Buyers Agent Institute - Ben Handler

I work 6 days a week, full time. I get home at 8pm most nights.
On Saturday I started at 8:30am got home at 5pm - then was on the phone and email for the next 3-4 hours, while on date night, and again for 3 hours sunday. This is a typical day Monday through to Saturday.

I am busy from the minute I leave the house until 6-8pm every weekday (sometimes 10-11pm at night when negotiations are going on) and I still don't finish my to-do list AND I have an assistant who takes care of a lot of my admin and the organisation of my personal life (travel, booking in home maintenance, organises birthday parties etc). I go home, eat dinner, and log back on at 10pm to finish tasks I couldn't get done during the day.

If these newbies with no industry experience can show me how I can have "this lifestyle business, where I work my own hours, earning 6 figures, without any experience AND keep a part time job" I would LOVE to learn how to do that. I have obviously missed something in my 15 years of buyer advocacy.

 

I think it was a great question and I wonder the same. If it's ALL about running a business - what is the client actually getting? A person who calls themselves a BA, but is just really good at self promotion.

I just heard from my local cafe owner that one of his long term friends (with no industry experience) has "suddenly popped up and said he is now a BA". I am mortified. I have trained & mentored many BA's. Half do not last (because it is hard work). And many are weak in key areas and need ongoing mentoring and checking of their work until they develop ALL of the necessary skills. This takes many years for most advocates to really become a very solid and reputable BA, with the exception of the few percent of people who are born naturals at property and will excel a lot sooner than most.

One example of this was a BA I mentored. They wanted to recommend a property to their client and I asked why that property, the answer was "because the agent called me and no one is on it and it's going to sell cheap"

This is NOT a reason to recommend a property to a client.

The reason there was no interest and it was going cheap was obvious within seconds of looking at the property on the internet. It was a lousy asset with 4 major things that would impact growth and future demand for it. But the buyers agent didn't have enough of a foundation behind them to ascertain that, despite working in the real estate industry (having various roles) for 15 odd years. There was no consideration to strategy or brief - it was just going to go cheap so that was enough for that BA to want to recommend it. This is an example of very average BA work.

So if someone with industry exposure can make such a poor judgement call, how on earth do these new BA's know how to assess a property if they have never been taught?

These BAI students have never worked under anyone, haven't received on the job training and don't have a suitable mentor to learn from.

If consumers want to get free or cheap advocacy work, that is completely their choice, I just hope that the consumer knows that they are being practiced on by an inexperienced BA with no supervision and I just hope it doesn't tarnish the reputation of solid BA work.

Buyer Beware
#askforexperience

 

I think the point of this thread is that they reduce standards (don't put as much effort into buying a property as you do). No one said these buyer's agents being churned out were as good/diligent as you.

The one thing I would say though again is niche, if you are a buyer's agent who say specialises in sourcing developable blocks in a certain area then the wait may simply be quite long between deals because there aren't that many (different workload). For sure we can criticise about not trying off market channels (how much is too much), but the question of whose niche is better is a whole nother ball game-if ones niche means there is quite a bit available then you'll probably be very busy, if ones niche is quite the opposite then patience is what occurs.

Sounds like you are a very successful buyer's agent Lisa. Less successful may have 0.5 clients per month=different workload.

There are many ways the real estate industry could be reformed for the betterment of the nation and society.

 

I did the course over a year ago and have an established business in Adelaide where I’ve hired 3 people in the first 12 months because I got that busy.

Being a buyers agent isn’t easy it requires work which very little people will do.

 

Official media release from REBAA (Real Estate Buyers Agents Association) relevant to buyers agency training standards in general.

REBAA calls for better training for buyer’s agents | Real Estate Buyers Agents Association of Australia (REBAA) Inc.

Sebastian James
NSW State rep for REBAA

 

Nice one REBAA. Client outcome should be the focus of a BA- not quiting the day job and earning big (and easy) cash.

 

Hi Luke, just curious did you just need to study the BAI course and then start running your own buyers agency independently, or did you need to operate your business as an affiliate under Ben’s company and split your business income e.g. like a franchise?

