. I know this because I have had agents call me about an agent referral. They gush and coo over my qualifications, and then beg me to take their short sale client. When I tell them I do not pay referrals for short sale clients, all of a sudden they do not want to refer the client to me. Therefore, what they are really saying is they do not want the best agent for their client. They want the agent who will pay them the most, and that is a sorry state of affairs.
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