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Thread: property finder

  1. #1

    Default property finder

    Hi guys

    An estate agent helps me find places etc, he mentioned one place which i wasnt that interested as i didnt have enough money at the time. a week later i now have checked it out are now interested. i havent told the actual agent selling the house i found via the property finder

    Does it matter if i buy it without going through the property finder? i reckon the agent wont like it if their commission is halfed and less likely to sell property at a cheaper price if their commision is halfed

    Thanks

  2. #2

    Default

    I would have thought:

    1. If they are a true buyers agent ( quite rare in NZ ) then you have a contract with them and you are liable to pay their fee;

    2. If they are a standard REA that introduced you to the property then let both agents know the situation and let them sort the commission split themselves.

    After all, it's not going to affect how much you offer is it?

  3. #3
    Join Date
    Feb 2010
    Location
    Dunedin
    Posts
    410

    Default

    treat others in the same way you would like to be treated yourself

  4. #4

    Default

    it sounds to me that you are not actually using a property finder, you just have a real estate agent you look at properties with. in this instance if the agent who told you about the property actually took you through the property, then you would need to finish the deal through them. If you have only been through the property with the sales agent then you would finish the deal with them. I would probably mention to the sales agent that you heard about the property through the other one and let company policy nut out any comissions. the sales agent wouldn't actually get their commission halfed. agents get paid for two diferent things, listing the property and selling the property. it is quite normal for one agent to list it and another to sell it.

  5. #5
    Join Date
    Sep 2007
    Location
    Auckland
    Posts
    8,321

    Default

    Has anyone used these guys:

    http://www.ifindproperty.co.nz/

    Are they any good?
    Squadly dinky do!

  6. #6

    Default

    Yes they are worth every penny, they do a lot of work for their fee (inclusive of the price shown on the web) they are also licensed REA's so they are regulated by the same auth to normal REA's. they however do NOT share the agents commission.

  7. #7
    Join Date
    Sep 2004
    Location
    Central Otago, ChCh, AKL
    Posts
    2,443

    Default

    yes Maree and the team are great, they post listing on the property investors network website (property genie) all the time.
    they have good selections of deals from around the country, including Auckland apartment specialist.

    they are license buyers agents.
    Last edited by Orkibi; 03-07-2013 at 02:33 PM. Reason: y
    New Zealand's #1 Marketplace for Property Investors & Sellers!
    FREE Access to HOT Property Deals
    CLICK HERE FOR MORE INFO.

  8. #8
    Join Date
    Jan 2011
    Location
    NZ
    Posts
    218

    Default

    Quote Originally Posted by Davo36 View Post
    Has anyone used these guys:

    http://www.ifindproperty.co.nz/

    Are they any good?
    any feedback from investors who have actually used them?

  9. #9
    Join Date
    May 2006
    Location
    Rotorua & Auckland.
    Posts
    60

    Default

    Quote Originally Posted by speights boy View Post
    I would have thought:

    1. If they are a true buyers agent ( quite rare in NZ ) then you have a contract with them and you are liable to pay their fee;

    2. If they are a standard REA that introduced you to the property then let both agents know the situation and let them sort the commission split themselves.

    After all, it's not going to affect how much you offer is it?


    Speights Boy - you are onto it!
    In our case we sign a "Buyers Authority" with out clients which does mean that they will have to pay us a fee if they purchase a property we introduce them too. It's pretty rare for anyone to try and 'back door' us, and when that does happen we are usually alerted to it by the listing agent or vendor as we have good relationships with these people. Fortunately the majority of our clients think our fee is a great deal if we get them the right property.
    Also, as a buyers agency we don't do conjuctionals so the listing agents love working with us (rather than say another Harcourts or Barfoots) agent as they get to keep all their commission. We are paid by the buyer independently of the selling agency fee.
    The thing to keep in mind is that the fees aren't the issue. It just comes down to whether or not it's a good deal or not. All of our advertised deals always include our fees so the investors can pretty quickly work out the numbers and see it it works for them.
    Cheers

  10. #10
    Join Date
    Jan 2011
    Location
    NZ
    Posts
    218

    Default

    Quote Originally Posted by MareeM View Post
    All of our advertised deals always include our fees so the investors can pretty quickly work out the numbers and see it it works for them.
    Cheers
    Hi Maree - I'm on your database but have yet to buy one from you - just struggling a little to find the fee on your listings.
    As an example, what's your fee on this deal?
    http://www.ifindproperty.co.nz/prope...kura-auckland/
    Thanks!


 

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