Who is the BEST buyer's agent in Melbourne

Hi Ace, Actually in this scenario you would be liable to pay all the buyers advocates who you signed up with under the standard REIV authority. There is no rule against doing it, however you would be up for 2-3 lots of Buyers Advocates fees if you did do it this way.

 

Thank you
@Peter_Tersteeg and @MsAli for your recommendation.
I appreciate the shout out!

@Kai41314, I have sent you a PM! I look forward to further discussions

 

Hi @AlexH , I wanted to clarify something that tends to be stated here on PC which is misleading to consumers.

Naturally every industry body wants to advertise that their industry body is the one that consumers look for their professionals to be a member of, however professionals are not usually going to choose all that are available, rather the one they believe offers the most value for their membership money.

In Melbourne in particular it is important to understand that there is another industry body. The REIV which has a dedicated buyers advocate chapter which has over 70 members and a very active CPD program and education program, currently not offered, as far as I am aware, by any other industry body for buyers Advocates.

I do not believe that consumers should be educated to choose a member directly from a certain industry body, especially if they are not in a position to decide which industry body it is better to be a member of.

I agree with your points on what is a good thing to look for in a buyers advocate. For example, All buyers advocates should not sell real estate, they should have insurance and be able to provide references or case studies to prospective new clients.

They do not need to be a member of any industry body to do this, and even buyers advocates who choose NOT to be a member of any industry body should still be considered by prospective clients. Perhaps they gain their professional development in other ways and do not see the value in paying $1,000's just to have a sticker that says they are a member of something.

 

Hi @Kai41314

Different agents might be better for a particular client depending on the client circumstances. For instance, a client with a budget for a $350k spend might not be suited to recruiting a BA that specializes in high-end property. It's also important that the BA understands the complexity of the purchasing entity. For instance, if the property is being purchased inside a SMSF (Self Managed Super Fund) you can run into strife if the BA is not overly familiar with the structure of the SMSF, compliance issues it faces, and the different financing process it faces from the norm.

 

@Lisa Parker- Buyers Agent buys for investors only..so that could be a good start.

Difference between REBAA and REIV, to best of what I understand..

REBAA is self regluated association with focus on buyers agent only
REIV - covers broader range of real estate professionals and have greater voice at lobbying.

There will be dozen of other differences between two.

Choose an Agent who;

Answers a phone
Prompt in replying to your query
Has sound knowledge of area/pocket
Has invested in market
Check reference with past/current client

And enjoy the ride!!

 

Completely agree with this. Although I respect REBAA's efforts to create trust with consumers, we already have a body that does that through the REIV and the REIV actually gives back more than just a logo on a website. We have 70+ members who all regularly attend meetings to discuss industry news and updates whereas REBAA's member meetings are based in Sydney, once per year...

Sorry @Jacque , I find REBAA's value proposal for BA's in Melbourne weak right now, perhaps you could convince me there's more bang for the $1000+ per year than a logo on a website.

 

Not true, so just to correct this - REBAA's meetings are held in Melbourne, Sydney & Brisbane a few times per year and organised by the State Reps. The annual REBAA AGM/Conference will be held in Melbourne this year as it so happens, but has been held in Sydney, the Gold Coast and Melbourne in previous years.

 

Just to clarify, my comment about some people not seeing value in paying $1,000's to say they are a member of something is not directed at any one particular industry body. It was a general statement about many professionals simply not seeing value in memberships across many different professions.

I am a friend of REEBA and think they have done a great deal to educate the public about our profession.

 

Well maybe I need to have another chat with Jacque to be convinced that their fee has more value than I thought it did 2 years ago. Happy to have my mind changed but for now it's of the opinion that the REIV is the best industry body in this state and buyers should consider members of this group first and PIPA / REBAA etc after that. Fair statement?

 

There is a benefit and a place for industry bodies, but telling a consumer to make sure their professional is a member of one over another is not one of them. It is in the work they do behind the scenes to;

- Better the industry practices as a whole
- lobby government and assist in getting beneficial legislation passed
- Give consumers an avenue for feedback and complaint handling
- Set a code of ethics and set procedures in place for monitoring them
- Set minimum standards for their members to uphold
- Communicate with media and release relevant information to the press/consumers
- HOPEFULLY - set up programs that help to improve the education and continuing professional development of an individual in their chosen field
- support individuals and companies within the industry to perform their role with more ease by providing services that support the business and provide opportunities to network and get access to data and information that is relevant to providing a better service to their clients.

I have had direct experiences with 2 of the 3 industry bodies mentioned and have witnessed all three work to clean up the industry, so by this standard, which one should I choose? Which one should consumers dictate I be a member of?

I don't think consumers are in a position to know which is best, and the actual industry body saying to look for their members is not an impartial recommendation. We, as professionals in the industry, are going to be better positioned to make that call. And some of us may prefer one, and others another.

 

There's nothing wrong, in my opinion, in joining the state REI and also REBAA. I find the REI quite good for legal advice, online forms and fleet discounts on new car purchases. But I also find them mainly geared up to help selling agents including their CPD training.
In the case of REBAA, it is obviously geared 100% to exclusive buyers agents. It is certainly smaller but able to provide BA agreement forms too and discounts on PI insurance etc.
We subscribe to both Standards of Practice & Code of Conduct/Ethics.
I'm sure @Jacque would be happy to discuss again with you Jake. A lot can change in 2yrs.

 

I think we are fortunate here in Victoria because we have access to everything you mentioned via 1 membership, rather than requiring 2.

I have heard that the REI's interstate are not as proactive on the BA front as Victoria.

 

The best buyer agent is the one who is able to translate & communicate complex real estate jargon to his client, as well as getting the property deal across the line.

In the early days of Victorian commerce and industry, we would have had a union. Now we have legislation, industry bodies and state-based associations. These groups combined help maintain the ethics and the standards in the industry are bound to by law.

 

Kai,
Talk to people who used BA service first.
Many in this 'business' can talk well. Convince you anything they want!
At the end of the day, a BA gets paid when a transaction happens.
My 2 cents

 

A guide to some well known faces who are buyers "advocates" in Victoria
Buyer’s agents who have appeared on The Block TV series - Buyers Agent Guide

 

Instead of starting a new thread (maybe I should later on..) but can someone recommend a Melbourne based BA for the eastern suburbs?
Any recommendations for those who have purchased in the Box Hill, Blackburn area is greatly appreciated.
This is for a PPOR
Feel free to PM privately.

 

BA in the main will source in certain areas/suburbs so they will biased, not sure how this will suit your strategy.

I would want to be identifying areas myself for potential growth, especially where we are now in this part of the cycle and due to what we are currently seeing with interest rates rising. Not saying don't use a BA, just stating get the right one, but then again you wont know unless you understand the market conditions.

MTR

 

Don't use Buyers Solutions. They just want to make a quick buy in this heated market. Some of the BAs are just too commercial and spend a lot in their marketing campaign but really do not provide good service. Some can be a bit arrogant like Cate...i think they have too many clients ...