BA Victoria

ellejay said:
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.
Click to expand...

You will find it very difficult to find something for 250k in Melbourne's outter suburbs without including BA fees.

I did a search and 3 Brm place in Wallan (regional Victoria) is advertised 280-300k http://www.realestate.com.au/property-house-vic-wallan-117316003

Even a townhouse in Dandenong for 2brm is $230,000+ http://www.realestate.com.au/property-unit-vic-dandenong-117379915

The BA may still charge the same as another property in commission as they are going to have to drive 1hour plus each way to inspect a property.
 
DavidTomlins said:
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
Click to expand...

Hi David

Great list and especially important for consumers to check that any BA they use is appropriately licensed and insured. We know that REBAA members are in their respective states (as they need to go through a membership process to confirm this as well as reference checks) however we recently issued a press release on this very issue as there are still many many companies/brokers/FP's/accountants offering BA services by unlicensed individuals. There is also an ongoing and growing problem with BAs licensed in one state but acting outside of their jurisdiction for buyers in other states.

Let's get it straight- if your BA is acting for you in Australia you need to ensure they are appropriately licensed in whatever state/territory they're acting on your behalf for. See article here in Property Observer this week http://www.propertyobserver.com.au/...il&utm_term=0_a523fbfccb-cb07d936d0-245316457

I'd also like to point out how easy it is for potential purchasers to check out if a company and their prospective BAs have the right qualifications. Simply running a licence check is not difficult and should be the first port of call when considering who to use in purchasing what is often one's largest asset. See below for links to VIC, NSW and QLD for basic starters:

VIC
http://www.consumer.vic.gov.au/businesses/licensed-businesses/estate-agents/public-register

NSW
https://www.licence.nsw.gov.au/LicenceCheck/

QLD
http://www.fairtrading.qld.gov.au/registers/check-licence
 
 
Good options Spiderman.

Ellejay another option is large regionals. Bendigo and Ballarat are growing and affordable and I particularly like Albury/Wondonga. Large and growing population, solid rental market. Entry price wise you would have full run of the market there for a decent house and not in the worst parts of town. Also there are some BA's who work outside of capital cities and their fees aren't all 10k+. Keep up the DD work, the better the quality of the questions you ask, the better responses you will receive.
 
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