Buyer's Agent
- Thread starter jaspn
- Start date
Sorry- to clarify: Western Sydney and possibly Campbelltown.
Thanks Dave
(I have to post here as I can't kudos you anymore until I spread it around a bit more)
Hi Jas
For a more comprehensive list you can visit www.rebaa.com.au
We also cover western Sydney but only as far as Blacktown/Doonside area. Best of luck in your search.
For a more comprehensive list you can visit www.rebaa.com.au
We also cover western Sydney but only as far as Blacktown/Doonside area. Best of luck in your search.
Sim
Administrator
More specifically, have a look at http://rebaa.com.au/members/nsw/ ... lists all REBAA member Buyers Agents in NSW
How does REBAA give their members more credibility than other buyer’s agents? What are the process in place to make sure that REBAA members do the right thing?
(this is just a question... not an attack
How does REBAA give their members more credibility than other buyer’s agents? What are the process in place to make sure that REBAA members do the right thing?
(this is just a question... not an attack
Hi Devan
Good questions and best answered by reading the eligibility requirements and standards of practice on the site. In a nutshell, for BAs to be accepted by REBAA they need to carry PI insurance (not all BAs do, which is a larger risk for consumers) be practising as independent operators (ie: no selling of real estate) for a minimum period of 12 mths and adhere to the REBAA code of conduct and standards of practice. They also need to be endorsed by 2 other existing REBAA members and provide references of both recent clients and selling agents that they have done business with.
It is a national body, and Australia's only industry group representing BAs. Ensuring that PI insurance is in place with every member and agreeance of the members to adhere to the practices and code of ethics assists in providing comfort to consumers that they are dealing with professional and reputable BAs.
Hope that helps, Devan
Jacque
With all due respect....the REBAA is more likely to represent the interest of Buyers Agents as it is more of an industry organization. Very similar to the AMA.
Evidence has shown that such organizations are not likely to pursue any bad eggs in the systems agressively. It is like getting the Military to look at absuses...and indepdendent organization is a better point of reference.
From my point of view the Department of Fair Trading is a better reference point:
http://www.fairtrading.nsw.gov.au/f...d_managers/Rules_of_conduct/Buyers_agent.page
The also license Buyers Agents like Real Estate agents. To save frustration and more prompt attention...much better reference point and more impartial.
However, the REBAA is a good point to find SOME BAs...but not all. I will let you form your conclusion on that point.
With all due respect....the REBAA is more likely to represent the interest of Buyers Agents as it is more of an industry organization. Very similar to the AMA.
Evidence has shown that such organizations are not likely to pursue any bad eggs in the systems agressively. It is like getting the Military to look at absuses...and indepdendent organization is a better point of reference.
From my point of view the Department of Fair Trading is a better reference point:
http://www.fairtrading.nsw.gov.au/f...d_managers/Rules_of_conduct/Buyers_agent.page
The also license Buyers Agents like Real Estate agents. To save frustration and more prompt attention...much better reference point and more impartial.
However, the REBAA is a good point to find SOME BAs...but not all. I will let you form your conclusion on that point.
Hi Devan
Good questions and best answered by reading the eligibility requirements and standards of practice on the site. In a nutshell, for BAs to be accepted by REBAA they need to carry PI insurance (not all BAs do, which is a larger risk for consumers) be practising as independent operators (ie: no selling of real estate) for a minimum period of 12 mths and adhere to the REBAA code of conduct and standards of practice. They also need to be endorsed by 2 other existing REBAA members and provide references of both recent clients and selling agents that they have done business with.
It is a national body, and Australia's only industry group representing BAs. Ensuring that PI insurance is in place with every member and agreeance of the members to adhere to the practices and code of ethics assists in providing comfort to consumers that they are dealing with professional and reputable BAs.
Hope that helps, Devan
Sim
Administrator
Aren't you pre-judging them and making gross assumptions about the behaviour of this organisation without any evidence?
I don't think that's really fair sash ... judge them for what they do, not for what your pre-conceived ideas about them might be.
Yes, but aren't all BAs (in NSW) licensed with the Dept of Fair Trading in NSW?
A buyer's agent is required to hold a licence. You can do a licence check online at the Fair Trading website or by calling 13 32 20.
See: Using an Agent to Buy a Property
So, since the DFT has it's finger in the pie regardless, why wouldn't you use a REBAA member?
Jacque listed the benefits (PI insurance among them) and, ultimately, if the consumer is still not happy I expect they can still go to the relevant Fair Trading Dept.
That wasn't an attack...
But imo this post was....
Imo it is an often mis-used (or misinterpreted) term, "with all due respect", as this gem of a page says: Wiki: Do not say "With all due respect".
A buyer's agent is required to hold a licence. You can do a licence check online at the Fair Trading website or by calling 13 32 20.
See: Using an Agent to Buy a Property
So, since the DFT has it's finger in the pie regardless, why wouldn't you use a REBAA member?
Jacque listed the benefits (PI insurance among them) and, ultimately, if the consumer is still not happy I expect they can still go to the relevant Fair Trading Dept.
(this is just a question... not an attack
That wasn't an attack...
But imo this post was....
Imo it is an often mis-used (or misinterpreted) term, "with all due respect", as this gem of a page says: Wiki: Do not say "With all due respect".
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sash, I'll let Jacque resond to you in more detail, if she chooses.
