Buyers Advocates.... Peoples Opinions?

[Sabitor_84]

Hello All,

First post, here goes!!

What does everyone on this forum think of buyers advocates?

I have two IP's both in frankston and we (partner and I) have used the same advocate for both transactions.

First place was in the $350k range in south frankston and second was $200k range in the north.

Before we engaged our advocate the first time we spent about 6 months looking, during the "hot" time of the market when properties would list on the tuesday and sell on the wend. Come the weekend, when we could look all that was left was crap.

Any ways, the first place our advocate showed us was by far the best we had seen so we purchased.

The second place (12 months later) was even better. It was a morgagee sale which hadant even hit the market yet!! It never appeard on any online listings or papers etc..

I can not sing the praises of our guy any higher but i often wonder what others are like???

Has anyone had any bad expereinces??

Also does anyone know of any **good** advocates which deal in lower end properties outside of frankston (in melbourne)?

Our guy is fantastic but we have 2 in frankston and may look to spread our eggs so to speak on the next one.

Look forward to everyones comments .

Kind Regards,

Matt

 

[Sabitor_84]

Anyone care to comment?

 

[Kristine..]

Hi Matt

Welcome to the Forum

Happy to comment but on what?

You have said that you used a 'fantastic' buyer's advocate who helped you buy well.

That's what buyer's agents are meant to do - earn their fee by doing a good job for their client.

A Mortgagee Sale is usually meant to go to Auction, so not sure why the property would be sold prior to an Auction but that's another matter

Glad to hear that you had two happy experiences

Cheers

Kristine

 

[Propertunity]

Anyone care to comment?

Well I'm glad you had a good experience with your BA in Mel.

I think most BA's would be professional....and for what it is worth will take a property brief from you and try to locate a property or properties that fit your requirements.

If you go to realestate.com.au and click on Buyers Agents and then in the map, on the State you are looking in - you will get a wide selection. Read their web-sites, talk to a few and see if you like them.

All the best with it.

 

[turk]

Hi Matt

Welcome to the Forum

Happy to comment but on what?


Cheers

Kristine

Kristine

Perhaps Matt was looking for comments on the following,

"I can not sing the praises of our guy any higher but i often wonder what others are like???

Has anyone had any bad expereinces??

Also does anyone know of any **good** advocates which deal in lower end properties outside of frankston (in melbourne)?

Cheers

Pete

 

[Sabitor_84]

Hey Guys,

Sorry for the confusing post. The start probably had some irrelavant info in there but i included it as it was my first post.

Basically wanting to know if anyone has come had any bad experiences with advocates?

&

If anyone knows of any which specialise in lower end properties outside of frankston?

Thanks in advanced.

Matt

 

[Peter Parker]

Basically wanting to know if anyone has come had any bad experiences with advocates?

Make sure they (i) know the area and (ii) know what style of investor you are and the sort of properties that could appeal. Otherwise they could suggest unsuitable properties.

Note that most of the high-profile ones seem to be inner-city (as that's where the largest commissions are to be found and where property prices vary most) and their expertise and knowledge regarding suburbs like Frankston can range between absent and ill-informed.

Also be wary about ones that stray from buyers advocacy to investment strategy and advice since some can talk beyond their expertise and recommend stupid things like selling a perfectly good property portfolio in an area they don't happen to like personally.

 

[mickcur]

Basically wanting to know if anyone has come had any bad experiences with advocates?

Yes. I engaged a BA. After several weeks of no recommendations, I suggested a property to the BA I had been watching on RE.com for those several weeks. I asked him to check it out. He said "perfect property" (it's not, by a long shot) Duffus me decided to buy. BA didn't negotiate 1 cent off the asking price, and charged me $10k for "finding" my IP. Result? Duffus me paid $10k MORE for a property I found. Maybe the $10k was for faxing me the contracts or something...

 

[jaimeandrenee]

Buyer bewaRE DO OWN DUE DILLIGENCE......

 

[Sabitor_84]

Yes. I engaged a BA. After several weeks of no recommendations, I suggested a property to the BA I had been watching on RE.com for those several weeks. I asked him to check it out. He said "perfect property" (it's not, by a long shot) Duffus me decided to buy. BA didn't negotiate 1 cent off the asking price, and charged me $10k for "finding" my IP. Result? Duffus me paid $10k MORE for a property I found. Maybe the $10k was for faxing me the contracts or something...

Not sure of the forum rules but do you care to name and shame this particular advocate?

If it was me i probably wouldnt have bought the property you found and instead cancelled the agreement. Wait the 6 week cooling off and start again.

Thanks everyone for the comments .

Matt

 

[Y33]

If using a BA be very specific about what you are after, why and your plans. The more information they have the easier it is for them and you

A good BA will have connections with various RE, developers, lenders who will let the BA know if something that suits your needs comes along. Also make sure they are area specific. Far better that the BA specializes in only a few areas.

You can always ask them for testimonials or references from current or previous clients.

In my situation my preference is Darwin but only for OSFI purchasing new properties and only by referral.

 

[Sabitor_84]

Hey Guys,

Thanks for the replys.

Im toying with the idea of buying in either frankston again or geelong. Geelong only in the idea stage with no real research YET. Can anyone recommend an advocate for geelong?

Once again i appreciate the responces

Matt