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hi, thanks for your info, this is very helpful. Unfortunately I have turn down the offer because here most agent only charge 2-2.5%, so 400k only get about A$8k commission. And if you are selling, you get 15% of that, about $1200. But listing get more commission, around 30% as it's hard to get a listing. I was told I have to knock all door in this suburb to get listing, this really set me off…
Lockymac wrote:Hi Calvinci, I recently left a real estate position in Western Australia so my numbers may not be applicable to you. But I was in for two years and started on a five hundred dollar a week retainer that was paid back through my commissions. My split went like this eg Property 400k Commission 3.5% 14,000 GST 10%= 12727.72727 Of that if i listed and sold the house myself i would get fifty percent (6363.636) I i only did one side just listed or just sold i would get 25% (3181) And if it was a conjunction with another agents property i would go half with my agency. Over here good reps do about four a month, and i know several companies that have different commission structures each with there own pitfalls. If you sell one property (both sides) a month you could expect around 45k a year, which is pretty easy once you get the hang of it. In my opinion i wouldn't worry about the commission at the start and focus on hooking up with a good agency with a good licensee that can teach you. I went to a smaller botique firm who had a good licensee but no training. Looking back i would have joined a larger company with better training and a little more competition in the office. I am single with no kids so i really didnt have to worry about money too much, but you will probably be different. Hope it helpssorry I didn't make this clear enough, I do have a job now, about A$70k a year, that's why I turn down REA offer as I think I have to work a lot harder with a lot more time to get the same amount..
point taken, thanks for all the info..
hi, I don't quite understand, why do I have to take out additional credit on my current PPOR? can I just use this 30k to purchase another IP and have another loan on this IP? I can't put this 30k in another account to offset mortgages as my mortgage plan wasn't allow..
sorry typo… not a week, it's 4-5 a month.
hmm… in fact I have had a chat with few agent from different company, looks like most of them is selling 4-5 property a week.. probably making about A$50k a year then.. Is that the amount average agent is making?
That's very helpful, thanks Scott..
hi Scott, thanks for your info. I am not a licensed agent, I only have agent rept cert. And the agency told me I only get 15% for selling property, did not mentioned about listing thou. Which means if I can't get any listing, I will have to sell at least 5-6 property with average $400k per month. is that something hard to achieve? ei
it's not exactly white, it's cream color, i was told it's flat ceiling paint, probably will try another shop rather than bunning then.
Tools wrote:If the ceiling is white then you will struggle as there are many types of ceiling white. If it is a colour then you shoul dbe able to have it colour matched. Did they give you the right sheen when they "matched" it for you?Tools
hi, I am new to painting.. I just bought whatever I can get from bunning and paint it straight away, didn't know about undercoat until it's done. The render wall looks like uneven, some area is rougher and some is smooth, and it's not perfectly flat, is that renderer's fault or my fault of not using undercoat?
Scott No Mates wrote:Being new cement render it should have been sealed with an undercoat first. (Read the can before painting). It may not peel next week however there is a greater likelihood that it will not last the distance. Did you do any prep work at all (like getting a broom to remove all of the loose sand from the wall?).Why would you be using an enamel paint over cement render (except possibly in a bathroom)?
thanks for the recommendation. My builder had another inspection yesterday and concluded the bracing is good enough, so things are on track now…
Now i have an idea of how bracing works, and it sounds good… thanks for all the help. This house worth about A$450k, not sure if the vendor going to court me if I pull out
hi, thanks for the constructive opinion. When she agreed to replace it, I paid deposit and she insist about 90 days settlement, I guess she bought another property and planing to do reno before move in too. I agreed and now it's like another one and half month before settlement. If she replace the beam as agreed, then it's pretty straight forward.
Now she didn't, and today I ask for another inspection to check if bracing is adequate, she disagreed and reckon I can only inspect during final inspection a week before settlement.. This really upset me as I try to compromised and accept bracing if it's not too bad, and she give me this… i will get my conveyancer to work this out tomorrow.
gibbo1 wrote:If the vendor stated that they will replace it and they haven't, then they haven't full filled their side of the contract. That is a pretty simple part. If you wanted to walk away from the deal you could possible get your deposit back due to non perfomance of that conidtion. (Get legal advice first)
Simple part out of the way…now the hard part. As newbie was mentioning, don't look at this one small problem, but look at the big picture. Decide if this is the place you want. If you signed the original contract its a good sign that it is the place you want. Is it possible that you got a little nervous after signing the contract and now reconsidering the whole thing. As you said you feel that you have paid above market price for the property, how much is this influencing your current thoughts.
It this is the place that you do want then it may be easier to just wear it. What is it costing you in stress and time in delaying settlement over this issue. $2k compared to the CG you would expect over coming years. Are you planning on doing other renovations, planning on knocking it down and subdividing, is the rest of the place going to last long enough to justify the beam been changed.
Its now over a month since your first post. You need to decide what you want. The vendor may feel annoyed at it been drawn out and may not be interested in negoiating much more.
I am here asking for help and opinion, it doesn't matter if you believe or not.. As said, vendor agreed to replace it, so I paid deposit, but turn out she didn't keep her word. Since it's done, if it's acceptable, I will live with it, otherwise I will still proceed with the sales and replace it myself, but will get my solicitor to claim back the expenses.
marsden wrote:I do not believe what you are saying. You knew there was a problem and you paid a deposit! Have i missed something here; or do you stand to loose your deposit if you don't proceed. Were you aware of this defect and you still paid a deposit? A 30 year old house is not 'old'! Replacing a 'beam' for $2000 is not such a big expense and the house may represent good value after the repair work. The fact that the 'former owners' braced the beam clearly points out that you may be better off doing the repair work yourself. At least you will do the job correctly.it's a deal, I paid 10% deposit when vendor agreed to replace that beam. Only yesterday I was told it's been braced instead of replacing it. I am not sure about bracing, so I hope someone experience, or builder himself can advise me if bracing has been done commonly..
And I don't think bearer beam it's little thing, especially cost $2000 to replace..
hi Guys, Just been inform the vendor didn't replaced it as she promised, instead her builder just braced it. Anyone experience bracing a beam, is it any good?
thanks Harb, but they don't have one for floating floor board and looks like gonna cost $3000-4000 for 100m2 area
great opinions, I love this forum.. any idea where to get floor heating stuff in wantirna area, melbourne?
hi Tony, thanks for yr advise. The vendor finally agreed to fix it for us.. 2k is not much if it's a bargain, however I feel like my purchase prices is higher than market prices… So not happy to pay for extra cost…
sounds good.. but we are not sure how important is this beam, to be safe, I prefer to get it change..
I got my finance approved and the agent knows about it. The clause said, subject to B&P inspection, and only can end the contract if it's major structural defact. So the question here is if this is major or minor defact. This can be fixed by changing the beam, cost about $2000… there are other defact like flashing incomplete, brick missing, windows /door in poor condition, cracked wall etc but that's expected because it's 30 yrs old. So I only claiming this $2000..
Another thing, contract sign 7pm 11th Aug, and inspection only allow 5 days, I notified agent 9am 18th and email inspection report 6pm 18th, is this too late?
