Hi guys, I’m pretty new to property investing and would love to hear some of your expert opinions on how to choose a buyer’s agent. My girlfriend and I live in NSW and we want to get a step into property investing. We have around $200k in cash, and looking for a property around $400k-$500k. We’ve narrowed our search down to either Brisbane or the Gold Coast. We both don’t really know the area but have come across a buyer’s agent situated in the Gold Coast. My first question is what do buyer’s agents usually charge? And what do they do for you? We also want to find someone similar situated in Brisbane, where would be a good place to start looking for an agent? And do these agents provide us with a list of properties that would suit our buying capacity so we can do a bit of research before having to commit to one?
I know some of these questions may seem a bit silly to the seasoned investors on this site, your help would be much appreciated :)
Regards
There are a number of agents who frequent this forum who look after Brisbane so they should reply to you. I went with someone from here, I met them in person to see if they had the same expectations as me. Then I went back and read their posts and comments / reviews from people who had used them to see if anything worried me.
Hi Roy
Welcome to the forum and hope you enjoy your time with us.
Certainly from initial information you are in a good position to start building your portfolio.
Be careful when you start out in the current lending environment that you utilise your deposit wisely as accessing equity in the future is getting harder and harder especially on a high loan to value.
Whilst many investors believe mortgage insurance is an evil expense it is an opportunity cost and can enable you with strong serviceability to make your dollar go further.
In regards to Qld we are finding a number of good pockets to invest for our clients where prices are still reasonably affordable and rental returns adequate. I have lived in Brisbane for the last 15 years and have most of my property portfolio in and around the City.
As far as what a Buyers Agent can charge this varies considerably. For some they need to charge upto 2.5% of the purchase price as every dollar is important for others of us we do it because we enjoy assisting clients and seeing them grow their wealth.
Property is our passion and we enjoy rental income streams to fund our daily living.
Feel free to email us any questions or give us a call and either Jacqui or myself will be happy to chat.
Cheers
Yours in Finance
0-40 properties in a decade. Email me for a copy of my API interview.Richard Taylor | Australia's leading private lender
Thank you very much for your help. Much appreciated :)
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