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Who is the BEST buyer's agent in Melbourne

Discussion in 'The Buying & Selling Process' started by Kai41314, 21st Sep, 2015.

  1. Kai41314

    Kai41314 Well-Known Member

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    Hi,

    I am searching for the BEST buyer's agent in Melbourne. Can anyone let me know who is the BEST?

    In addition, I found three Melbourne buyer's agents below. Have anyone engaged with them before? Welcome public or private messages.

    1. Empower Wealth
    2. Buyer Solutions
    3. National Property Buyers – Victoria

    Thanks,
    Kai
     
  2. Jingo

    Jingo Well-Known Member

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    You could add Wakelin Property Advisory. They specialise in property within 10km of the CBD and have a growth orientated approach. (I've never used them, but they write regularly in the media and have been around for years). https://wakelin.com.au/
     
  3. D.T.

    D.T. Adelaide Property Manager Business Member

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    What about the folks at Qura?
     
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  4. Jacque

    Jacque Buyers Agent and Bookworm, Sydney Business Member

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    Hi Kai

    All BAs specialise in particular areas so it's important to sit down first and work out the parameters of your search, including your goals, budget, preferences etc. Once you know where you're buying check out the BA sites to find out the level of experience in these areas/suburbs, ask for references of recent clients etc. There is a good starter guide on the REBAA website here http://rebaa.com.au/how-do-i-choose-a-buyers-agent/

    It's important that you talk to/interview those BAs you shortlist, to see who it is you feel most comfortable with and trust to act on your behalf. It's a big decision and not one to be taken lightly. Also remember to ask the BA how many clients they take on per BA and how they avoid conflicting briefs of clients with similar budgets/search criteria. Each search should be an individualised brief, catering to your needs and preferences. The BA can then assess if they're able to assist or perhaps help with a recommendation of another BA.

    All 3 you've mentioned above are REBAA members which is a great start - best of luck with your search :)
     
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  5. andrew_de_a

    andrew_de_a Active Member

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    What area are you looking at?
     
  6. tobe

    tobe Well-Known Member

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    Advantage property consulting
     
  7. Kai41314

    Kai41314 Well-Known Member

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    Not sure what area yet. Could be south, north or east. That is one of the reasons I want to find a BA (location analysis). Budget is about $850k.



     
  8. Kai41314

    Kai41314 Well-Known Member

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    Thanks Jacque! By the way, what is the difference between REBAA members and REIV members?



     
  9. larrylarry

    larrylarry Well-Known Member

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    That's a huge budget. 2 or 3 IPs?
     
  10. MsAli

    MsAli Well-Known Member Premium Member

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  11. Peter_Tersteeg

    Peter_Tersteeg Finance broker and strategist Business Member

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    I'll second that nomination. I've know Lisa for years, she's great and has consistently found better deals than most of the larger BA firms that I've dealt with.

    For what it's worth, the businesses that win various awards tend to do so because they have larger marketing budgets than the others. Certainly an award indicates that you're doing something right, but it doesn't mean you're the best, it just means you've got a lot of clients and get get them to vote. Most purchasers don't use multiple BAs so they have no way of comparing one over another.

    Incidentally Lisa was recently nominated for the Telstra Businesswoman of the Year award.
     
  12. House

    House Well-Known Member Premium Member

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    As mentioned, choosing an REBAA BA is a good start as they are experienced, do not sell RE, need to provide client references and have sufficient insurance cover.

    Interview at least three BA's and ask for references (naturally you'll be given the best ones) and ensure they are a good fit for your budget and strategy. Medium and long term goals should be discussed so they know which direction you want to go.

    Cate Bakos is based in Yarraville and have heard good things about her.
     
  13. Ace in the Hole

    Ace in the Hole Well-Known Member Premium Member

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    How much is the engagement fee for a buyers agent?
    $1,500 bucks or so?

    Why not engage 2 or 3 BA's concurrently if buying for 850k.
    That way you will almost certainly get the best result for a few k extra.
    You'll only pay the full fee on the winning BA.

    Is there any rule against this?
    It may be taken as unethical, but this is the real estate industry.
    You want the best result you can get.
     
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  14. Jacque

    Jacque Buyers Agent and Bookworm, Sydney Business Member

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    You will find that the overwhelming majority of BAs have exclusive agreements with their clients and so engaging two BAs at once may well cost you two full success fees (and retainers) instead of one :D
    Not sure you'd want to risk this and, besides this, it really sends a message of distrust to any BA you hire that you don't believe they can do the job you've hired them for...
     
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  15. Jacque

    Jacque Buyers Agent and Bookworm, Sydney Business Member

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    Hi Kai

    REBAA is an association made up only of independent buyers agents. Members do not sell real estate. REIV is predominantly sales agents and property managers, however I'd be certainly looking for BAs who are members of both as a first preference.
     
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  16. Antony Bucello

    Antony Bucello New Member

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    Agree with Jacque's comments
     
    Last edited by a moderator: 24th Sep, 2015
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  17. Peter_Tersteeg

    Peter_Tersteeg Finance broker and strategist Business Member

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    Exclusivity agreements aside, somehow I don't think this will get you the best result. More likely they'll put their more serious clients interests ahead of yours and all you'll see is the left overs. If you want to be taken seriously by a service provider, you need to treat them seriously as well.
     
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  18. Ace in the Hole

    Ace in the Hole Well-Known Member Premium Member

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    All points taken and it was only a theoretic situation.

    However, how could the BA know you are not a serious client?
    It would be unknown to the BA what other activities and other consultants the client employs in their ventures.
    As a professional service provider, it would be expected that you give each and every client your absolute best efforts, isn't that what they are paying for?

    Unfortunately, lack of service from proven providers does happen from time to time, rarely does a provider have immaculate 5 star reviews for their entire history.
    That is why it's always preferential to pay for results, rather than potential results.
    Those who bring the best results should be rewarded accordingly.
    But business is business, and we all know marketing can heavily influence a clients decision, even if the provider is not generating the best results for the client.
     
  19. Antony Bucello

    Antony Bucello New Member

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    I would say the best buyer agents demand exclusivity, just like the best selling agents do. Should clients want to appoint a number of different buyer agents, that is fine, but I personally would not take them on as a client. Clients need to feel completely comfortable with the agent they have appointed. If they are hesitant, it's probably not the right agent for them.
     
  20. Xie

    Xie Well-Known Member

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    I used Cate Bakos and she was great! Got me an IP in a great area well under one in the same complex 6 mths earlier. Her negotiating skills definitely saved me money and I feel confident that I have a good investment. Obviously you still need to do your own dd but she also has a wealth of knowledge that saved me months of work. I highly recommend her.
     
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