Hey,
Just wondering if anyone had purchased property through rethink investing or had any dealings with them? Looking to buy an interstate property using their services to make sure I get a great property. They have an initial sign up fee of about $1k to view properties then they can source exactly what your after which costs around $7,600 for properties under $500k. Any thoughts would be greatly appreciated.Regards
SamHey Sam,
Buyers agents are a great resource and can help you to make a wise decision. Though charging you to help you purchase a property is not necessary.
We don’t charge any fees with our model and in fact we pay our client’s flights if they are interstate post settlement of a property that was introduced to them by us. That’s our commitment to our clients. Our services are also obligation free. Hope this helps.
Kind regards,
DannyHi Danny
Good to hear you don’t charge a fee to your clients.
Can we confirm that is for established homes as well as knew property?
Cheers
Yours in Finance
Richard Taylor | Australia's leading private lender
Hi Richard,
Thats correct. The properties we introduce to our clients are either to be built, new or near new.
Kind regards,
DannyHi Richard,
Thats correct. The properties we introduce to our clients are either to be built, new or near new.
Kind regards,
DannyHow do you make money in that case Danny?
Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
Clearly they make a $30,000 commission
Nigel Kibel | Property Know How
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Dear Terry and Nigel,
We get paid a commission from the vendor, no different to any other real estate agent.
Our model works. With our assistance, our clients have built up multimillion dollar portfolios.
Kind regards,
DannyThen who is your client the vendor or the purchaser?
Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
Dear Terry,
The purchaser is always our client.
Kind regards,
DannyBut the vendor pays?
You might want to get some legal advice on that.
Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
Dear Terry,
Thanks for the tip. But I think it’s common knowledge that vendors who use the services of a real estate agent pay a commission to the agent upon a successful sale.
Kind regards,
DannyBut you are contracting with both parties.
I will leave it with you..
Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
Dear Terry,
Oh no no no. Now I see where you’re coming from. If you see my first comment above,
Our services are also obligation free.
there is no contract or commitment for the purchaser to go ahead and purchase a property we introduced to them. Whereas a buyers agent would normally have a contract with the buyer, we don’t. Our aim is to provide the best possible service to our clients leaving them the option to make up their own mind whether or not to go ahead with a property we introduced to them.
I hope this clears things up.
Kind regards,
DannyYou are missing my point it seems. You said you act for the purchaser, so you would have a contract with them. If nothing in writing then it would be an oral contract. This is a potential conflict of interest as you are representing 2 clients on the opposite ends of the same transaction.
What happens for instance if there are negotiations done – which there would always be. What if there is a defect with the property and you don’t tell the vendor, what if you are privy to some important information about the buyer that you don’t tell the vendor etc/
Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
Dear Terry,
There is no written or oral contractural agreement between ourselves and the purchaser. We provide the information for a purchaser to make their own decision in purchasing a property.
Occasionally when there is a defect with the property, the vendor is notified and is repaired at the vendor’s cost. Clear lines of communication are maintained for all parties.
Kind regards,
DannySo you act for the vendor?
Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
Hi Terry,
We sell for the vendor by sourcing purchasers. We provide due diligence information and the purchaser decides whether or not to purchase. We don’t charge the purchaser for our services.
Kind regards,
DannyHi Danny
Sounds like you are an agent contracting with the vendors to me.
Lets leave the debate there.
Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
Hi Terry,
Thanks for your interest in what we do.
Kind regards,
DannyHow did you go?
So they charge $1k pre viewing.
Then whats their fee structure after?
7.6k under 500K?
Whats upto 1m? 2m?
Also are those fees @ settlement?
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