 

Very well said. They don’t offer certificates despite the fact students are told they do and also tell them they won’t receive it till after they get thier COR.

Id also like to note there are a host of extra costs that they don’t inform people about on enrolment and thier zip money payments are a problem, if you want to leave, you’d be stuck paying despite whether you doing the course of not.

Ive been advised by a business colleague that educational businesses are required to have thier abn displayed on thier website and in email communications, but there’s nothing there on BAI

 

Hi All,
I was very interested in doing Ben's Buyer Agent Course.
I received an email and watched his Webinar - The webinar made it sound very easy to get started and earn $98,000 within your first year. In fact a lot of people did a lot better than that according to the webinar testimonials.

I was suspicious because he had no contact phone number on his website and I could only contact him via email. I thought I'd do some research before agreeing to the phone call appointment. This was all arranged via email so that he could call me.

On the NSW Department of Fair Trading website, it tells you about industry reforms started on
23 March 2020 in regards property professionals. They have restructured the licencing system for people wanting to become a property professions.

The Buyers Agent Licence is now incorporated under a Real Estate Agents licence. To have your own agency you would need to get a Real Estate Agents licence - class 1. Starting from scratch with no prior property experience this will take you 3 years. You need to pass the required training courses and prove you worked under a register real estate agent during that time.

I emailed Ben Handler my concerns about getting licenced. He asked me to email him my phone number which I did so he could explain everything. We then spoke together about 2 hours later. "Ben said that he could help me get my full Real Estate Licence Class 1 in a 5 days as he could get me approved via recognition of prior learning RPL whilst I finished his course."
I said "that would sounds great, I'll get back to you."

After the phone call I checked his website out 'Terms and Conditions' https://buyersagentinstitute.com.au/terms-conditions/ and read the following information.

"The Buyer’s Agent Institute does not provide or pay for real estate certification or licenses in Australia. The Buyer’s Agent Institute is not a registered training organization (RTO)."

I decided NOT to take his course after I found that out.

Just in case your interested he said his course cost $5,900 + GST

Danny

 

What I have noticed about the graduates' that go through to opening their own buyer agency is that they are incredible marketers. Which is Ben handlers special talent. He did amazing things as the marketing brain behind Cohen handler and now he is passing all that knowledge onto his graduates. To be honest, I think a lot of established advocates could learn a thing or two from the course on the marketing front.

We certainly have had to up our game in that department due to the exponential increase in new advocates advertising on socials.

Graduates are taught (rightly so) to do their competitor analysis and choose a niche. Which means they look at (and sometimes call posing as potential clients) established advocates to look at their IP and websites. This leads to them using language that makes them appear knowledgeable BC they regurgitate what established advocates advertise.

The really unfortunate thing about this is that now every single buyers advocate looks and sounds the same. When skill sets are in fact vastly different. Absolute beginner buyer agents have outstanding marketing that gives the appearance of a knowledgeable advocate. This causes a lot of risk to consumers if they don't know what questions do ask to determine genuine experience.

Marketing is King. (Many) People buy what ever is being sold/told to them..

There have been some outstanding new comers enter the industry who have done the BAI course too. So not all newcomers are equal. The difference is usually the vast amount of property experience behind the graduate vs those with absolutely none.

Over 650 have gone through the course to date. I estimate there's a 10% success rate.

You can't do this job (well) while working a full-time job elsewhere. You can't fast track your knowledge and experience without either being supervised and going through a 2 year apprenticeship.

I sadly see and hear of some catastrophic mistakes being made due to lack of training, experience and mentorship. They are basic 101 mistakes which would never occur if working in established business with good processes and mentorship.

For those who truly feel called to advocacy I would recommend getting work experience and mentorship in a busy office so you can get a lot of practical experience under your belt. If you want to run your own business after that, then go out on your own and carry the risk and the reward.

