Hi there, just joined and hoping to gain some insight into investing in property. Have dabbled to date. Initial question ....... what is the advantage of a buyers agent, and how much do they cost?
Welcome Nice user name Plenty of posts on the pros of using a BA - most that I know of charge a flat fee (anywhere between $6k to $10k) but some charge a percentage of the purchase price. Perhaps look for a recommendation for one in the area you're looking to invest and then ask them about their fee structure. Cheers Jamie
Advantages (IMHO) - (1) They focus on 'the numbers', and take all the emotion out of buying (2) They are likely to have access to research resources that the average buyer is not likely to have (3) Some real estate agents have great relationships with BAs, and will let them know of properties hitting the market, before the general public gets a chance to see/buy (4) They can use their experience and expertise in negotiating (5) They do all the work - with both the IPs my BA purchased for me, I got a phone call saying "I've found your property", and then they passed on all the details. I could have turned the properties down, but had no need, as they ticked all the boxes. (6) Great for interstate purchases - the laws/conditions etc can be different in each state, so having someone who knows what they are doing can really help For the money I paid, I think I'd use my BA every time - she saved me soooooo much time, and I couldn't put a price on the value of her knowledge.
