Hi, I would like to ask if anyone ever use BA Berman Buys? He advertised on his website that the fee is only $2,899 (full service) while others charge at least $10k? Many thanks.
None of my clients have......and our mentor group does a fair bit of work for BA clients, doesnt mean good or bad. Id say if its the same service and actual outcomes and service provider experience, then the BA is leaving 5000 on the table. ta rolf
I personally would never use a BA, however, I know someone who uses BAs for every purchase, and found that Berman Buys offered the same level of service and was happy with the purchase and service. However, she had a very clear idea of what areas she wanted to purchase in. Supply and demand, there seems to be a lot of competition in certain areas, therefore some businesses will use a different business and costing model.
Yes, so let me expand on why I would never use a BA. I have seen too many BAs spruiking properties in Brisbane/Logan, where their "advice" has left people with properties that have not seen any capital growth for years, and there is a few examples of units bought in East Brisbane 5-6 years ago that have sold for around the $60,000 less than they were purchased for. Do a search on Property Chat to see how many BAs are spruiking Logan, where most locals would avoid, then search "Logan" to see how many people are not happy with their purchases in Logan and are wondering why they haven't seen any capital gain. However, if you have a clear idea of what area and product you are looking for, have done a lot of research yourself, and just need someone on the ground to assist you with your purchase, Berman Buys might be good value. I don't have an agenda, nothing to sell, unlike many people on Property Chat.
I still think you're confusing a BA with a property adviser. Firstly, anyone "spruiking" anything isn't a BA plain and simple. They might call themselves a BA/adviser/mentor or any other number of terms, but a true BA doesn't "spruik" anything. Secondly, a BA's fundamental job is to buy a property, not provide advice. Not all BAs are created equal (as with any industry) and some BAs will provide suggestions and ways to invest based on experience but are not necessarily qualified to do so and should be doing so as either a separate service, or integrated product with appropriate disclaimers. If a client provides a brief to buy a property, the BA will use their skills and experience to complete that purchase on behalf of the client and take into account their knowledge to buy the best asset for the brief (which yes, should include future demand and therefore price hold on that asset), but the BA does not and cannot assume the performance of the asset, for many reasons. If a BA is recommending and pushing a certain type of class of property and/or in certain area, then yes, someone might be jaded if the asset doesn't perform, however this is akin to advice, not performing the function of a BA. So the buyer should ask themselves, "Am I after investment advice or do I want a BA?". If the answer is both and they want the BA to provide both services in conjunction then they should be prepared to pay a higher fee and delve further into the qualifications of the BA on the advisory side. The BA should provide disclaimers that whilst they are able to provide advice and guidance based on their best knowledge at the time, at the end of the day the investor assumes the investment risk, not the BA. This is true for any investment class. You can't just employ a BA, wash your hands clean and then blame everyone else but yourself if the investment goes bad. The market can turn for any number of reasons outside of anyone's control. I was looking to employ a BA to purchase in Victoria a few years ago and she was suggesting an area I just did not agree with. She had her reasons, I had mine but I didn't engage because I disagreed. If I'd gone with her I'd be worse off now, but if I had the fault would be mine, not hers. Lastly, I still struggle to believe any true BA was charging a fixed fee to buy OTP apartments in Brisbane a few years ago. If they were being paid by developers then they are not BAs, if they were being paid by clients there is still every chance they were also being paid by developers and probably not true BAs. It sounds like your friend had a bad experience but I would be very interested to see the engagement agreement and have a look at the underlying remuneration. I can assure you that 99.9% of the BAs I have ever come across would not have recommending OTP apartments in Brisbane a few years ago. There is something more to that story. A good BA will outperform most "Mum and Dad" purchasers and therefore is more likely to buy better than said investor, but it is not to say it can't be done alone. People employ BAs for many reasons but those who go in completely blind with no idea, no knowledge and no genuine research into the calibre and quality of the BA they are engaging are setting themselves up to fail. Like everything in life, you must work in some regard to get a result and for those looking to employ a BA, the work you must do goes into choosing one. Take your time, do your research and pick one who works with you and for you in all regards and the probability is that the result will be better than you could do yourself. - Andrew
Actually, no I am not. ]Lastly, I still struggle to believe any true BA was charging a fixed fee to buy OTP apartments in Brisbane a few years ago. I[/QUOTE] The property was 5 years old, not OTP. You don't have to go further than Property Chat to see Buyers Agents spruiking an area, so how is the average person to know? As I stated, Seems like we may be saying the same thing.
