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Hi SiF, we're not going to be drawn into this sort of argument. Suffice to say, we stand on our record and reputation.
.....Sadly I think Ted misses the point in referring to BAs as scammers.......
Hi Player. Thanks for your views. Yes, we're new here at posting (though long time observer). No doubt we'll become more expansive over a range of issues in time. Watch this space. What we won't do is get involved in responding to trolling arguments that play the man in the debate not the issue (one of the reasons we've been wary of dipping our toe in this pool - so it's a shame but perhaps not surprising to get that response from our first posting). So whereas we would be happy to be part of a debate about whether advisors are value for money, we won't respond to accusations that question our integrity. I'm sure you agree that much more is achieved through a civil discussion.
Hi Brady. Wakelin Property Advisory is a business entity and these posts will represent the company perspective on the topics in question. Different people will write at different time. Hope that answers your question.
Hi Brady. Wakelin Property Advisory is a business entity and these posts will represent the company perspective on the topics in question. Different people will write at different time. Hope that answers your question.
BAs charge a fee for service. The fee is broken down into 2 components - non-refundable retainer payable upfront and a success fee payable on un-conditional exchange of contracts.How do BA's charge their fees for service? I have read some saying that they get paid before the purchase.
BAs get paid at unconditional exchange as once this happens, their work is done. There is really nothing more they can do to influence anything further. Many (like Jacque and me) will also do the final pre-settlement inspection for (or with) the purchaser.I would have thought that they are paid out at settlement of the property like the selling agent.
How much do they charge as a retainer. I would hope that it would not be too great or that would scare people off. .
Could be $3-4K or 25-30% of the total fee - there is nothing set in stone.How much do they charge as a retainer.
As rolf said, potential clients who don't want to part with a few $K's before a BA commits a lot of his/her time and effort, scares off a good BA. A retainer is partially a test to see a buyers level of commitment.I would hope that it would not be too great or that would scare people off.
How much do they charge as a retainer. I would hope that it would not be too great or that would scare people off. I saw one BA's website and they say 1.1% of the property value, but that is all they say. They don't mention retainers or how much of that 1.1% they want upfront.
Probably. One of the things you can have a BA do, is some research on the better areas to buy in for your budget. So they can give you specific guidance on which suburbs are doing well now and which have done better historically.In my case I have lots of time to put into searching etc. My issue is I am unable to decide where to invest, i.e. other than that it must be in Sydney.
DO I NEED A BA STILL??
One of the services that many BAs offer is an "evaluate and negotiate" service after you find the property/s.If I can narrow it down to a few suburbs, I have enough time to do the leg work etc.
In my case I have lots of time to put into searching etc. My issue is I am unable to decide where to invest, i.e. other than that it must be in Sydney.
My budget - under 700k
I would prefer a house to a unit ( just my thoughts that land always appreciates more over time), but i know in my budget and my other requirements I dont think I can get a house.
although its for investment, I would like to look at possibly using it for my daughter down the track - 6 to 8 years
want to be closer to the city / uni etc, say within 30 minutes driving.
close to a station, less than 1 K
would be nice if the place had good cafe's etc around.
DO I NEED A BA STILL??
If I can narrow it down to a few suburbs, I have enough time to do the leg work etc.
thanks.