What is Buyer's Agent?

From commerce.wa.gov.au:

A buyer's agent provides a service directly to consumers looking to buy real estate. Buyer's agents offer a number of different services, ranging from researching a single property to undertaking a complete search of available property, even evaluating and then negotiating the purchase of property on behalf of the buyer. The key difference between a buyer's agent and a traditional selling agent is who they represent. A buyer's agent works exclusively for the buyer, whereas the selling agent works for the vendor or seller.

Although not everyone will want to use a buyer's agent when purchasing a property, if you are purchasing a property in a region or category you are not familiar with or have difficulty accessing property market information, then a buyer's agent may be able to assist you.

Read in more details here.

About Easy Buyer's Agent

Found by Tommy Segoro in 2018 and albeit new as a company, Tommy however, has had more than 10 year experience in property investment specialising in passive investing. Our vision is simple: that is to help client buying the right property and provide as seamless experience as possible.

Having owned more than 5 investment properties, Tommy knows that to buy the right property rather takes a lot of time and effort. And having experienced purchasing a bad investment himself and losing money, he realises that without settling on the right property, clients are simply planning to fail.

This is why he started Easy Buyer's Agent because through this service, Tommy hopes that he can help clients buying the right property while being isolated from all the stress such as doing the research, dealing with Real Estate Agents, negotiating, property inspecting and managing builder.

Why Easy Buyer's Agent

- Client's First. Whether you're coming to us a paying client or just simply someone sending an inquiry, we never treat you as if you're just a number. You matter to us.

- Seamless Experience. We are doing our best to give you the most seamless experience in your property purchase process. That is to be very helpful, upfront and honest with you so that you know exactly what you're entering yourself into. We communicate and don't drop the ball on you and leave you in limbo.

- Defensive Calculation. Our analysis and calculation on every property we source is very defensive, thus, minimising risks and maximising returns.

Our Story

Lost $50,000 Financially and $1,000,000 Psychologically

It was 2006 and I was 23 at that stage. I remembered I had the privilege to earn my first 6-figure salary on my job as an IT Programmer. I didn't come from an investor family. My parents worked hard to get to where they were, and the same teaching was passed down to me: “Work hard, earn a good salary and you'd be fineâ€. While I must admit I didn't do too bad at my job, and yes, since then I had always been earning a good income, however, one idea suddenly changed the course of my life.

It was this idea called “saving tax through property: negative gearingâ€. Some of my close friends knew about my salary increase, and they started to mention about saving more tax. While you can always salary-sacrifice by buying laptops or gadgets, the savings were rather minimal. However, when you used property, the savings could be substantial. So naive I was, and so were my friends, I bought into the idea.

And not just that, I had to admit, receiving my first 6-figure salary was rather flattering. I felt as if I was a “big boy†already. And this made my head big. This feeling of wanting to show off to my friends that I was somebody compounded by the idea of “saving tax through property†made me buy my first investment property. As you know, owning a property is the Australian's Dream. But not just for Australians, me especially as an Asian, I was taught by my parents that to be a real man you gotta own a house. “The girls wouldn't consider you otherwiseâ€. Trust me, you might not agree with this, but that's the reality in the country I'm from: Indonesia.

So, did I buy my first investment property. While it wasn't a bad idea at all, the problem was, I didn't research (nor knew how to), didn't do financial calculations and projections (nor knew how to), I simply bought based on emotion. My and my parents visited the property and we liked it. Lesson number one, write this down, NEVER EVER buy an investment property based on whether you like it or not. If the numbers didn't stack up, DON'T BUY IT!

The property was around 5 years old at the time, and building depreciation was already very minimal then. If you're a savvy investor you would know by now that building depreciation would help your cashflow so much. So, I was almost exempted from this. I bought it at the peak of the boom, and the property I would say wasn't in the best condition and needed some repairs along the way.

I bought it for $440,000 in 2006. Interest rate was around 8% at the time. It was rented for $420/week. Compounded by minimal depreciation and all other costs (repairs, maintenance, agent fee, etc), it cost me around $10,000 to hold onto the property. I didn't realise how much it cost me to hold until few years after, when I started to feel the pressure of having to fork out thousands of dollars every month from my own savings. Every time I looked at my bank account, I kept having to transfer at least $1,000/month to pay for the mortgage and costs. And even worse, came tax return time, the money I got wasn't too pleasing.

Then it started to dawn on me that something wasn't right.

I opened MS Excel and started to jot down the numbers. Long story short, it cost me around $10,000/year to hold onto that property. It was 2012 and I decided enough was enough. I sold the property for $450,000......which was only $10,000 increase from the original $440,000 purchase price. The problem was, as it cost me $10,000/year to hold, having had it for 6 years meant it has cost me $60,000, thus, a $50,000 loss.

That's how I lost $50,000 financially and $1,000,000 psychologically. The thought of “how stupid I was†haunted me for few years. Think of it this way: what can you do with $50,000? A lot, right?

From that moment on I decided to be a more savvy investor. Along the way I actually heard so many similar stories from my friends and families ie. how they lost money buying just “any†property. Or just buying in the suburbs which they heard “would increase in value†from their friends at a BBQ lunch. They didn't do any calculations (nor knew how), and simply bought blindly just because they had the money and could.

Because of this, I was motivated to start this Buyer's Agent business. As a Buyer's Agent I want to be the companion of my client's journey when purchasing properties in a way that I would help them settling on the right property. We all know that property is a long game, however, if you're like me ie. keep losing $10,000 a year, to hold to that property for 30 years would have cost me at least $300,000! And that's not to mention the mining downturn, a reduction of rent price, the maintenance and keep-up costs that keep increasing, etc.

So, that's what this business is about. You as an investor, you just need to come up with the money, and let me deal with all the hard work: from the property research, dealing with real estate agents, negotiation, managing builders, inspections, etc. All you need to know is, you are settling on the right property.

You know how much time is required to buy the right property, don't you? The research alone: to find the right suburb, the rental yield, the location, the potential demands, etc would take you hours if not weeks to accomplish. And this has to be done in the midst of your busy life with full-time work, family responsibilities, etc.

As a client of ours you would receive our Investor Report on every property we suggest to you. That way, you know the numbers so that you're not just going in blindly to buy any property. Without buying the right property, you would only expect headache and loss of money, just like what I went through.

And not just that, our business is just not for investors. If you are first home buyers or owner occupiers, you realise how daunting it is to buy property, isn't it? Especially if you're a first home buyer, you often don't have a lot of experience in buying a property, especially building. And how many times have you heard first home buyer build project went wrong, and they started to blame the builder, etc? While it was true that the builder might not have done a great job, however, this risk can be minimised at the start.

This is where our value comes in, that is to be your companion in your property buying journey.

So, if you are keen to know more about our services, please visit our website https://easybuyer.com.au or call Tommy on 0404 457 754, or email info@easybuyer.com.au.

Other than that, I thank you so much for taking a time reading this article.

PS: I have bought 5 investment properties worth more than $2mil since and am in the process of acquiring a few more.

 

Tommy Segoro
Principal Consultant
Easy Buyer's Agent

 

Email

info@easybuyer.com.au

Phone

+61 404 457 754

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