"One of their key roles is to provide advice to clients on where and what to buy, says Justin Lilburne, a buyer’s agent for JPP Buyer Advocates." The ultimate guide to using a buyer’s agent
It appears you haven’t genuinely read or understood my post...I maintain that if someone engages a buyer’s agent the fundamental purpose is to buy a property on behalf of a client, not to provide advice. Most good BAs will amalgamate that service however completing a given transaction is the fundamental role of the BA. Once again, if you believe it is the BA’s role to provide investment advice, when many are not equipped to do so, then you are confusing a BA with an adviser, it doesn’t matter how many quotes or links you post. That’s the thing with confusion, it’s hard to see when it’s happening. We will go around in circles here because as other people have noticed, you do indeed have an anti-buyer’s agent agenda with your posts and that is fine, it is not for everyone. However just because your experience was poor does not render the role and benefit of engaging a good BA moot. - Andrew
im starting to see a pattern based on other threads that some people just like to argue and that if you dont agree with them and worship their statements, they get grumpy and have a hissy fit
I simply don't care what anyone else thinks, they probably also have an agenda and don't wish to be challenged, just because people "like" your posts and support you, doesn't validate your post. [ - Andrew[/QUOTE] Yet you continue to reply to my posts. I think you are the one going around and around in circles and have not read or understood what I have stated. I have personally never used a BA, however, I have seen the aftermath of poor advice to a friend. I have seen the agreements, it was a BA with an engagement fee and a "success fee". I understand that you believe that your certificate or units of competencies makes you some sort of "professional", but it simply doesn't. Again, I stated "However, if you have a clear idea of what area and product you are looking for, have done a lot of research yourself, and just need someone on the ground to assist you with your purchase, Berman Buys might be good value. I don't have an agenda, nothing to sell, unlike many people on Property Chat." If you believe that your role is without giving any advice, then I would question how you can actually achieve this as your clients would be expecting some sort of dialogue with you, not simply "find me a 4 bedroom house. 2 bathrooms, in Milton area for this price, I like Queenslanders, won't look at a main road, at least 400m2 and my budget is $XXXX" . What if I stated that I wanted to buy a 2 bedroom unit (not OTP) in East Brisbane for an investment and I am looking forward to excellent capital growth, you wouldn't give me any advice? This is the problem with the Property Services industry, low barrier to entry, a quick course and you are a BA or a Real estate agent. But you digress from the actual post, if you weren't being so defensive you would have taken on board my reply, again for those in the back seats [
I see a pattern that people have agendas and want to protect their industry- where I don't have an agenda. If you think challenging someone is a "hissy fit", then you must be very gullible. When people don't use their real names, you don't look very credible, just someone behind a keyboard. I am not grumpy I just think that if you are going to sprout BS that you should be challenged. Especially if you write essays and are defensive. You all keep replying to me, but you just don't like the replies, a sign of a very weak position when you resort to language such as "hissy fit"!
I am yet to see a BA who does not advertise themselves as being able to give "expert advise" . They are always talking about "data", "correct data" as if they analytical experts that know and advise so that their clients can make informed decisions. Nah...BAs are not expert property advisors
Yep so true....so terrrible advice and purchases from some BAs. They are not the only ones to blame...the idiots who employed them in the first place and the fact they went back for more despite not making much profit. Some people don't like to hear the truth...lots on Property Chat like that......results should speak for themselves....
This thread is about Berman Buys, not about whether you should use a Buyers Agent - please stay on topic.
What did you take “buying better” to mean and what does that have to do with providing advice? They’re two different things. Which mean, as I have already pointed out, that they are providing advice inclusive of their buying service. Many clients will use a BA and point a particular listing and say “I want to buy that property for my PPoR, please do my due diligence and negotiate for me”. This is the fundamental role of the BA - they buy that property for the client and do not provide investment advice in this case. They simply dig deeper into the purchase and cover bases that the average buyer could not and will not even cover to ensure it is “bought better”. This inherently adds a layer of protection for the inexperienced buyer. The only thing I will clarify is that in my previous posts I have been using the term “advice” as meaning “investment advice” (given this is a PI forum). If you want to take “advice” encompassing the passing on of knowledge gained on a basic purchase as a result of DD, then yes, of course every BA provides that service by nature of the buy. However not all BA purchase relate to buying IPs. - Andrew
And just because you don't agree with a post doesn't invalidate said post either, it remains very valid for many people, that is the nature of opinion and politics. I don't believe this at all and I actually agree with you. Professionalism is a mindset and is demonstrated by repeated and consistent behaviours that would be deemed as professional. It is about striving to constantly improve yourself, accepting responsibility for errors and respecting your role and industry. You don't just gain a qualification and call yourself a professional, it is earned over time like trust. Unfortunately, most people in real estate don't understand this which is why agents of all varieties have the reputation they do. See my post above. You are just assuming the role of a BA is to always buy an IP. - Andrew
