Has anyone ever been ditched by their buyers agent? Suggestions for a new one.

[lila77]

I have had a really good mentor and buyers agent until very recently when he has obviously decided to not return my calls or emails. Even the most recent email sent about a week ago asking him if he didn't want me to be his client went unanswered.
I an actually really angry and would like to write his name all over this and many other posts but as I am professional and don't wish to hurt reputations, despite him acting unprofessional as far as I'm concerned, I wouldn't mention his name or the names of the businesses he runs.
I thought we had a good working relationship and during this time he has found me 3 properties of varied success. The first (in Sydney in amazingly successful) whilst the other 2 properties have been much slower to gain in value. This was my decision to go ahead with buying all of these properties so it is was also my decision to take the risk and buy in Queensland.
I have put together a really good team, including a broker who soon after I began using him started to work with my buyers agent.
I use a buyers agent because of my busy lifestyle I don't have time to read copious amounts of literature on property and I definitely don't have time to scour the country looking for good deals.
I need a new buyers agent and unfortunately also a broker - either as a 'package' or individually. I was hoping to have a 5th property (4th investment) settled on before the end of the financial year but this is looking increasingly unlikely.
Are there any suggestions on a new buyers agent and broker?

 

[ok180]

Name a shame the man who spurned you lila!

 

[Rolf Latham]

Are there any suggestions on a new buyers agent and broker?

Sad to hear of your experience

What city and and what are you looking to buy ?

ta
rolf

 

[Benvolio]

I dont think a BA works in a hot market. Either they'll cave into the pressure you apply and recommend an over priced and lower quality property OR they stall and you get frustrated feeling like youre missing out.

 

[Propertunity]

I dont think a BA works in a hot market. Either they'll cave into the pressure you apply and recommend an over priced and lower quality property OR they stall and you get frustrated feeling like youre missing out.

I don't think that is an entirely fair, broad brush to take and paint all BAs with.

On the contrary, my own (admittedly biased) view is that in a hot market a BA can assist you quite a lot.
1. They will stop you from becoming emotional and overpaying (there's always another property to buy).
2. Can many times, buy prior to auction for the 'right' money without getting involved in the auction process where prices can get bid up.
3. Can leverage his/her network of agent contacts to buy off-market (with zero competition). We do this quite frequently.
4. Can get out and buy mid-week before the crazy stuff happens with more competition on week-ends.
5. Can focus on buying you the right property - it is his/her full time occupation, whereas with many buyers, finding a property is just one more item on a very long to-do list.

 

[JenJen]

Hi Lila77

It sounds to me like your BA is either over-committed and not keeping up with emails, or overseas! Did you ask if he has the capacity at the moment? There are quite a few reports of BAs being run off their feet at the moment.

Also, where was your BA located? And where are you looking to buy?

As for a broker recommendation, I highly recommend Jo Attard at joattard.com.au. She is Melbourne based but has clients all over the place.

Cheers

Jen

 

[JohnA]

I don't think that is an entirely fair, broad brush to take and paint all BAs with.

On the contrary, my own (admittedly biased) view is that in a hot market a BA can assist you quite a lot.
1. They will stop you from becoming emotional and overpaying (there's always another property to buy).
2. Can many times, buy prior to auction for the 'right' money without getting involved in the auction process where prices can get bid up.
3. Can leverage his/her network of agent contacts to buy off-market (with zero competition). We do this quite frequently.
4. Can get out and buy mid-week before the crazy stuff happens with more competition on week-ends.
5. Can focus on buying you the right property - it is his/her full time occupation, whereas with many buyers, finding a property is just one more item on a very long to-do list.

I naively fell for this marketing spiel.

 

[lila77]

"Hot market" is a very generalised way of looking at the Australian housing market. I have property that is not so hot at the moment (in terms of valuation) which I'm not sure I could give away and one in Sydney that just doesn't stop increasing in value and would probably sell in a heart beat.
I had a very good relationship with my buyer he is well respected and has made a lot of money. He has also made a lot of money for me too. I would prefer to continue with this BA-client relationship and I do hope that he is just too busy.
Being busy doesn't mean he couldn't send a quick reply to say sorry over committed atm instead he just ignores me.
I am looking for a house or unit for below market value which has a reasonable rental yield (I can accommodate negative but would obviously prefer neutral or positive) but has a good chance of increasing in value, especially in the short term. As for where - I am looking for an area that will have good short term future increases in value with long term rental increases, in other words I don't care where in Australia.

 

[travelbug]

Something is not right here.

You introduced your broker to the BA and now they've BOTH dumped you???

What is so great about them that you want to continue with them?

It sounds like your Sydney property is the only good one and anything anyone bought in Sydney 2 years ago is now great.

 

[Jamie M]

Are there any suggestions on a new buyers agent and broker?

Cory Batt from this forum is in Adelaide.

A good BA recommendation depends on where you're looking to buy.

Cheers

Jamie

 

[JacM]

Hi lila

Out of interest, were you under an agreement with your BA to find a property for you at the time the communication stopped, or were you trying to get in touch with a question or to discuss a proposed up-coming purchase?

A BA or any other sort of provider is not obliged to take a particular client on, and may decline to do so if a client is tricky to work with, but it sounds like you had a good relationship since you've already purchased a few times through your BA.

It sounds like your BA may have gotten very busy very quickly and hasn't had the time to respond to all communications.

 

[DavidTomlins]

Hi Lila

As Jamie says if you have a specific area in mind it will be easier to recommend a Buyer's agent. Whilst working remotely with an agent is more than possible I personally prefer to meet in person prior to advancing.

There are quite a few agents that are currently swamped by work, that being said simple communication of this is a reasonable expectation particularly if you have previously purchased 3 properties through them.

Cheers