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Buying or selling? Get the right advice

Buyers agents

By rosscoact - 29 October 2010 8

I’m looking at buying a 100 acres or so near Braidwood where I can pretend I’m a farmer. 

I have a number of criteria that need filling and there’s a lot of bullshit out there so I’m contemplating using a buyers agent just like those shows on Foxtel

Has anyone used a buyers agent?  Was it worth it? Are there any locally worth hiring?  What do they charge?

Thanks in advance

What’s Your opinion?


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8 Responses to
Buyers agents
supersal 9:58 am 24 Sep 15

This is an old thread, but in case there’s still people looking I wanted to add to the conversation.
We’ve used Claire from Capital Buyers Agency and she was incredibly helpful. Professional, thorough, knew the market inside out. Not many others even bothered to return my phone calls, typical agents.
If you’re looking for someone to help you buy, I’d highly reccomend her – http://www.capitalbuyersagency.com.au

moneypenny 5:15 pm 27 Jan 15

I haven’t used a buyer’s agent, but in the interest of disclosure I am one, so perhaps I can give you some insight into what you might like to look for.

An independent buyer’s agent will work exclusively for the buyer, avoiding the conflict of interest inherent in the traditional seller-oriented transactions. Within Australia an agent is bound by law to work in the best interests of their client. In the case of selling agents, their client is the vendor so whilst they might seem friendly and helpful, ultimately they are working for the vendor’s best interests. A licensed buyer’s agent acts for you and you alone, representing your interests.

There are two types of agents you might come across. Those that you see on TV, like myself, that help you source, consider, and purchase real estate that fits your brief. For a full end to end service it’s typically a fixed fee of around $8,000 – $15,000 or a percentage of around 2-5%, and whilst you might think an agent on a commission structure is not going to try and get the best price for you, we’d far prefer the referral to the next client when you get a great result. Some agents will operate on both a fixed fee and partial commission. You can also typically engage a buyers agent for just a part of the process as well. Tasks you might consider using a buyers agent for include such things as auction representation, property sourcing, price comparisons, advice or negotiation. Pricing and engagement structure will vary from agent to agent but is usually on either an hourly rate or fixed fee.

The second type of buyers agent you come across tends to be more focused at investments and off-plan construction, and will normally have relationships with one or more property developers (such as those enrique mentioned). In effect they act as a sales agent for that developer, and are paid by the developer, not by you.

The main reasons you might consider using a buyers agent is that you are either too busy to get out and look at properties on the weekend, unable to because you live interstate or overseas or need someone to give you advice through the process. A buyers agent will often also have relationships with selling agents that might get you a preferential opportunity or access to off market properties that you normally wouldn’t be able to access. If you’re curious to know more, check out some of the resources available on my website at pennyhyde.com.au

Troll-snifter, I totally agree with you that Allhomes is a fantastic resource for property purchases in the ACT but you should never be lulled into thinking that the selling agent will put anything on there that might detract from the positive features of that property. Allhomes also cant bid for you at auction, negotiate for you, tell you if the neighbourhood is nice, show you off market properties, find out why the seller is selling or tell you the quickest route to your place of work is.

rosscoact 4:23 pm 29 Oct 10

bitzermaloney said :

rosscoact said :

… with a house up to $400k and without a house $250k…

Good luck.

Most 3 or 4 bed properties in Womboin / Bywong region start at $750k for 10 – 20 acres. $450-500k + without the house.

You could start looking around Tarago, but then you may as well look around Goulbourn, Yass Bowning… further away in distance to Canberra, but closer in time.

I think you’d find the places around $400k (with house) will pose some obstacle or another (not to mention potential targets for like-minded people looking to escape the city.)

I’m not looking at a commuter per se, just close to Braidwood. Pigs don’t take to being left alone.

There is 15 pages of properties on Domain that fit close (but not exact) to that criteria within 50k of Braidwood. I don’t like Bywong Bungendore area, too hilly and too many browns and tigers. I’d go to Murrumbateman but it’s that price range you mentioned and so not possible.

bitzermaloney 4:11 pm 29 Oct 10

rosscoact said :

… with a house up to $400k and without a house $250k…

Good luck. Most 3 or 4 bed properties in Womboin / Bywong region start at $750k for 10 – 20 acres. $450-500k + without the house.

You could start looking around Tarago, but then you may as well look around Goulbourn, Yass Bowning… further away in distance to Canberra, but closer in time.

I think you’d find the places around $400k (with house) will pose some obstacle or another (not to mention potential targets for like-minded people looking to escape the city.)

rosscoact 3:57 pm 29 Oct 10

There’s a couple of buyers agents that I can find, one in Canberra and one down the south coast. The reason I’m thinking about going for an agent is that I don’t wish to take days off work looking at blocks that agents say meet my specific needs but don’t, been there done that. Unlike popping out for an open day on a saturday, finding the right rural blcok in an area you don’t live in takes some serious committment. People simply put the best spin on things in ads and agents want a sale. I want something quite specific and have no need to look at properties that don’t meet my specification.

FYI my specific needs are power to the block, fully fenced, reasonably flat, at least 50% pasture, permanent water, frontage to a road, as close to canberra as possible, with outbuildings, with a house up to $400k and without a house $250k. Yards would be a plus as would being seperated into a number of paddocks.

As far as animal husbandry goes, I’m going to spend some months working at a pig farm (as that is what I want to do) and start out smallish. I do heaps of things on whims, but major life changes is not one of them.

troll-sniffer 1:50 pm 29 Oct 10

Hmmmm sounds to me like a disaster waiting. Buying a hundred acres with no real idea of what you’re doing is not a good sign of your abilities to manage a piece of Australia’s heritage.

I would suggest you sit down and seriously work out what you want from your hundred acres and then spend the best part of half a year learning the area, its different topography, soil and rock types, access, etc. A bush block to relax in with little responsibility other than maintaing fences and vegetation might be your cup of tea, or if you think you want to run some form of livestock you’ll need a lot more research, and unless you intend to spend a lot with little income to show for it, a rather larger block.

There are a whole host of minefields awaiting the casual starry-eyed purchaser who wakes up in the apartment one morning and thinks he would like to try a hand in managing a large block of land. It’s a commitment, not suitable for a short-term whim, so unless you’re dead sure this is your destiny you could be in for trouble.

At least you’re on the right track, in the Braidwood area 100 acres is generally the minimum for a building permit. Smaller blocks with buildings and or permits are often available as well and for the non-committed weekend player they can repersent a better bet.

As for a buyer’s agent, I cannot for the life of me think of anything that an agent can do for you that Allhomes can’t, and at least with Allhomes there can never be a conflict of interest.

enrique 10:45 am 29 Oct 10

I spoke to a few buyers agents a few months back in regards to investment property and from what I could tell they operated a model as such…

Agent has relationships with property developers and thus gets first dibs/preferred options on whatever their developers are building at the time. In return for bringing in sales, the developer provides the buyers agent the preferential options.

Not a bad service really if you’re looking to get in off-plan. However, there was no indication that the buyers agent would get out there and ‘search’ for anything based on your requirements/criteria beyond what their developers had available. So essentially, they were really only plain-old real-estate agents in this regard.

However, I didn’t really look that hard so there may be some out there that provide a more tailored ‘search’ service. I have no experience with regional properties/acreage.

I’d be interested in hearing about what you find out.

churl 10:29 am 29 Oct 10

100 acres?
In much of that area I think that you need at least 200 acres or so if you want to build a residence: check with council requirements before you buy.

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