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Can you explain what a "Buyers Agent" does??

Discussion in 'The Buying & Selling Process' started by Darlinghurst Boy, 7th Jul, 2015.

  1. Darlinghurst Boy

    Darlinghurst Boy Well-Known Member

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    Darlinghurst Sydney
    i never really heard of buyers agents before I came on this forum.
    I have spoken to workmates who also were clueless.

    What is their role? When are they useful?
    What are their charges roughly?
    Are they good for regional properties too or they only interested in expensive city properties?
    Whats your experience with them?
     
    Last edited: 7th Jul, 2015
  2. wombat777

    wombat777 Well-Known Member Premium Member

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    I used a BA recently to buy in Brisbane. I don't have the time to source properties myself. They handled most of the legwork for me. They also did the initial location analysis for me on a shortlist of areas I was interested in investing in, although did provide guidance on areas.

    In my experience charges are in the $5k to $8k ballpark for cheaper properties. I spoke to a number of BAs before selecting one. Some charge more based on the value of the property or if you are looking for a development site. BA fees for regional areas may be cheaper.
     
  3. Propertunity

    Propertunity Exclusive Real Estate Buyers Agent Business Member

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    NSW
    You can get most of your questions answered by visiting www.rebaa.com.au
    Have a poke around the site - there is lots of info there.
     
  4. Big Will

    Big Will Well-Known Member

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    1. To source you a property you are interested in, useful if you do not have the skill set, location is not in your area or expertise and/or if you are time poor.
    2. Depends on how involved and the type of property (development?) - they can be from a couple 000s to 10,000+
    3. Yes they can do regional, high end and a small 2 bed unit in a city, whatever you want!
    4. Haven't used them, I feel I am good at negotiating (I was also a REA before) along with being involved in my own property portfolio. In time I may use them once I build a big enough portfolio and I really cbf sourcing property and just want them to come to me with x property and I can make a decision but for now I am happy to trawl through listings (including notifications) and pick what I am interested in.
     
  5. Steven Ryan

    Steven Ryan Mortgage Broker Business Plus Member

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    Short definition: They provide leverage.