Anyone here have experience with property buyers agents?
I've had a look at some on REBAA
rebaa.com.au/
To spend a few thousand saving a lot of pain in the neck doing legal and research work myself, I think it's worth it.
But I bet there are cowboys in there too! 
Any advice?
Thanks
A mate used one and fired him. The guy had told him hed never get the price my friend proposed, he did. My friend felt the agent offered very few benefits for the cost of the agent.
With so much property information on the internet, is it worth it?
http://rebaa.com.au/benefits-of-using-a-buyers-agent/
I find the benefit claims a little empty.
For those that are unable to speak for themselves, do research for themselves and are happy being told what they like to hear then by all means, they are really only real estate agents with another name... only wanting their slice of commission, cynical yeh I know...
Select to expand quoteLoftywinds said..
To spend a few thousand saving a lot of pain in the neck doing legal and research work myself, I think it's worth it.
Any advice?
Don't be lazy. Educate yourself and do your own research.
Select to expand quotecisco said..Loftywinds said..
To spend a few thousand saving a lot of pain in the neck doing legal and research work myself, I think it's worth it.
Any advice?
Don't be lazy. Educate yourself and do your own research.
Says the man who's unemployed or has sooo much time up his ***
nah nah nah./.. you can't red thumb me...
OK. So you hire a buyer's agent to find a property for you and do all the legal work and you pay him a fee.
Considering it is your financial future that is at stake here, I have few questions to ask.
What incentive does the buyer's agent have to get it right??
If he buggers it up and you end up in a losing situation, what comeback do you have on the agent??
If he gets it right, do you have to pay him extra???
Does he get a commission from the vendor??
Select to expand quoteAnswers in line below,,,
cisco said..
OK. So you hire a buyer's agent to find a property for you and do all the legal work and you pay him a fee.
Considering it is your financial future that is at stake here, I have few questions to ask.
What incentive does the buyer's agent have to get it right??
REPUTATION
If he buggers it up and you end up in a losing situation, what comeback do you have on the agent??
NONE. No one is perfect. In reality, I would have to sign along the way to agree on the property found to be what I want. no one is forcing me to buy it.
If he gets it right, do you have to pay him extra???
Yes, on settlement of the property unconditionally.
Does he get a commission from the vendor??
No. that's called a conjunctional and as a buyers agent, you will not make friends anytime fast. you would be hated by the vendor's agents.
Yeah Ive done my research, but at the end of the day, if it costs me 7,000 to have found the right property whilst I focus on my life !! then it's worth it. I hate agents anyway, bunch of cowboys and gangsters. Let the agent deal with them.
Select to expand quotecisco said..
OK. So you hire a buyer's agent to find a property for you and do all the legal work and you pay him a fee.
They don't do the legal work. You would still need a solicitor / conveyancer
Considering it is your financial future that is at stake here, I have few questions to ask.
What incentive does the buyer's agent have to get it right??
Their fee generally
If he buggers it up and you end up in a losing situation, what comeback do you have on the agent??
None
If he gets it right, do you have to pay him extra???
Usually its set at a percentage or a flat fee
Does he get a commission from the vendor??
No it is illegal in Australia to collect a fee from both parties, although it is common practise in parts of Europe and the US.
Usually a buyers agent is a real estate agent who doesn't have the ability to get listings themselves. The only time I would think them useful would be if you were purchasing a property from OS.
If you were in the market to buy and didn't know that market it would be cheaper and more effective to engage a valuer to assess the propery you want to buy and use the report as a negotiation tool.
Usually buyers agents are considered smart ar$es by selling agents and as such the majority of agents will go out of their way to sell a property to another buyer.
Select to expand quoteLoftywinds said..
I hate agents anyway, bunch of cowboys and gangsters. Let the agent deal with them.
You hate agents so you are hiring an agent to deal with them.
How does that work??
For $7,000 I will quite happily do the research and find the right property for you. That would be upfront money of course.
Let the negotiating begin.
I'll find you the ultimate dream home in your budget! $6950!!
