Buying a professional

Paul Wilcox

Let me state upfront that I am a real estate buyers agent. It is my job to act exclusively for the buyer in the real estate transaction and as such I am paid a fee from my client - THE BUYER.    From the outside looking in I can appreciate that buyers view buyers agents as an additional cost on top of the property ,stamp duty, mortgage fees etc BUT reluctant to engage an expert to help them buy what will be the biggest financial outlay in their life 


Everyone can look at property thru the majot portals , attend open homes, ring agents etc BUT as the average buyer purchases property every 8-9 years what chance do they have in winning a negoition with a real estate agent that sells property everyday for a living. Never mind all the "rubish"that is being peddled in the media , wheather its a good/ bad time to buy/invest , the next hot spot etc or tacking advice from a well meaning friend or family member , the odds are definately stacked.


Sure I charge a a fee for service ,but my service levels/ advances the playing fiend for my clients by putting them in the best postion to purchase their dream home or investment. I do this by several ways , being a long term professional in the industry I know prices, agent tactics, when and when not to bid , where / where not to buy and why, not forgetting relationships that I have with agents that get me into properties before the hit the internet or those that never hit the web, or just securing a property after a long term search when the market is moving north. Not forgetting increasing costs on building/pest/ strata reports and legal fees and STRESS/


The "cost" of using a buyers agent is infact cheap, getting it wrong can and does cost money in the short and long term wheather its a "high" buy price  which leads to a higher stamp duty , higher loan etc which can just equate to a lower sale price dus to incorrect property selection.  Perhaps the best way to "push my buyers agents barrow" is to simple cut & paste an email that I am sending to a client that has been referred to me. Unfortunately he purchased in this complex back in 1997


So far the numbers on the whole block look pretty grim, what I am seeing is that there were a lot of sales around the same time when the opportunity came onto the market with what would have been a slick sales pitch with glossy brochures and "adventurous forecasts " of high yields and capital growth based upon a small purchase price.   The history so far is yet to prove this correct with most units selling years later at a figure well below the original price.

I will take the opportunity to give a brief "story" in regard to re - sales as your friend may wish to re- assess his plans, this is abbreviated for ease.

unit 15  org purchase price( pp)  $329 000 Jan 1999  resold   $290 000  March 2004

unit 16 org pp $361 000  Sept 2000  -                         resold   $265 000 June 2005

unit 25 org pp  $300 000 June 2000                            resold  $280 000 July 2007

unit 26 org pp $274 000  June 2000                            resold  $241 000 March 2004

unit 27 org pp $341 000 Sept 2000                             resold  $240 000 April 2005

unit 43 org pp $314 000 Jan 1997                               resold  $250 000 June 2005

unit 49 org pp $354 000  Sept 2000                            resold  $270 000 Oct 2009

unit 54 org pp $349 500 June 2000                             resold  $220 000 April 2008 

unit 57 org pp $299 000 June 2000                             resold  $270 000 Oct 2008

unit 64 org pp $378 000 Aug 2000                              resold  $240 000 April 2005 

unit 69 org pp $343 000 Feb 2000                              resold  $282 000 Aug 2005

unit 77 org pp  $382 000  Jan 1999                             resold  $210 000 Aug 2009

unit 82 org pp $310 000 Feb 2000                              resold  $277 000 June 2006

unit 92 org pp  $314 000 June 2000                            resold  $212 000 Oct 2003

unit 112 org pp $326 000 August 2000                       resold   $215 000 April 2006

unit 1705   org pp $384 000 Jan 1999                         resold $297 500 April 2013

unit 2202   org pp $212 000 Oct   2003                       resold  $224 000 August 2007

Doesn't  1-2%fee seem cheap? , call it an insurance policy , note that I have not even mentioned the money I save. Like painting, we can all do it , but factor in the time of work, the time it actually takes and the end result, its better to employ aprofessional painter to undertake the job quicker and with a better outcome??


 


Enjoy your search , if you dont call me for a chat on how I can help on 0410 301 668