BA Victoria
- Thread starter ellejay
- Start date
Lisa Parker from Parker Investment Properties
[email protected]
0413 427 075
You won't find many BAs who work outside of Melbourne, most tend to operate in the inner to middle suburbs. I know Lisa has done quite a bit in some of the outer suburbs as well.
[email protected]
0413 427 075
You won't find many BAs who work outside of Melbourne, most tend to operate in the inner to middle suburbs. I know Lisa has done quite a bit in some of the outer suburbs as well.
Thanks Peter
I had a look at her website. Are BA's getting younger or is it just me getting older?!!
I'm pretty sure she's been in the industry for over 10 years. Never believe promotional photo, my photo above is a classic example...
I'm pretty sure she's been in the industry for over 10 years. Never believe promotional photo, my photo above is a classic example...
Don't worry, I certainly wasn't judging her, maturity doesn't mean you're necessarily any better at what you do. So, have you been using that photo for the last wee while then and are you really, really old in real life?
Really, really old is a matter of perspective. Fair to say I'm older today than I was when that picture was taken.
That's good to know. Thanks for your recommendation and I'll certainly consider it. Its great to get recommendations or not, from people in the know.
Both agents mentioned so far have good reps. Few more to the mix for you
http://www.domainadvocates.com.au/
http://www.advantageproperty.com.au/
As always ensure you have a checklist of items and services you need from them and structure the agreement accordingly.
http://www.domainadvocates.com.au/
http://www.advantageproperty.com.au/
As always ensure you have a checklist of items and services you need from them and structure the agreement accordingly.
Thanks David, that's a huge help. I had a look at your website and will go back to it. Do you have more information about structuring an agreement? I understood that BAs generally have a contract that that they write out and the potential buyer signs if happy with it. I know the main things I'm looking for re services I think i.e. finding and presenting potentially suitable properties, sighting them, assisting with builders survey etc, negotiating an offer and possibly linkage with managing agent in the area. Am I missing anything?
No you are definitely on the right track.
Note I run the site as a hobby so it is definitely not comprehensive and you should always be fully aware of your legal obligations under any agreement - seek legal advice should you need to.
The two key items I like to focus on are:
- price structuring. Ensure you agree on a transactional structure that meets your needs and is matched to the services the agent is providing.
- blanket clauses. Ensure appropriate time frames are in place for the agreement to lapse, list specific towns/suburbs the agreement is applicable to as well as potentially property types.
I touch on it a bit more here http://buyersagentguide.com.au/buyers-agent-faq/fees-commission/.
Other key items to check out and most sites touch on:
- do they have a real estate license
- do they hold professional indemnity insurance
- do they have any conflicts of interest (they are carrying out a similar brief for another client already, they receive a commission/rebate from certain vendors/sellers/suppliers they recommend).
While some agents are reluctant to change their fixed contracts (understandable) I would get in writing any key items you feel particularly strongly about.
cheers
Note I run the site as a hobby so it is definitely not comprehensive and you should always be fully aware of your legal obligations under any agreement - seek legal advice should you need to.
The two key items I like to focus on are:
- price structuring. Ensure you agree on a transactional structure that meets your needs and is matched to the services the agent is providing.
- blanket clauses. Ensure appropriate time frames are in place for the agreement to lapse, list specific towns/suburbs the agreement is applicable to as well as potentially property types.
I touch on it a bit more here http://buyersagentguide.com.au/buyers-agent-faq/fees-commission/.
Other key items to check out and most sites touch on:
- do they have a real estate license
- do they hold professional indemnity insurance
- do they have any conflicts of interest (they are carrying out a similar brief for another client already, they receive a commission/rebate from certain vendors/sellers/suppliers they recommend).
While some agents are reluctant to change their fixed contracts (understandable) I would get in writing any key items you feel particularly strongly about.
cheers
Just looked at advantage property's website and looks like they sell properties as well and charge $13k BA fees (http://www.advantageproperty.com.au/currentopportunities.htm). I wonder if they get any kick backs from developers?
