Try House Search Australia – /www.housesearchaustralia.com.au
Talk to you buyer’s agent if you need help with any of the steps. They are experienced in this regard and can offer references and insight to help through the process.
Zach
Great post mate but South Carolina is a long way from little olde Brisbane.
Richard Taylor | Australia's leading private lender
What a joke buyers agents are-charging a % of purchase price, what-for every dollar more expensive the house is do they spend a proportional amount of time on researching it? And for $10k I would want them working full time soley for me..dreamers….
Blogs, you're dreaming….. Agents working for the vendor also charge a % of the sale price. Do you attack them for not working solely for you when you come to sell? Do you always multi-list your sales? Do you rely on the agent to recommend the best method for selling your property (auction/private treaty/EOI/tender)? Do you have an open agency agreement with your agents? No, of course not, you are after the best price which is usually achieved by having one agency working on the sale – it may sell at the first opening or it may take 6-8months. If it sells quickly for more than you would have settled for, do you require the agent to drop their price?
Conversely, buyers agents have several clients. They may find the perfect property at the first inspection or at the fifty first. Do they charge you any differently? Do they charge you by the hour/per km driven/number of inspections/by the number of properties that they have viewed and rejected? As for costs – they all have their running costs (RPData/Residex etc), site inspections, time spent with agents to find the right properties, time spent with the client to discuss the brief (so that they don't waste your time and theirs), insurances, mv, phones, staff (some do use others for their research).
It may not seem like much to yourself however the right buyers agent can achieve better results for their clients than hacks oops investors without the right skill base. Luck may play a great part in your negotiations however strategy, knowledge, skill of the negotiator play a larger part. Who negotiates more often – the real estate agent selling a property/buyers agent or the investor who might buy one property every few months/years? Who has developed a greater skill set when it comes to negotiating the sale/purchase (very different skills)?
There are many first time investors who lack the confidence to negotiate a purchase, bid at an auction, undertake due diligence, number crunch who have the foresight to understand that they don't know and ask a consultant to do their bidding. Even seasoned investors engage agents for this purpose (yes they may be playing for bigger stakes but if they have paid too much for a site, their numbers will not stack up). All they want at the end of the day is the feasibility study which backs their business plan not have all of the BS when it comes to fielding 20 possibilities.
(rant off).
Scott, I also believe R.E A gents are grossly overpaid-just couldnt be bothered posting it. Largely the property sells itself, if you think the agent sells it you are dreaming…..
Hell, lets presume my property sells in two months, a fair time on market. I could hire some one full time on a pro rata wage of around $120k for what they charge. For what-a used car salesman…? Dreamin….
We don't haggle over the price of a capuccino with a gross profit of 75% why bother with agents? (you'd probably spend just as much on your twice daily caps over a couple of years as you would with your agent).
Scott that is one of the silliest rebuttals I have ever read, hopefully you are being sarcastic/tongue in cheek?
Obviously if you are an intelligent person well informed in the ways of the world you would realise that low sell price items such as coffees, newspapers, screws at Bunnings etc all attract very high margins due to the fact that the contribute little in the way of covering overheads, and there associated overheads on a per item basis are quite high. Sure a coffee might cost $0.40 cents to make plus overheads, and it gets sold for $2.50, but gee to make $120,000 a year you have to sell around 92,300 coffees lol basically one every single minute of every single day. Crazy…
But the poor ole B.A/R.A only have to sell a few properties a year and they are set. A dead set bunch of crooks-I see plenty of land rats driving around in Masseratis, Lambos, Beemers and Ferraris (my heart bleads for them) but cant say I see the corner shop owner or hardware guy rocking up in one….funny that eh?
No matter which way you look at it what we are getting charged is far in excess of the associated costs and associated skills required. Its not even as if they have to go to uni for years, be highly trained, highly skilled or even highly stressed-THEY ARE IN A WIN WIN SITUATION if the property doesnt sell easily its becaus the market is slow or the vendor wants to much, if it does sell its becasue they have done such a great job lol, so how do they justify the high fees??
Con of the millenium…
Blogs, it is the market which determines remuneration not the vendor, that's why it is called negotiation. In life everything's negotiable.
Getting back to coffee, I know plenty of coffee operators who have turnovers in excess of $1M pa, you need it to survive in a regional shopping centre and yes they pull out their $120k+ even when their premises are under management (they actually get less than what the lessor does).
But seriously, RE is all about presentation – would you buy a house from an agent who drives around in a VN commodore maaaate? Nor do they drive around in Mazzos or Lambos (two door cars are not very conducive to getting larger/older/less mobile clients around), they need sensible 4 door cars with auto gearboxes. (My local hardware store owner lives on Sydney waterfront too).
How can you assume how much it costs to make a sale, afterall they have to have the flashest cars in town? If it takes the full 3 months to make a sale they have to wait another month & a half until they see their commission ie 4.5 months before they see a cent in the meantime having paid rent, wages, advertising, super, workers comp, office equipment costs, power etc. Best case scenario is they will have to wait 1.5 months if they sell at the first opening. Unlike the coffee operator.
In a difficult market, margins move (along with property prices), agents have to work (well occasionally) for their commissions in markets like those of recent times. Good agents survive, poor agents obviously must drive classic cars.
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