Im in the market for a property and am tired of auctions. Starting to consider Buyers Advocates.
Any recommendations for good ones in Melbourne?
Melbourne Buyers Advocate Recommendations
pixpotato on 30/08/2023 - 21:25
Comments
Assuming about $930k (Melbourne Median) and a commission of 2 to 2.5% that's about $20k.
No way in hell I would pay that much for something I would pay deep attention to and be deeply involved in as a default.
It takes 2 mins to set up saved searches and daily alerts from the major RE sites.
Takes another few hours to build a rapport with the major agents in your desired area(s) that you are a serious buyer and keen for off market options.
Takes another few hours per serious bid to do due diligence and get finances ready.
Even if you value your time at $100 / hour no way $20k is worth it.
Emily Wallace is great. Arjun from investorkit is also great
I don’t know why more people don’t use them
The cost, obviously.
And some people are property astute
Ella Cas on tiktok
If you’re tired of auctions you are not being realistic about you budget/pricing. A buyers advocate won’t help you with that. Literally all a BA will do is save you vetting time. In this market they will not find some secret vendor who is yet to advertise. Every vendor is doing to auction to get the best price in what is still a hot market.
Also sick of auctions and also considered a buyers agent but 3% of purchase price fee stings a bit too much.