Buyers agents?? Worth the 8% or research yourself..

Most BA’s my clients have utilised are 5-12k max, dependent on the State, property price etc.

They certainly have their place, not everyone has the capability or skill to invest hundreds of hours into learning about an area and investment class – it doesn’t take much to make a mistake which will cost you many factors of the cost of a BA by buying in the wrong area, paying the wrong price etc.

tumfrombrisbane wrote:

I’m definitely much keener to educate myself further about Brisbane as a whole and the areas of potential boom whilst building a portfolio, I really just want to know of people who have used an agent and what their story is, Did it pay off, Or was it work that can be done yourself with a little dedication to your portfolio building?
Cheers
Tim

This says a lot about you and is a good indicator that a BA is probably not a fit for your personality type and investing style. Which is totally fine by the way. People who have done enough work to get success 3 or more times and enjoy the time spent plus the process of research, due diligence and negotiation may need a BA less than others. The folks that enjoy success with BA’s tend to want their lives back so spend less time on forums. A big part of why I do what I do is because I hate hearing stories of people being fleeced and ripped off in the market. For some people the process itself is daunting, and their lack of knowledge, confidence, or time means they will struggle to outperform the market or be sure of getting good value quality properties. Others don’t even know what they should buy as they haven’t been able to clarify their goals and set a plan that will get them there. It ends up being about trust, and working together. Protecting the interest of my client is what drives me.

If we think about other skill sets, I have seen good solicitors being worth their weight in gold in nasty property transactions so I would trust one completely every time, even though technically I could do my own conveyancing. Its it good value to me to pay a solicitor? Yes. Is it good value to pay a surgeon when I need an operation? Yes. It is good value to pay someone to mow my lawns? Yes. They do certain things faster, better, and I would rather be doing what I love and am best at. Are all those things good value to someone else? I don’t know that is up to them.

If I can find a team I enjoy working with who do a good job and make my life easier, I will do that every time because I love that way of working. Some people want to do everything themselves and never trust others, they have a different set of values and drivers. Which parts should you do yourselves and which parts should you get help with? That is different for every person.

To be fair I guess at 70k it might be 8% on a fixed fee around 6k. Not a common purchase price anymore though.