It is quite wrong of posters to say that the industry is largely unregulated. It is VERY regulated - as you can see by the OFT links you posted.
One of the reasons REBAA was set up in the first place was to redress the imbalance of training available and best practice guidelines that applied to BAs. The Real Estate Institutes in every state, by and large, are geared towards supporting the training and behaviour of RE selling agents. [Although to be fair, the NSW REI does address this better than most other states these days, with its BA Chapter]. Remembering that BAs are representing the contractural adversaries of the REAs clients - so both the BA and the REA have different goals in the whole RE transaction. (BAs want to buy cheap, REAs are bound to get the highest possible price for the vendor, and so on)
When I was doing my BA licence, for example, some of the modules were completely irrelevant - like how to list a property, how to run an Open for Inspection etc.
REBAA is only for BAs and so it is able to focus much more of its attention on helping members do the best job for a client, that they possibly can. They vet applicants throughly and I have seen a number that would like to join that are turned down.
Hi Sash,
Just on the point of REBAA, I would say they are definitely valid to use for a credibility and reputation +1 and have a respectable barrier to entry in terms of anybody likely to be doing or have done the wrong thing won't be admitted in the first place. I considered carefully whether to join or not and am happy to continue being a member as they are trying to do the correct things for the BA industry's reputation and professional standards in Australia, my perspective on the matter only. I understand the AMA represent all doctors and students, so no barrier to entry? Though the point would still stand about the potential conflict of interest in terms of disciplining members of your own organization.
Regards,
Andrew
Just on the point of REBAA, I would say they are definitely valid to use for a credibility and reputation +1 and have a respectable barrier to entry in terms of anybody likely to be doing or have done the wrong thing won't be admitted in the first place. I considered carefully whether to join or not and am happy to continue being a member as they are trying to do the correct things for the BA industry's reputation and professional standards in Australia, my perspective on the matter only. I understand the AMA represent all doctors and students, so no barrier to entry? Though the point would still stand about the potential conflict of interest in terms of disciplining members of your own organization.
Regards,
Andrew
Do you have a split personality?
Well picked up.
Sim....judging by the comments i have received of some members on PM no....obviously...if they were allowed to post it would be shut down as it could be construed as defamatory. A clayton's arguments really.
Which brings me to my next question....aren't you supposed to be moderating? Not being smart but a valid questoin? N'est pas......
Mate....not an attack just bringing the balance back and providing the facts from what a indepdendent agency who regulates buyers agencies recommends. I also posted this...so people know where to take their grievances as this agency has more teeth.
I stand by my comments that buyers agents whilst neccessary in some instances are overcharging.
Lets ask the question.....if you were selling a 350k house out in Western Sydney...how much would you pay an agent. Typically it should not cost more than 8k (includes advertising). Why would you pay a buyers agent any more??
I can understand why the BAs are being defensive...because it is their livelyhood. Competition and regulation needs to happen so fees are reasonable. Buyers agents are no different. I hear this all the time in my industry IT as to how terrible outsourcing to India and the Phillipines is. Set-up right it works brilliantly. People need to get used to competition....no such thing as sacred cows.
Which brings me to my next question....aren't you supposed to be moderating? Not being smart but a valid questoin? N'est pas......
Mate....not an attack just bringing the balance back and providing the facts from what a indepdendent agency who regulates buyers agencies recommends. I also posted this...so people know where to take their grievances as this agency has more teeth.
I stand by my comments that buyers agents whilst neccessary in some instances are overcharging.
Lets ask the question.....if you were selling a 350k house out in Western Sydney...how much would you pay an agent. Typically it should not cost more than 8k (includes advertising). Why would you pay a buyers agent any more??
I can understand why the BAs are being defensive...because it is their livelyhood. Competition and regulation needs to happen so fees are reasonable. Buyers agents are no different. I hear this all the time in my industry IT as to how terrible outsourcing to India and the Phillipines is. Set-up right it works brilliantly. People need to get used to competition....no such thing as sacred cows.
Sounds reasonable...you put my point succintly...an industry organisation disciplining its own is not good governance.
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Hmmm....I don't like this as it is almost like a club...and open to abuse. Whatif I decided to set-up a buyers agency and went through all the processes and decided to apply to REBAA...do you think they would consider me...given that I have said that the charges are too much.
What I offered a disruption business model.....which would cause BA fees to drop....do you think I would be approved by REBAA on my merits??
I am not saying that REBAA will do this....but can you see my point?
Have a look at the banks...they seem to have unsaid...way of pricing things. Same goes for Oil companies. The classic is ABA (Australian Banking Association) defending the banks. Do you think there is any independence there...that is why we need to give people like ACCC more teeth!
Australia has too many Oligopolies and Monopolies...
What I offered a disruption business model.....which would cause BA fees to drop....do you think I would be approved by REBAA on my merits??
I am not saying that REBAA will do this....but can you see my point?
Have a look at the banks...they seem to have unsaid...way of pricing things. Same goes for Oil companies. The classic is ABA (Australian Banking Association) defending the banks. Do you think there is any independence there...that is why we need to give people like ACCC more teeth!
Australia has too many Oligopolies and Monopolies...
Do you have a split personality?
I'm sorry, I considered Campbelltown SW, not W. Is that not the case? I'm still learning the areas, as you may have guessed.
