What do buyer’s agents charge for their services?
MB Property Advantage offers 3 levels of service depending on the buyer’s requirements. An upfront registration fee is payable to commence work and the balance payable within 7 days of exchange of contract. Our fees are clearly stated in our proposal and agreement which covers a set time period. The fees for levels 1 and 2 of our services is between 1%-2% of the price of the property. We back the quality of our evaluation and negotiating services by saying, in most cases, we can save our clients much more than the price of our fee on the purchase price of the property. For auction bidding services a fixed fee of $1,050 is charged for successful outcomes and $550 for unsuccessful auctions.
Do I have to meet with you in person?
No, that is not necessary. I am based in Sydney and offers services to clients all over Australia. We can use skype, phone or email as your preferred contact.
I am fully committed to my work during business hours, do you offer out of hours meetings?
Yes definitely. I fully understand that you need to commit to your work so we can arrange meetings at times that are most suitable to you from approximately 7am to 10pm and on weekends.
I have never bought a property and don’t know how to start except look at what is listed. How can you help?
My Advantage Pro service offers the complete ‘sit back and relax and let us do all the work’ option. We will literally do it all for you and provide you with reports and updates along the way so you are learning as we proceed.
I want to buy but not sure if I can afford the repayments. Should I organise finance before engaging your services?
It is always preferable to know your finance capabilities so I know what price range to search on your behalf. You can make an initial enquiry with a home or property lender and organise pre-approved finance or you can discuss your requirements with me and I will guide you through that stage also.
What happens if you find the property I want but I don’t have my finance ready?
You will be required to pay the deposit to secure any property purchase so you will have to have finance organised and the deposit ready. If not, the property might still be available by the time you have arranged finance, but that can’t be guaranteed.
I’ve been searching for our new family home for ages and still can’t find anything that fits our needs at the right price. How can you do better for us?
Many people tend to select a suburb or general area and contain their searches to those and often these are ‘wish list’ areas. With my access, contacts and research resources, I will search a wider area for you and use my connections to unearth any silent sales that you may not have uncovered. By widening your search you may discover other areas which you had not considered, which are very suitable to your needs.
What are silent sales?
Silent sales are properties which are on the market for sale but are not listed publicly. This can happen for a variety of reasons, usually as the owner may not wish it widely known that they are selling. Real estate agents who have these properties canvass their known buyers and offer them. This is a popular practice with high-end and ‘trophy’ homes but can also apply through the property price range. Through my contacts in the real estate field I have access to knowledge of silent sales.
What are off-market properties?
Off-market properties are usually apartments in new developments but may also include houses. Developers alert their contacts, property professionals and investors such as myself that the properties are for sale before they commence advertising. By doing this, they can often sell many of their apartments early, save on advertising costs and/or give impetus to the advertising process when it commences with the ‘50% already sold’.
I’ve heard of rentvesting. What is that and would it suit me?
Rentvesting is a term coined to describe people who choose for various reasons, to use their funds to buy an investment property and continue renting themselves, rather than purchase a home for themselves. This suits people who perhaps can’t afford to buy in the area they really want to live in, the size of the property they want is beyond their means or they see this is as a strategic move to build wealth.
I would like to get into property investment. How much money or income do I need for property investment?
Property investment is not the exclusive domain of the rich or those with large incomes. Statistics show that over 70% of property investor households in Australia have combined income of $50,000 - $80,000. Some people pay as little as $50-$100 per week to purchase an investment property.
Do you specialise in any specific types of properties or locations?
As you can see from my strategic approach and in-depth research methodology, I analyse opportunities across the full scope of properties. Initially my focus was on residential properties but more recently I have expanded into small industrial properties. In regard to residential properties, I cast my sights across units, houses, town houses and both new and existing dwellings and make decisions based on my own criteria and my client’s requirements.
Do you have access to any exclusive opportunities that I can get in ‘on the ground floor’?
Yes I do - through my property development partners I have offered opportunities at the very early stages of the building process, well before many other private buyers would be in a position to identify the opportunity. I can then offer these to you as one of my clients.
If I change my mind or a property does not perform in the short term, what are my options for getting out of my property investment?
While I base all my decisions on sound reasoning and research, of course there can be no iron-clad guarantees in predicting returns on investment. You always have the option of selling but being mindful of capital gains tax and other possible implications. Should this situation arise, I provide full consultation services on advising you of an appropriate course of action.