Hi, I haven’t bought an IP yet because I’m still learning. I’ve come across Buyer’s agents on the net and was wondering what people thought of them. Are they worth the cost or are they organisations that appeal to novices such as myself? Im looking at investing in Perth in the next 6 – 12 months and thought they may be a useful in hunting down relatively +ve cashflow properties. Any comments are much appreciated [skull]
Hi
I buy property for people, however if you live in Perth and really want to understand what you are doing then do it your self. Leatrn and understand the market. Research the best areas then get to know it like the back of your hand. If you are wanting to buy a propertyy outside of WA or Australia there are good reasons to use a buyers agent. Because to learn and understand a market you neen more than two or three days.
Nigel Kibel
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For real. Thaks for the advice, I’ve got a few different areas in mind and will continue to do research for at least the next 6 months. I hadn’t heard anything about buyers agents until recently on the net, then I found out a friend of a friend went through one. It cost them about $2000 and then one I saw on the net worked out to be nearly $4000! Seems like a fair difference to me and then I found that costs were not easy to uncover on various other web sites. I’m not sure why they don’t advertise this. It made me a little suspicious. [cigar]
Originally posted by dee dee:For real. Thaks for the advice, I’ve got a few different areas in mind and will continue to do research for at least the next 6 months. I hadn’t heard anything about buyers agents until recently on the net, then I found out a friend of a friend went through one. It cost them about $2000 and then one I saw on the net worked out to be nearly $4000! Seems like a fair difference to me and then I found that costs were not easy to uncover on various other web sites. I’m not sure why they don’t advertise this. It made me a little suspicious. [cigar]
LIke all other professionals, buyers agents fees vary.
They are often a percentage of the final purchase price and vary between 2% – 3%. It is worth considering the agent to fix their fee to ensure they are working in your best interest.
Be very wary of the $2,000 fee – you are probably not dealing with a “licensed agent” at that fee.
There are some unlicensed scouters out there, but with such a significant sum of money involved be careful who you are dealing with. Get some refferences and recommendations form past clients.
Michael Yardney
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