Why do some people have success with BA's whilst others don't?
- Thread starter Achimy
- Start date
Hi again
Where are you looking to buy? There's some amazing BA's on this site - two of them have responded in this thread.
Cheers
Jamie
Achimy I cant comment on all the suburbs mentioned but I first invested in Beenleigh in 2003 - it is (IMHO) still a buyers market there right now. The last 5 yrs have been dead from a capital growth perspective, and the ripple is starting to move from the 2 epicentres (Bris CBD and GC CBD). You can track the median house price down along the corridor and B is the lowest point in the midde. Great transport, location half way between makes commuting to either possible, enough development to show the area itself is going ahead, and its just to the east of the Logan area which is humming and has already had some recent growth (see the Logan threads). I have met families who chose to relocate across from Woodridge due to the nice quiet feel of Bethania, Edens Landing, etc.
I now source my own properties, however I have used BA on a number of occasions for interstate purchases. Its been hit and miss, (propertyunity/Alan certainly stands out IMO as pretty savvy) and he sourced a great property for my niece's partner.
Plenty of good info posted here.
Would like to add -
Any BA promoting land and house packages where they are recommending 1 builder, beware some BA receive a commission, so how can they be working in your best interest.
If its a hot market, guess what everyone wants what you want, what does this mean? well you may miss the boat because the BA has too many clients and not enough to go around. In a hot market its about getting in quick.
Don't take verbal info as a given just because its from a BA, you need evidence to back up the research, rental estimates comparable, anyone can tell you anything. This is why I source my own properties because if I have to verify the information then I had also put the hard yards in so why am I paying a BA.
If you lack confidence/fear and find it hard to make a decision then perhaps a BA is for you, but make sure you are prepared to do your own homework.
MTR
Plenty of good info posted here.
Would like to add -
Any BA promoting land and house packages where they are recommending 1 builder, beware some BA receive a commission, so how can they be working in your best interest.
If its a hot market, guess what everyone wants what you want, what does this mean? well you may miss the boat because the BA has too many clients and not enough to go around. In a hot market its about getting in quick.
Don't take verbal info as a given just because its from a BA, you need evidence to back up the research, rental estimates comparable, anyone can tell you anything. This is why I source my own properties because if I have to verify the information then I had also put the hard yards in so why am I paying a BA.
If you lack confidence/fear and find it hard to make a decision then perhaps a BA is for you, but make sure you are prepared to do your own homework.
MTR
Hi Jen,
Thanks for the response. But I'm talking about like the same BA from different perspectives, for e.g. a lot of people say Binvested has one size fits all, and their strategy of buying below MV and recyclying equity is pretty good...especially since the properties end up neutral /positive (maybe some negative).
Some reviews of RCG (right property group) are very good, whilst others not so much and state (I shouldn;t have used them)...
It seems maybe the people who have studied property themselves and understand the dynamics, but have a fear of progressing for whatever reason (in my case procrastination, and not the best at communication with real estate agents, and kind of not knowing what to ask them for research without them trying to sell me something), maybe get the most out of a BA? Obviously if you use a BA with minimal experience and like 3-4 properties, won't be as experienced as someone with 50+ but then even those 50+ experience varies, and I can't seem to figure, how do I know if they'll be good for me, before I hand over my money
Thanks man, this is actually really helpful. It's giving me direction for further research and what to look for beyond numbers! Could you maybe provide direction in terms of exactly what infrastructure is being put in. I know a lot of bus routes, highways, walkways etc. but anything big? Like a tunnel or so...
That could be the case but if you can buy the same product for much cheaper price, then I smell a rat. I had this conversation with a BA in Syd, no one on this forum who sources properties for clients and I asked the question and did not get a straight answer... alarm bells
No tunnels needed it's flat land.
http://www.logan.qld.gov.au/plannin...-master-plans/beenleigh/beenleigh-town-square
Last time I was there the tallest office building was being built at around 8-10 storeys, which was a first for the area.
The yatala industrial estate is the big deal, it started from nothing and it's grown quite substantial. I would suggest a visit and drive around to get a feel.
... having searched for years for a chink in Alan Fox's armour I have yet to hear of an unhappy client so propertunity may, in fact, be perfect.
Ask Mrs Propertunity - she would disagree!.....and so would I.
Ask Mrs Propertunity - she would disagree!.....and so would I.
