Buyers Agents



From: Robert Longmore

Does anybody here use Buyers agents to help get a IP deal going?
i was watching a current affairs program that ran a story on Buyers agents, stating that they were real estate agents the work for the Buyer, not the seller. their aim was to negotiate the lowest price for a property on your behalf, and basically beating the sellers real estate agents at their own game., they said sometimes they could make savings in excess of over $20,000 on your average $300K to $500K property.
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Reply: 1
From: Mike .

Hi Robert,

The idea of Buyer's Agents is relatively new in Australia and since I've been on the forum nobody has said they used a Buyer's Agent to find an IP for them.

Later this year, I'll be off to London, and being so far away I've decided to use a Buyer's Agent for my next purchase. I've already got IP's in Sydney and Brisbane, so Melbourne is my next target. I won't be purchasing for a year or two but the groundwork involves getting the BA to understand the type of property I want in a good growth suburb. While I'm waiting to be financial the BA can track sale prices of these properties to determine the correct market value. Then, when I'm financial, the BA can pounce when one comes up at a fair price.

Regards, Mike
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Reply: 2
From: Kylie S

Hi Robert,

I used a buyers advocate to purchase my first IP late last year. The main reason I decided to do this was because I was heavily pregnant - and getting in and out of the car to look at properties was getting tricky.

I knew exactly what I wanted and how much I was prepared to pay - in other words I had done my homework.

The lady I used was great - she listened carefully to what I wanted and I only looked at 2 properties before purchasing mine.

She was a tough negotiator and knew the real estate agents in the area I was looking in. I think it took about 2-3 weeks??? Cant remember.

I was really happy. Got a flat for a bargain - b4 1st open for inspection and b4 baby arrived.

Would I do it again??? Depends on time available - I do enjoy shopping for houses so I probably wouldn't if I could get out and about myself.

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Reply: 2.1
From: Curious Onlooker


Which city was this person in?


Curious Onlooker
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Reply: 2.1.1
From: Kylie S

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Reply: 2.2
From: Apprentice Millionaire

I engaged a buyer's agent to find me my first IP, not because I was pregnant, but because I was a newbie. Drove some people on this forum crazy! :) Took me nearly a month and a half. I think I nearly drove my buyers agent crazy, too!

>I knew exactly what I wanted and how much I was prepared to
>pay - in other words I had done my homework.

That is crucial: I had a budget, a criterion of positive cashflow (I used PIA to run through numbers and what if scenarios). But I was open to any suburb.

>She was a tough negotiator and knew the real estate agents in
>the area I was looking in.

That is where my buyers agent helped me the most. Having been a real estate agent in the past, my buyers agent knew how to hit the right buttons. Knowing others in the field and having networked helped in getting info, too.

>Would I do it again???

I want to start making my own mistakes. I learned heaps in the process with my buyers agent, so it is time I put the lessons to the test.

Did I get what I wanted: I guess so. An 18mths old 3BR house with a motivated vendor. Asking $168,500, offer accepted at $154k. Rental expected $225pw. Pre tax negative cashflow, positive cashflow post tax. Capital growth? Not sure yet, it is in a development area.

Apprentice Millionaire
(aka Jacques in the old forum)
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Reply: 2.2.1
From: GoAnna !

Kylie / Apprentice Millionaire

Perhaps you would like to give us their contact details? A web site?

I am confident in sourcing my own property however I suspect there may be times in the future when I am physically unable to do the leg work myself for one reason or another.

A question for buyers agent. Do you have some kind of web cam so your client can "view" the property with you from a geographical distance? That would be cool.

GoAnna !
(aka Anna before she got real)
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From: Robert Longmore

do you know of any good buyers advocates/ agents in Syd, i am looking for 1/2 br units in syd east or inner city, also looking for +ve cashflow.

thank you
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From: Kylie S


I used a buyer called Jenni Wright from a company called Morrell & Koren (0419 343 482)
They are based in South Yarra (Melbourne).

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