Using BA in a hot market...

I used a BA for my latest purchase, the main reason was because I needed a property within 5 weeks and I didn't have the time to look myself. But I was very happy with the process, they purchased a fantastic property before it went to market.
 
I used a BA for my latest purchase, the main reason was because I needed a property within 5 weeks and I didn't have the time to look myself. But I was very happy with the process, they purchased a fantastic property before it went to market.

May i know which state or suburb and which BA?:)
 
I see, Monique Sasson Wakelin, she used to be the author for Eureka Report Property section and now she's running her own business.

Sort of. Monique Sasson was in that business for a long time but my understanding is she has left and it is now owned and managed by Richard Wakelin and Paul Nugent.
 
To all the BA on Somersoft,

What are the advantages for using a good BA in a hot market like today where everyone just offer n offer n offer above anyone else ...

Cheers
Arashi

Hi Arashi

Hot or not hot market, the advantages are pretty much the same.

Many comments focus on the price aspect, which is natural. Whilst a skilled BA would have less room to move in a hot market, this does not mean he or she wouldn't be able to purchase a property for the absolutely minimum price one can get away with. Negotiations skills, experience and solid knowledge of values underpin this.

Another aspect is assisting the client in fine tuning their investment strategy and selecting the best areas and type of property matching that strategy.

Yet another is the ability to quickly spot the best properties to match the strategy. Conversely, advise clients to avoid certain properties and walk away from properties which don't represent good value.

All this and saving the client a ton of time and much of the stress and frustration. Hot market or not :)
 
Well put Paul- your brand names matches the logic :)

Agree with others that it's not just about hard work, it's also largely about networking/contact on an ongoing basis. The power of this can't be underestimated, as well as the relationships built up over the years with selling agents. For example, this past month has seen our buyers agency secure two off-market properties for clients... though tougher in a hot market we still sourced, assessed and negotiated for a very satisfactory price.

Whilst the other purchases have been advertised, as is the norm with most vendors wanting the maximum exposure for their properties, this doesn't lessen the satisfaction of achieving solid outcomes for our buyers here either. We've either not shortlisted in the first place, lost out to other buyers (who were willing to pay more than our fair value appraisal) or passed on properties that subsequently revealed compromising issues.

Remember that using a BA is as much about passing on the lemons as it is about finding the pearls- as Paul points out. Then being able to act quickly and critically to efficiently secure the property in a timely manner is all important to the end result.

With property purchasing, it's not about missing the boat and lamenting what could have been. If you're sitting on your backside and doing minimal work waiting for the ship to come in, you're simply getting the dregs of those who are swimming out to the ship instead :D
 
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