I am new to property investing and am looking at buying my first IP. I'm not sure if I should use a buyer's agent to help me buy a property - does anyone have any opinions on this?
I have done a lot of reading over the last two years and I have read books from people who have similar thinking to mine; two of these people act as buyer's agents. Therefore I am confident that they will pick an asset that will suit my needs.
The pros I see are:
- reduces risk due to my lack of knowledge (I will be buying interstate in Brisbane based on the research I have done, but I know nothing about the areas to buy). BA will know the area and know what is fair value for a property.
- Can learn along the way the ins and outs of what to look for in a property / negotiating tactics etc.
- Can leverage off the buyer's agent's connections in the industry - can potentially get an off market purchase from a motivated seller
The cons I see are:
- Have to shell out between 8-15k for the BA fee (although I see this as a good investment)
- May not learn the skills needed to do it well myself (teach a man to fish etc.)
Does anyone have any thoughts / experience with using a BA or any advice to offer?
Cheers
I have done a lot of reading over the last two years and I have read books from people who have similar thinking to mine; two of these people act as buyer's agents. Therefore I am confident that they will pick an asset that will suit my needs.
The pros I see are:
- reduces risk due to my lack of knowledge (I will be buying interstate in Brisbane based on the research I have done, but I know nothing about the areas to buy). BA will know the area and know what is fair value for a property.
- Can learn along the way the ins and outs of what to look for in a property / negotiating tactics etc.
- Can leverage off the buyer's agent's connections in the industry - can potentially get an off market purchase from a motivated seller
The cons I see are:
- Have to shell out between 8-15k for the BA fee (although I see this as a good investment)
- May not learn the skills needed to do it well myself (teach a man to fish etc.)
Does anyone have any thoughts / experience with using a BA or any advice to offer?
Cheers