If you can get yourself into a great company and work your way up to earning 40-50% of the commission share then you will end up doing the job you love, without the other aspects of running a business and always have support and guidance around you. A good friend of mine who is a gun advocate earns about $600k per year as an employee. He's got 20 years industry experience. It's not realistic to do that volume without great support, processes and structure behind you or experience. You can't carry that many clients and do the job to the standard you need to without a lot of experience behind you (and support staff)

The hidden costs of setting up are approx $50k.
You will make approx 20-30% profit in a good year. You will be pulling equity out of your investments to pay your staff and overheads during a down turn. Unless you've saved about $200k-$400k to cover you when the market turns.

If it's your passion and you are diligent dedicated and not afraid of hardwork, you will do well and you'll enjoy it. If you think it's an easy way to make money, it's probably the hardest way. It's not the best business model out there unless you have add on services.

 

Agree with @Lisa Parker as per above and so very true from someone like Lisa who's been in this industry for an extensive period (as have I) You certainly can't fast track your theoretical knowledge and this is very concerning that a professional in this industry is supporting an accelerated NSW full licence course in a mere 5 days....

I feel there's more to the story however @Danny McPherson, as indicating that you would be eligible for RPL usually denotes experience in the RE industry.
Have you worked in the RE industry or an affiliated industry with similar skills?
Curious to know why he recommended RPL as this is usually only offered to candidates with either a (potentially redundant ie: further back than 2 yrs) RE history or very similar skillset in a workplace environment. See REINSW eligibility here which requires third party/employer verification:
Real Estate Recognition of Prior Learning (RPL) - Fast Track Assistant Agent, Licence and Diploma Courses NSW

For what it's worth, I think it's fantastic that our regulator has upped the standards and now requires higher training and more experience before operators can go out on their own in the RE industry, buyers agents included. Given that we are handling the process of what is often the single largest transaction most of us will make in our lifetimes (buying or selling property) it's vital that we are appropriately trained, prepared and equipped to deal with the complexities of the job.

I think it's also important to note that, without a Class 1 Licence (Diploma qualification) and the relevant experience you cannot run your own agency as a LIC under the new licensing changes.

The complete RE "Certificate IV in Real Estate Practice" required to become a Class 2 REA (which will be what most agents will now or soon hold within 4 yrs as DFT has made it mandatory to progress to a Class 2 licence within 4 yrs of obtaining your Cert of Registration) is actually made up of 13 units of competence, and even doing it online through a quality RTO (registered training organisation) will usually take a minimum of 6 mths now, as there are assessments for every cluster (approx 7 clusters). Obviously this is on top of the 5 units required as a pre-requisite for the Cert of Reg (now called the Assistant Agent course) so 18 units in total. Refer to REINSW's website as one of NSW's RTOs for more info here
Real Estate Licence Course. CPP41419 Certificate IV in Real Estate Practice


At approx $3,500 to complete all 18 units for the current NSW Licensing course and obtain an actual qualification (with workplace experience under a LIC) it makes sense to learn the theory and skills first before embarking on a marketing course if you ask me

 

I wasn't too happy about that change, for many the 3 units was sufficient for their support roles with no compulsion to work up to a licence but for those dealing with sales, business development roles etc it is a good move.

 

It does seems you missed some crux and should have dug deeper.

What many miss here is that most who join are passionate about property. Many have achieved something and are positive they would progress through.

I have always been hearing on the forum otherwise. Each to their own.

Cheers

 

Hey Luke!
I know you posted this a while ago but wanted to see how things are going now? I'm looking at becoming a buyer's agent and doing this course. I'll have to complete the REA course first.

Does Ben's course give you how to find great properties and what the rental prices and capital growth etc will look like to present to clients?

I'm originally from Adelaide too!

Nat

 

You might

You might to get some successful runs on the board as a property investor yourself before charging people a lot for this service as an expert. Its like the abundance of 23 year life coaches out there in the market place.

 

I thought about becoming a life coach but I am over qualified.

 

Those can't do, teach.

So..... those can't live, life coach?

 

The pandemic delivered a surplus of life coaches and essential jobs can’t be filled, go figure. The new norm to coach by Zoom made the barrier of entry lower than ever too.

 

Yep. And then if you are still keen seek experience working for another company for several years. The experience is required prior to legally obtaining a class 1 licence.

 

Not necessarily.


Regards