Just wondering what peoples thoughts are on the usage of a buyers advocate. Seems like everyone I speak to about the subject is very opinionated about their use.
A waste of money? Or do they have their uses in special contexts?
I think they're great.
However, like any profession – the quality can vary quite a bit.
If you've got the time, knowledge and ability to source and negotiate on your own deals than a BA might not be appropriate for you. If you don't – then a BA could be a very good option.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone MeMortgage Broker assisting clients Australia wide Email: [email protected]
Hi Jay
Following on from what Jamie said, like in any professional, quality will vary, as will what's included in the service.
There are all sorts of reasons people might use a Buyer's Agent. The reasons include:
– Lack of confidence in negotiating
– Lack of time to conduct due diligence on suburbs and properties
– The desire to purchase in an area that is geographically far from your home and the realization it makes more sense to pay someone else to go shopping for you in lieu of forking out loads of petrol money or flight cost money, and large chunks of your spare time
– The realization that Buyer's Agents tend to hear about deals before they hit the market
The key is to determine what your goals are and ensure that whoever is doing the hunting for you – whether it be you or a Buyer's Agent – is working within those parameters. If you are struggling a bit on determining what your goals/strategy should be, you'd be looking to ensure that professionals you hire are able to see the path that needs to be trodden for you and talk to you about proposed strategies before staring the hunt for properties.
Hope this helps!
Jacqui Middleton | Middleton Buyers Advocates
http://www.middletonbuyersadvocates.com.au
Email Me | Phone MeVIC Buyers' Agents for investors, home buyers & SMSFs.
The other thing a good buyers agent does (and i have to say JacM is too modest but she is an excellent one) is listens to what you want and caters the end product around that.
To often i see clients end up with a property that probably doesn't suit their needs and objectives and they end up saying to themselves "at least we are on the first rung of the investing ladder".
With our "Turbo charge" your portfolio approach we have a series of stages that we walk the investor thru remembering that it is not just a one off buy and forget it is a partnership you with over a number of years to achieve what you want.
Buying on your doorstep may not necessarily be the right approach so with an interstate or intra state purchase i think a good BA is well worth investing in.
Cheers
Yours in Finance
Richard Taylor | Australia's leading private lender
There where instances that those who did not acquire BA ended messing up their chances in owning a property. That is why; most of homeowners tend to hire a BA. If you do so, just make sure that the person is with licensed and credible.
It is worth using a buyers agent especially if you are wanting to buy in another state. It is also important to make sure that the agent specializes in investment properties and also has a wide number of strategies that will suit your circumstances.
Nigel Kibel | Property Know How
http://propertyknowhow.com.au
Email Me | Phone MeWe have just launched a new website join our membership today
Are you buying interstate or within the area you are living in?
TheFinanceShop | Elite Property Finance
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Email Me | Phone MeResidential and Commercial Brokerage
In addition, you don't need to exert more effort since the BA will be the one to process the documents needed in your venture.
Further to what leaderscorp says, yes, "some documents" are processed for you. As to whether absolutely everything is handled for you is dependant upon the agreement with the BA. Generally it's just the acquisition that would be handled. Nothing to do with arranging building and pest, property management, or anything that involves dealing with the council. I choose to handle the lot, but it's not the norm.
Jacqui Middleton | Middleton Buyers Advocates
http://www.middletonbuyersadvocates.com.au
Email Me | Phone MeVIC Buyers' Agents for investors, home buyers & SMSFs.
Would people use BA for interstate IP?
I'm also considering BA for IP that I cannot drive there.
Of course. People want to buy interstate for reasons such as spreading risk, having a property in a market that is expected to experience high capital growth, or reduction of land tax liability (by not having the entire portfolio in one state). Australians living overseas but wanting to purchase property in Australia also find BAs very handy since they are not on the ground here to shop for themselves.
Jacqui Middleton | Middleton Buyers Advocates
http://www.middletonbuyersadvocates.com.au
Email Me | Phone MeVIC Buyers' Agents for investors, home buyers & SMSFs.
Nue – not only are they used for interstate purchases. I've had plenty of clients use them for intra-state purchases too.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone MeMortgage Broker assisting clients Australia wide Email: [email protected]
That's what I was thinking and what I will do for anywhere I have to drive more than 800km.
Jamie, since you are in Canberra, do you know any BA for NSW?
Thanks.
Regards,
Nue
Yep, where are you looking?
Jac m who posted in this thread does.
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone MeMortgage Broker assisting clients Australia wide Email: [email protected]
Few suburbs: Narrabri, Gunnedah, Armidale, Parkes, and Albury
Also any recommend BA for VIC and QLD will also be great.
Does JacM do all states? or just NSW?
Thanks.
Nue
A good buyers agent is worth their weight in gold if used correctly.
Hi Nue
I think JacM covers Vic, NSW, and QLD.
Couldnt go far wrong there.
Cheers
Yours in Finance
Richard Taylor | Australia's leading private lender
A good buyers advocate will not only cover different markets but also different price ranges and different strategies. They will also look after your interests and not there own. I think it is important to look at a number of strategies and that could include property development, off the plan and buying established properties,
It all depends on the individual and what there finances allow them to do. A strategy for someone on $200,000 is totally different to someone on $30,000.
Nigel Kibel | Property Know How
http://propertyknowhow.com.au
Email Me | Phone MeWe have just launched a new website join our membership today
I could not agree with you more Jacqui.
Can anyone suggest BA's in Geelong, Victoria
DaOne | Oras Finance - Your Local Mortgage Broker
http://www.ihomeloans.net.au/
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