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This is a fairly balanced and unbiased comment re BAs in Brissy. Have contacted another BA (not one of the three) the fee is a bit lower but all they do is to flick properties from realestate.com because they are too busy making money from other ventures.I have spoken with directors of the 3 mentioned and initial conclusions: Metropole appear to have a very stream lined and efficient business model, using close tactics on initial consul didnt sit well with me, high prices. Property Searchers very professional, extensive experience probably the safest bet but high prices. Allen real estate offer competitive pricing, i feel this bloke will offer a more personalized service, he has a new company but the underdog always goes harder. I would feel comfortable using any of the mentioned.
Care to share any good/bad stories using them? Things to watch out for?
My most recent perspective....
The property we were interested in, a new PPR, did not have a list price, though the vendor wanted over 1.5m. At one point we increased our offer by 100k. We increased our offer to within 1.55% of what the REA consistently told us the vendor would most likely accept. We bailed yesterday on the basis of info Andrew was feeding us on auction activity and dynamic web listings.
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Please tell me you or Andrew got a photo of the agents face when he or she realized the negotions had just ceased. If yes plz post same photo!
I bet that made the agents day,one minute they think it's all too easy just stay quite and say nothing,and let the buyers fight it out,,next thing your back to square one with 20 cents in you back pocket,and a mobile car payment rent bills to pay..willair..My most recent perspective....
What makes a BA worth using is that they not only understand market value really well, but they pre-empt its direction better than most. That cannot be garnered from tirelessly trawling realestate.com.au nor talking to a handful of REAs every week.
A BA has to be attending multiple auctions and OFIs every weekend, getting a feel for how market sentiment is unfolding. They might also be collecting stats on realestate.com.au listings, such as how many houses on >500m2 are listed for <400k in a particular region.
It is only by doing this stuff that a BA gets a significant market advantage, the sort that justifies their fees. By doing the above, they will be the first to see the temperature rising, and falling.
A good BA not only knows the fundamentals, but market sentiment from week to week. They will also know how local, national, and international news influences the market from week to week.
Until yesterday, we had been in lengthy negotiations for a new PPR in Brisbane. Andrew Allen guided our negotiation by providing info on weekly auction attendances, registered bidders, and bidding history for auctions in our area of interest, and nearby areas below and above our range. This is crucial information in my view, and helped us determine adjustments to our offer.
The property we were interested in, a new PPR, did not have a list price, though the vendor wanted over 1.5m. At one point we increased our offer by 100k. We increased our offer to within 1.55% of what the REA consistently told us the vendor would most likely accept. We bailed yesterday on the basis of info Andrew was feeding us on auction activity and dynamic web listings.
We believe bailing will probably save us 300k+. So, not only can BAs save you money by telling you where and when to buy, but when to walk away, even if it is at the 11th hour.
I bet that made the agents day,one minute they think it's all too easy just stay quite and say nothing,and let the buyers fight it out,,next thing your back to square one with 20 cents in you back pocket,and a mobile car payment rent bills to pay..willair..
Winston,it's not as hot as some think,several real estate people that i know tell me the only item that is keeping them above the water line is their rent rolls,most sales fall over due too the value and the way the banks are actingbut over time how could you go wrong with Ascot,and as Andrew has been in this site for a long time i hope he does well,all any agent has to do is listen to what the buyers wants,not cop all the crap about how they have made people overnight million dollars fast buck gurus,and i'm too important tell the facts..willair..The REA told us our offer was the only one remaining on the table last Friday arvo.....and the strongest to date.
And this all started with a multiple offer at end of week 3 of listing. The REA and vendor probably got a little punch drunk and overly confident about that.
Some vendors (and REAs) don't realize even keen as mustard sentiment driven buyers can cool; and time is opportunity to do more research, gauge market sentiment, see new listings come to market.
With the help of Andrew, we've become aware this week of more motivated sellers in Ascot for more substantial homes.
So this vendor lost us on the basis of a revised perspective on the relative value of their home versus new competition, less heat at auctions, and new risk to the global economic outlook.
several real estate people that i know tell me the only item that is keeping them above the water line is their rent rolls,most sales fall over due too the value and the way the banks are acting