{"id":3864,"date":"2015-03-26T01:00:42","date_gmt":"2015-03-25T14:00:42","guid":{"rendered":"http:\/\/realestatetalk.com.au\/?p=3864"},"modified":"2015-03-26T01:00:42","modified_gmt":"2015-03-25T14:00:42","slug":"how-to-find-a-professional-auction-bidding-agent","status":"publish","type":"post","link":"https:\/\/channels.realty.com.au\/realtytalk\/how-to-find-a-professional-auction-bidding-agent\/","title":{"rendered":"How to find a professional auction bidding agent?"},"content":{"rendered":"

 
\nJacque Parker<\/b> from Real Estate Buyers Association tells us how to find the best real estate agent to bid for you at auction and what you should be aware of.
\n <\/p>\n

Transcript:<\/h4>\n

Kevin<\/b>:\u00a0 There once was a time when if you went to an auction and you wanted someone to bid for you, it would be quite normal for you to ask a real estate agent who may, in fact, also be working for the seller. But when you think about it, it really doesn\u2019t make a lot of sense, does it?
\nWe\u2019re seeing the emergence of buyer\u2019s agents around Australia, too. They even now have their own association, which is called the Real Estate Buyers Association of Australia<\/a>. President of that organization is Jacque Parker who is also a buyer\u2019s agent and works with House Search Australia.
\nJacque, thank you for your time.
\nJacque<\/b>:\u00a0 Pleasure, Kevin, as always.
\nKevin<\/b>:\u00a0 It doesn\u2019t make a lot of sense to have a seller\u2019s agent who is working for the seller to actually bid for you at an auction. I guess it\u2019s a bit like asking a crocodile if it\u2019s time to go for a swim.
\nJacque<\/b>:\u00a0 I don\u2019t know about that analogy, but definitely, buyers need to be aware that vendor\u2019s agents \u2013 obviously \u2013 have a conflict of interest when it comes to representing buyers at auction, because they are paid by the vendor and they have a fiduciary responsibility to their sellers.
\nKevin<\/b>:\u00a0 It is a bit of a conflict of interest, but what if you have a seller\u2019s agent who wasn\u2019t actually working for the seller? Is that a little bit different, Jacque?
\nJacque<\/b>:\u00a0 If you have a real estate agent who is licensed appropriately and they\u2019re acting for the buyer, they still should have an agreement in place with that buyer as they\u2019re acting in a capacity as a buyer\u2019s agent in that circumstance.
\nOne would hope that they would have an agreement for even just auction bidding and have paid them a fee for doing so. It is very clear to me that even though real estate agents can act for buyers, they do need to be representing the buyer fairly, and the only way that that can happen is via a transaction and a fee accruing.
\nKevin<\/b>:\u00a0 Is there an agreement covering just the activities that a buyer\u2019s agent would put in? Is that like an appointment to act?
\nJacque<\/b>:\u00a0 Most definitely, yes. With our clients \u2013 as with most buyer\u2019s agents \u2013 we would have a written agreement drawn up as well as a written authority to bid form, which stipulates the maximum bid that the buyers are willing to go to on the form. That is signed off by the client, the buyer, and also the buyer\u2019s agent.
\nKevin<\/b>:\u00a0 Do you normally get one of those agreements unique to each property, or can you get one that takes you across a number of properties just through a negotiation, Jacque?
\nJacque<\/b>:\u00a0 It does depend on how many times the buyer\u2019s agent has worked for a particular client. If he has a client \u2013 for example \u2013 who is a one-off, you still need a written agreement, but you can vary the terms of the agreement to cover so many auctions. It really is up to the individual\u2019s buyer\u2019s agent and client.
\nKevin<\/b>:\u00a0 I said at the start of this chat that the number of buyer\u2019s agents around Australia is growing. Is it growing stronger in any state over any other state?
\nJacque<\/b>:\u00a0 I can\u2019t say for sure with the numbers, although looking at the membership within REBA<\/a> \u2013 the Real Estate Buyer\u2019s Agents Association \u2013 since I have been president, in the last two and a half years, the numbers have increased by more than 100%. Our membership base has grown, so it is very clear to us that the buying public is seeking representation definitely more than they were even two or three years ago.
\nKevin<\/b>:\u00a0 Does a buyer\u2019s agent have to be a member of your association or any association?
\nJacque<\/b>:\u00a0 No, they don\u2019t. Just like any industry, they don\u2019t need to be a member, but it certainly helps if you are going to be looking for someone to act on your behalf that they are a member of an organization that has accreditation in place like ours and also to make sure that the buyer\u2019s agent is experienced \u2013 they\u2019ve been around for a while and they know what they\u2019re doing.
\nKevin<\/b>:\u00a0 Being a member of your organization, does that offer the buyer any special privileges or any special protection?
\nJacque<\/b>:\u00a0 Yes, it does, Kevin. All of our buyer\u2019s agents within REBA are appropriately insured. They are also fully licensed, and they have to have a minimum experience in the field of two years. That provides, I think, some comfort to buyers knowing that they\u2019re dealing with someone with experience and with the right credentials.
\nKevin<\/b>:\u00a0 A couple of important things have come out of this chat with Jacque. One is the fact that if you want someone to bid for you at auction, make sure that they are a registered buyer\u2019s agent and more particularly, make sure they are a member of an association like the Real Estate Buyer\u2019s Association of Australia<\/a>.
\nMy guest has been Jacque Parker. She is the president of that organization, also from House Search Australia.
\nJacque, thank you so much for your time.
\nJacque<\/b>:\u00a0 My pleasure, Kevin.
\n <\/p>\n","protected":false},"excerpt":{"rendered":"

  Jacque Parker from Real Estate Buyers Association tells us how to find the best real estate agent to bid for you at auction and what you should be aware of.   Transcript: Kevin:\u00a0 There once was a time when if you went to an…<\/p>\n","protected":false},"author":176692471,"featured_media":3865,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[10,25],"tags":[101],"class_list":["post-3864","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-kevin-turner-sponsored-channels","category-sponsored-channels","tag-podcast"],"yoast_head":"\nHow to find a professional auction bidding agent? - Realty Talk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/channels.realty.com.au\/realtytalk\/how-to-find-a-professional-auction-bidding-agent\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"How to find a professional auction bidding agent? 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