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Haha Cheers Osc. Yeah those TV BA's are hilarious. Sitting in a nice cafe, waiting for a magical phone call to let the buyer know they've just bought on their first offer. That's the life ahhhh.
I also disagree that a partial licence is sufficient. Here in NSW (I know other states are different) whilst you only need the BA partial licence any BA worth their salt would have the full licence. Learning the sales and PM side of things is truly valuable, as well as the other modules including trust accounting (for when you may expand your business here) and small business practices.
what is your current business noodle?
Also, your PM said you'd call me... it's been a week and you haven't. As a BA you need to do exactly what you say you're going to do or people won't trust you with their hard earned coin. Also, as a BA if there's an opportunity you need to get on the phone immediately.
Appreciate that this is a bit of tough love; I want you to be a BA, it'll help grow our industry... but there is no half measure.
Hi Bigtone,
My primary business is a relocation agency for overseas nationals moving to Australia and is something I do not intend to give up as it is also very interesting and rewarding.
Clearly there is a direct synergy and whilst I could easily continue to refer on business, I thought I should least explore the option of getting my own BA licence.
I appreciate it is a lot of hard work, but still seriously considering it.
As far as licencing is concerned you need a full REA licence (if you're doing this alone) or at least agents rep certification. The BA is a module under the full licence but it only works if 1. your a certified agents rep and 2. you're working for a fully licensed practice.
Thanks Jake really appreciate the honest feedback
Re the PM lol. You sounded a bit like an ex girlfriend I once had for a second
In all seriousness though I actually spent most of Easter weekend with a BA friend who answered a lot of my questions, so apologies for not calling. Although I certainly know who to call if I have any VIC specific q's.
In NSW up until a few years ago you could do an abridged course and hold a restricted license allowing you to only buy real estate not sell it ie be a buyers agent. There was no need to hold a ful RE license or be suprevised but I think this was being transitione out. link to NSW fiartrading will answer it.
http://www.fairtrading.nsw.gov.au/Property_agents_and_managers/Qualifications/Buyers_agent.html
As to the part time thing ussually I would agree with your sentiments but I actually do know a very good BA who does 2 or deals a month. Just laser focussses on one area and does it part time Wednesday's and Saturdays and after hours. She is very good with areal passion for eal estate just doesnt want it to be a full ime gig. Started out just doing it for family and friends for free then started getting referrals etc so has been 100% organic growth.
It's no problem at all Noodle, I didn't mind that you didn't call but just wanted to point out how I thought it reflected your attitude.
It sounds like you're doing your homework which is great. I think you'll find if you did some work as a BA you'd like it more than your current business
As to the part time thing ussually I would agree with your sentiments but I actually do know a very good BA who does 2 or deals a month. Just laser focussses on one area and does it part time Wednesday's and Saturdays and after hours. She is very good with areal passion for eal estate just doesnt want it to be a full ime gig. Started out just doing it for family and friends for free then started getting referrals etc so has been 100% organic growth.
.......Other than licensing, relevant insurances, industry memberships, data subscriptions and time are there any other glaringly obvious costs I have not accounted for specific to being a BA? Bearing in mind I will be doing no marketing/website etc as this is purely to service existing clients.
I don't think you've missed any major costs.... except for 10 cafe latte a day
...and a new BMW hehehe...
I'm just wondering for the buyers agents out there, is most of your work from property investors who need local knowledge? What about home buyers who are moving into new areas and need help locating an appropriate suburb for their needs. I'm just wondering who your clients mostly are?
How on earth do you charge?
I'm just wondering for the buyers agents out there, is most of your work from property investors who need local knowledge? What about home buyers who are moving into new areas and need help locating an appropriate suburb for their needs. I'm just wondering who your clients mostly are?
It's generally a flat fee ($8-12k) or % based.
Cheers
Oscar