I don't think many people here would use BA who sells properties too.
$13k? ouch, I'll do it myself. I can't believe some of these BA's list their accomplishments as walking up a small hill and stroking a cub in the zoo. Is this the standard?
Ive used them twice, and worked with them quite a number of years ago now. They do act as vendors advocates, and they do 'bulk' purchases of whole unit blocks, which is what you are referring to. This might look as though they are 'selling' property, however they have lined up a whole unit purchase of say 10 units, and then find 10 investors that wish to purchase them individually.
It usually involves changing to strata title and some external renovation. The $13k is the buyers agent fee. Most buyers agents charge around 2%, so its not out of the ordinary.
Teshy
As Tobe has already touched on they provide vendor advocacy, quite different to selling - however that being said it is still worthwhile ensuring there is no conflict and understanding any relationships where there is a cross-over in services.
13k being a fair price is dependent on the circumstances and services provided. To over simplify for a full service million dollar plus property search 13k would be cheap for a 400k property it would be high.
You need to negotiate a pricing structure that works for you. Without knowing your exact circumstances I imagine you a going for a standalone property search and purchase so I would be looking at the lower end of the pricing range.
Unfortunately some buyer's agent sites have shocking copy for client testimonials and achievements but this seems to be widespread throughout a lot of Australian websites.
cheers
As Tobe has already touched on they provide vendor advocacy, quite different to selling - however that being said it is still worthwhile ensuring there is no conflict and understanding any relationships where there is a cross-over in services.
13k being a fair price is dependent on the circumstances and services provided. To over simplify for a full service million dollar plus property search 13k would be cheap for a 400k property it would be high.
You need to negotiate a pricing structure that works for you. Without knowing your exact circumstances I imagine you a going for a standalone property search and purchase so I would be looking at the lower end of the pricing range.
Unfortunately some buyer's agent sites have shocking copy for client testimonials and achievements but this seems to be widespread throughout a lot of Australian websites.
cheers
Ellejay,
I am not sure Frank and his team at Advantage Property normally go out too far from their base around inner/middle south east of Melbourne. As tobe said they also have a speciality in buying old unit blocks on one title for a group of their investors, they manager the process, strata title it, arrange exterior renovations etc, so $13k is a fair price for what they offer for that service.
JPP is another well known and experienced BA that often will go further out and include Geelong as well. From memory they charge a fixed fee rather than a commission base as some others do.
I have had clients use both and had reasonable feedback as to the services and outcomes.
Why do you want to buy in outer suburbs of Melbourne?
I am not sure Frank and his team at Advantage Property normally go out too far from their base around inner/middle south east of Melbourne. As tobe said they also have a speciality in buying old unit blocks on one title for a group of their investors, they manager the process, strata title it, arrange exterior renovations etc, so $13k is a fair price for what they offer for that service.
JPP is another well known and experienced BA that often will go further out and include Geelong as well. From memory they charge a fixed fee rather than a commission base as some others do.
I have had clients use both and had reasonable feedback as to the services and outcomes.
Why do you want to buy in outer suburbs of Melbourne?
Thanks Greg
My reasons for considering outer Melbourne are that I am a bit unsure about the Aus market in terms of value for money (just my opinion). I am probably old fashioned and expect/want to buy a stand alone 3 bed but psychologically find the prices of these too high. Insurance issues put me off queensland, WA will be too far away when we eventually leave to be able to manage ourselves. Victoria would be the best choice if we bought anything but the numbers put me off. I had heard about some suburbs in outer melbs which would be the closest fit for me.
I do understand the high BA charges usually correlate with expensive property purchases. I don't want to spend more than 250k so realise charges for me should be cheaper. Not sure I'll find the IP I'm looking for in Aus but will keep exploring.
