Should I use a buyers agent ??

Using a buyers agent can certainly be valuable – especially if you’re new to investing or wanting to invest in an area you’re unfamiliar with (interstate etc).

$8,800 is about right, some States are more/less. The key with selecting a buyers agent is to ensure they’re working exclusively for you, not selling you developers stock for kickback/commissions.

Are you looking at using a buyers agent in Sydney, or another State?

Hi @retireyoungfree

Welcome to the forums !

The question of whether it is worth hiring a BA is rather a big question.

Depending on the service offerings that are included in a particular BA’s service, they may be of value to you in a number of ways including:
– Putting an end to analysis paralysis by doing analysis for you and getting on with acquiring a property
– Leveraging knowledge they already have about an area to move swiftly for you
– Targeting the kind of property that is possible for you to secure finance for, and with the right numbers for you to hang onto the property easily
– Walking you through little things you might not understand or even know about with respect to the purchasing process and becoming a landlord

Some BAs charge by percentage of sale price and others a flat-rate fee. Remember that GST may apply so it is important to check if GST is included in the fee quoted, and be clear on the services provided within the fee as this can be quite different from one agent to the next. For instance, normally, you will be required to nominate where you wish to buy and the agent will either take you on since your nominated suburb(s) are within their area of expertise, or indicate they cannot take you on since they do not cover your nominated suburb(s).

I find that a lot of clients are keen to do their own research/hunting and come to the realisation there is physically not enough time in their busy lives to do so. Or that they continually allow nerves to get in the way and thus never actually take the step of purchasing. These are a couple of examples of people that use BAs to take them forward more quickly than they could move alone.

Normally a BA is located local to their service area thus enabling them to be extremely familiar with the area and the market.

You probably need to work out where you are trying to get to with investing, and whether you think you can get there on your own or whether you would like a hand, whether it be only for the first purchase till you know how things work, or whether you then find that it really works for you and you feel like you can move forward quicker with the help. If you aren’t sure what sort of thing to buy or where, then a BA that includes suburb selection in their service might suit you really well.