Buyers agent

From: Steve B


I'm considering buying my next property though a buyers agent.
The SAID deal is, He negotiates a price from a builder, developer or vendor(discounted??)and takes 40% of what he saves me.
Has anybody had any experience with this type of deal before???
Regards
Steve
 
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Reply: 1
From: Always Learning


I would be very concerned about such a deal.

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He is taking 40% of the "savings" correct?. These savings are compared to what? The price you could negotiate yourself? Or the "list" price?

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Normally the BAs I have spoken with want 1~2% of the price. I personally think I can negotiate a good deal once I have located a potential IP. For me the real advantage of a BA is that they spend 100% of there time finding good deals, getting known by the agents, maybe they are phoned by agents when good deals come up...that's the BA's real advantage IMO.

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<td rowspan="4">

image-display


</td>

<td colspan="2" align="center">

<p align="left">Investment Laws</td>

</tr>

<tr>

<td align="right" >1st Law:</td>

<td>"What ever you don't invest you forfeit."</td>

</tr>

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<td align="right">2nd Law:</td>

<td>"What ever you reap is what you've sown"</td>

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<td></td>

<td><p align="right">Jim Rohn;</td>

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W

WebBoard

Guest
Reply: 1.1
From: Day Dreamer


Hi Always Learning,
I am interested in where I can download the dancing man in your reply and how do you attach it to the email.
Wai
 
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Reply: 2
From: Manny B


Hi Steve,

40% commission on the hypothecial saving is too high... if the builder uses RRP like car yards, you may get the property $30,000 off that price (not $30,000 off market value, as the RRP is not the market value)...

Now 40% of $30,000 is $12,000 commission to them for hooking you up with the builder, which I personally find excessive... I would do the running around myself OR negotiate a more reasonable commission...

Cheers,

Manny.
 
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Reply: 1.1.1
From: Owen .


That's not just any dancing man....that's the great Eric Morecombe.

Show some respect!!!!


Owen

"Gambling promises the poor what property performs for the rich – something for nothing"
 
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Sim

Administrator
Reply: 1.1.2
From: Sim' Hampel


Right-mouse click on the file and select "save picture as..." from the menu to download it straight from the forum ! You can do this with any graphic file on any web page.

But if you want to include it in a post - but please don't - it wouldn't be very original ! ;-)

... you don't have to download it... just enter the following as part of your post:

<img src="http://www.photo.net/photodb/image-display?photo_id=578647" width="44" height="75">

which gives you this:

image-display


You can do this with any graphic file that is on a web server somewhere...

tb-logo.gif


sim.gif
 
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Reply: 3
From: Ross Sondergeld


Hi Steve,


Subject: Buyers agent

Steve B WOODY said, "I'm considering buying my next property though a buyers
agent. The SAID deal is, He negotiates a price from a builder, developer or
vendor(discounted??)and takes 40% of what he saves me.
Has anybody had any experience with this type of deal before???"


I little unusual... I've never heard of a buyer agent in Australia or the US
charging this way. Essentailly, your buyer agent should give you the
relevant sales info to estimate market value. Then the buyer agent should
negotiate to get the lowest price. I'd recommend that you pay them a flat
fee ($?,000) or a percentage to negotiate (say 1%)...

or the x% +10% or -10% method

i.e. set the base price between you and the buyer agent. (i.e market
value). Then the buyer agent gets an extra 10% for each additional dollar
they save you under MV. (Or loss 10% off their fee for anything above the
base market value price.)


Just an idea. Buyer agents can charge heaps of different ways.

P.S. But beware of the seminar guys saving you money... A lot are trying to
be PRETEND buyer agents, when they're actually seller agents.


Ross Sondergeld ~ Buyer Agent

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
" Imagine buying real estate the easy way...
...with a Buyer Agent on your side!!! "

Buyerside Real Estate Mobile 0412 289 464
Office 9b, 34 Glenferrie Drive Office (07) 5562 1555
East Quay Corporate Park Fax (07) 5562 1248
Robina QLD 4226, Gold Coast Buyerside@hotmail.com
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~


_________________________________________________________________
MSN Photos is the easiest way to share and print your photos:
http://photos.msn.com/support/worldwide.aspx
 
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Reply: 3.1
From: Robert Forward


Hi Ross

A Question for you about this part of your message.

P.S. But beware of the seminar guys saving you money... A lot are trying to
be PRETEND buyer agents, when they're actually seller agents.

It is illegal for a sellers agent to do this isn't it?

Cheers
Robert

The Sydney "Freestylers" Group Leader.
 
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Reply: 1.1.2.1
From: Paul Zagoridis


Sim!

I thought we went through this months ago.

I can't object to small <2K gifs but folks going above that slows the forum down for people on slow links (and my work link is slow enough as it is.

Newbies please show a little restraint on the size of the files. Also in future you linked URL will move. That leaves gaps in the archives as the link times out.

For the record the dancing dude is 10,938 bytes

Paul Zag
Dreamspinner
The Oz Film Biz site is archived at...
http://wealthesteem.dyndns.org/
 
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Sim

Administrator
Reply: 1.1.2.1.1
From: Sim' Hampel


I do agree Paul, which is why I went to considerable trouble to ensure that my graphic file was only 624 bytes in size - smaller than the text of most of my posts ! ;-)

I personally think that the dancing dude is a little too big in download terms (even taking web browser caching into account), and definately far too distracting.

However, I do reserve the right to answer people's technical questions, regardless of how they then use that information !

sim.gif
 
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Reply: 1.1.2.1.1.1
From: Paul Zagoridis


Oops! My post was supposed to come across as light and mildly frustrated.

Please keep giving technical advice. Especially when it does lead to explosions of animated GIFs (how else will people learn how irritating they can become if they don't experience it regularly?). ;-)

Regards

Paul Zag
Dreamspinner
The Oz Film Biz site is archived at...
http://wealthesteem.dyndns.org/
 
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Reply: 3.1.1
From: Asy .


Yes, Rob,

It is illegal (Certainly in Vic) for someone to get a commission (or fee) from both sides in the transaction.

It is also technically illegal for the agent to pretend to be working for the buyer (and get a commission from them), when he is actually in some sort of relationship with the vendor.

asy


"Don't forget what happened to the guy who suddenly got everything he ever wanted...
He lived happily ever after.
(Willy Wonka).
 
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