I know its typically how long is a piece of string. However what would you consider a base wage for a BA ex commissions? Junior BA just starting out more specifically. Kind regards,
I'd be interested in hearing from a BA on this. I'd guess that a BA earns about $8000 per property bought. It's my understanding that a BA can't and nor would they, take on a customer that would compete for the same property of an existing customer. I can't remember how long they have to find a property, but from memory it's quite some time. My point is that I don't think it's like you could have unlimited customers. I also wonder if buyers look for some sort of track record or testimonials of the buyer's agent, so maybe it's difficult at first. If it was easy money I think more would do it, so I'll guess around 40k starting out and 120k plus for those established with a good reputation.
Wonder if they make most money by using the wisdom gained from their day job to build their own portfolio. Most of us dont get to research the market, build contacts with agents, develop negotiating skills, pick up off market ppties and learn from your clients mistakes etc as a full time occupation.
Depends on business model. Some go low yield, high volume or some go low volume high yield. The big Buyers Agencies particularly the national buying brands like dashdot I hear make like 1M a month. Others do around 18-25 purchases a month charging between $10-15k. a solo BA can make over 100k with roughly 8 clients charging 15k
Dashdot $1M a month sounds a lot...that`s flipping 67 properties a month @ $15k comm each, 2 settlements per day.
A BA who is self employed keeps their whole fee (excepting GST) but will have outgoings and needs to manage capacity so they can service present clients. A BA in a larger team as a employee may find a heirarchy to who gets what. eg $1500 per settled property PLUS base salary. Its like in real estate agencies. The comms get split with the listing agent, principal(busienss) and the selling agent. If you worked for a BA they may structure it so you get XX% and it certainly is not 100%. Some commissioned staff may also play debit / credit with comms and salary so the base salary is always an advance. They typically get a higher comm per property
Yes. However I suspect that mortgage brokers could be about to really make a difference since refinancing when rates rise may be one of the few ways to avoid cashflow pain. But some borrowers who are already on the rack may find they have no further options
In a hot market I imagine they'd be doing better too. I know one personally and he closes 3-4 deals a week charging around $15k a pop, obviously that's not all profit though.
This Just like every industry, it varies depending on how big or small you are, if employed or on contract, how much business you bring in and what your remuneration is. There is certainly no "average" base wage though the minimum rates for a real estate worker are to be found in the Award. As a BA starting out you are classified exactly the same as a REA (under same licence category) See Award here Real Estate Industry Award [MA000106] - Fair Work Ombudsman