LOL I know Alan very well and would probably concur with his lovely wife
but on the business side he's a true professional and a passionate advocate for buyers- you simply can't be in this business long term if you don't truly enjoy what you do, and are very good at it. I believe, and I know Alan would agree, that it really comes down to the reputation and trust of the particular BA. Google is also your best friend and if there's only good stuff on the net about a BA then you're on the right track...Also check out the REBAA questions http://rebaa.com.au/how-do-i-choose-a-buyers-agent/ interview/talk to as many BAs as it takes to find the right one you feel comfortable with and agree with Matt here that local knowledge is also key. We have 5 BAs in our company, all of whom specialise in certain areas of Sydney and if we don't cover an area, we refer onto other trusted REBAA colleagues who do.
Achimy, if you're looking for an excellent BA in the Beenleigh area I would be more than happy to recommend the highly reputable and hardworking VFM - Tony and Eva Coughran are a great outfit, based on the GC and not only have I had the pleasure of hearing from other clients how good they are, but Tony also worked for several years as a valuer in these areas. Check them out and let us know how you go and best of luck!
http://www.vfmpropertyadvisors.com.au/about-us/
LOL I know Alan very well and would probably concur with his lovely wife
Also check out the REBAA questions http://rebaa.com.au/how-do-i-choose-a-buyers-agent/ interview/talk to as many BAs as it takes to find the right one you feel comfortable with and agree with Matt here that local knowledge is also key. We have 5 BAs in our company, all of whom specialise in certain areas of Sydney and if we don't cover an area, we refer onto other trusted REBAA colleagues who do.
Achimy, if you're looking for an excellent BA in the Beenleigh area I would be more than happy to recommend the highly reputable and hardworking VFM - Tony and Eva Coughran are a great outfit, based on the GC and not only have I had the pleasure of hearing from other clients how good they are, but Tony also worked for several years as a valuer in these areas. Check them out and let us know how you go and best of luck!
http://www.vfmpropertyadvisors.com.au/about-us/
Somersoft blows my mind, the amount of helpful people here is ridiculous. Thank you so much!
Thanks. Now how did you find out about the yatala thing? Was it just through driving around or speaking to council or agents? Is it possible with written material? Because I would like to find similar info regarding other suburbs.
This is what I've found. I needed to know what I was looking for and why - and tell the BA this. They may try to show you anything but you need to have done your homework and know your numbers and strategy and what this looks like. A BA showed me 8 properties before I chose one. Each of the others didn't meet my criteria for whatever reason.
I would use a BA again as they are in the market every day where I am at work 8-10 hours a day and can't jump out to call and negotiate with agents and go through DD etc.
You can search council websites and news media, select a general area that interests you and run a few searches and just keep reading.
If you keep visiting here and following up on various posts you will develop the skill of tracking down new developments in your selected area.
It takes time and it is all part of your investigative process, a few years ago people were on here talking about mining towns, then it may be a new freeway somewhere etc. These are clues as to where something new is happening, Google is your friend, spend time reading up on stuff before committing.
It is a learning process and if you intend to build a portfolio you will benefit from a good foundation of knowledge on how to do your own research.
Any state government announcement that talks of developing something will have some localised effect, have a read up on the area then monitor its progress is a good way to start.
Good luck, happy reading
Lots of reasons why some people are happy and some aren't. I would think that they are mostly based around expectations and if they find a good one or not. At the end of the day a BA is a person and therefore if you have the time, make the contacts and education you could do the same thing - so I would say a reason some people are unhappy is they feel their BA didn't do anything they couldn't and if the BA makes it look easy (their job) then this is easy to do.
Having said all that I used a BA for my first IP purchase (about 3 years ago), was presented with a few options they narrowed down (I had also found these same properties myself independently as I continued to look) and purchased the one I wanted after the BA negotiated for me.
At first I thought, "Wah! Why did I pay money to buy a property I would have got myself anyway?!?" However 3 years down the track I am not unhappy, feel that I got a good education, seeing how the BA communicated with agents, selected properties, negotiated etc. I probably even saved their fee on the purchase price.
Will I use a BA again? well I didn't for #2 and probably won't for my PPoR or IP #3, but I haven't ruled it out.
Having said all that I used a BA for my first IP purchase (about 3 years ago), was presented with a few options they narrowed down (I had also found these same properties myself independently as I continued to look) and purchased the one I wanted after the BA negotiated for me.
At first I thought, "Wah! Why did I pay money to buy a property I would have got myself anyway?!?" However 3 years down the track I am not unhappy, feel that I got a good education, seeing how the BA communicated with agents, selected properties, negotiated etc. I probably even saved their fee on the purchase price.
Will I use a BA again? well I didn't for #2 and probably won't for my PPoR or IP #3, but I haven't ruled it out.
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