What is a Buyers Agent?

In Australia, a buyer's agent is a licensed real estate professional who works exclusively for you, the buyer. They assist buyers throughout the property purchase process, providing expert advice, guidance, and representation.

Buyer's agents, also known as buyer's advocates, act as fiduciaries, meaning they have a legal and ethical obligation to act in the buyer's best interests. They work independently from real estate agents who represent sellers, ensuring buyers have dedicated representation and advocacy during the property transaction.

The primary responsibilities of a buyer's agent include:

1. Property Search: Buyer's agents help buyers identify and shortlist properties that meet their requirements, considering location, budget, amenities, and future growth potential. They may use their industry connections, databases, and market knowledge to access off- or pre-market listings.

2. Property Evaluation: Buyer's agents conduct thorough due diligence on properties of interest, assessing factors like market value, comparable sales, potential rental income, and any issues affecting the property's value or desirability. They provide objective analysis and advice to help buyers make informed decisions.

3. Negotiation: Buyer's agents are skilled negotiators who work on behalf of buyers to secure the best possible purchase price and terms. They leverage their knowledge of the local market and real estate trends to negotiate with sellers or their agents, aiming to achieve a favourable outcome for the buyer.

4. Auction Bidding: In Australia, where auctions are a standard method of property sale, buyer's agents often attend auctions to bid on behalf of their clients. They have experience in auction strategies and can confidently represent buyers in a competitive bidding environment.

5. Contract Assistance: Buyer's agents help buyers navigate the complexities of property contracts, ensuring that all terms and conditions are understood and met. They may work closely with solicitors or conveyancers to review contracts, identify potential issues, and provide advice on the legal aspects of the transaction.

6. Post-Purchase Support: After a property is purchased, buyer's agents may provide ongoing support and assistance, connecting buyers with trusted professionals such as property managers, tradespeople, or financial advisors if needed.

Buyer's agents typically charge a fee for their services, which can be structured as a flat fee, a percentage of the property's purchase price, or a combination of both. The fee structure and services provided may vary among buyer's agents, so discussing and agreeing upon the terms is important before engaging their services.

Overall, a buyer's agent in Australia is a dedicated advocate for property buyers, helping them navigate the real estate market with expertise and ensuring their best interests are represented throughout the buying process.

Is it worth it?

If you want to save time, money and stress, then yes. The decision to use a buyer's agent ultimately depends on your personal circumstances, preferences, and the complexity of the real estate market you're dealing with. Here are some factors to consider when determining if it's worth using a buyer's agent:

1. Expertise and Market Knowledge: Buyer's agents have in-depth knowledge of the local real estate market, including property values, trends, and off-market opportunities. Suppose you're unfamiliar with the market or need more time to research extensively. In that case, a buyer's agent can provide valuable insights and save you time by identifying suitable properties.

2. Access to Off-Market Listings: Buyer's agents often have access to off-market listings or properties not widely advertised, which can give you an advantage in finding properties that align with your requirements. This access may be particularly valuable in competitive markets or when seeking unique or specialized properties.

3. Negotiation Skills: Negotiating a property's purchase price and terms can be challenging, especially if you need to become more experienced in real estate transactions. Buyer's agents are skilled negotiators who can leverage their expertise to help you secure a property at the best price on your terms.

4. Time and Convenience: Searching for properties, attending inspections, and dealing with the paperwork involved in a property purchase can be time-consuming. A buyer's agent can handle these tasks on your behalf, saving you time and reducing the stress associated with the process.

5. Objectivity and Advocacy: Buyer's agents work exclusively on behalf of buyers and have a legal and ethical obligation to act in their best interests. They provide independent advice and advocacy throughout the transaction, helping you make informed decisions and navigate potential pitfalls.

To determine if using a buyer's agent will benefit you, organise a free and confidential consultation today. 

Are buyer's agent's fees tax deductible?

In some situations, the buyer's agent fee may be considered a tax-deductible expense if the property is acquired for income-producing purposes, such as rental or investment properties. The fee may be claimed as a deduction against the rental income earned from the property, reducing the overall taxable income.

However, suppose the property is purchased for personal use, such as a primary residence. In that case, the buyer's agent fee may not be tax-deductible.

It's important to note that tax laws and regulations can change, so it's crucial to consult with a professional who stays up to date with the current tax legislation in Australia. They will provide the most accurate and relevant advice regarding the deductibility of buyer's agent fees in your specific situation.

Do Buyer's Agents save their clients money?

Yes, buyers' agents can save money for their clients in several ways. Here are a few ways they can save you time, stress and a lot of money. If you would like to call some of our previous clients, we would be happy to provide you with a list of names and numbers.

1. Negotiation: Buyer's agents are skilled negotiators who can help clients secure the best possible deal on a property. They know market trends and comparable sales data and can assess a property's actual value. By negotiating on behalf of their clients, they can often secure a lower purchase price or favourable terms, saving you money.

2. Access to off-market listings: Buyer's agents have access to a wider range of properties, including those that may not be listed on public platforms. This can give buyers more options and help them find a property at a lower price, as there will be less competition.

3. Knowledge of the local market: Buyer's agents have a deep understanding of the local real estate market, including neighbourhood trends, pricing dynamics, and market conditions. This knowledge allows them to guide their clients towards properties that offer good value for money and avoid overpaying.

4. Due diligence: Buyer's agents can assist with conducting thorough due diligence on a property, including inspections, title searches, and documentation review. Identifying potential issues or problems can help buyers avoid costly surprises or make informed decisions about the property's true value. Even negotiating the price further down during the under-contract phase using the building and pest inspection.

5. Network of professionals: Buyer's agents often have a network of professionals, such as home inspectors, appraisers, and mortgage brokers, whom they can recommend to their clients. These professionals can provide their expertise at competitive rates, helping buyers save money on various aspects of the home-buying process.

While hiring a buyer's agent may involve some upfront costs in commissions or fees, their expertise and guidance will lead to cost savings during the home-buying process. We have saved tens of thousands of dollars for every client.

What is the free 30-minute consultation?

A free buyer's agent consultation is a meeting or conversation between a potential buyer and a buyer's agent. The agent provides information, advice, and guidance related to the home-buying process. This consultation is typically offered without any cost or obligation to the buyer.

During a free buyer's agent consultation, the agent will typically:

1. Discuss the buyer's specific needs and preferences: The agent will ask questions to understand the buyer's desired location, budget, property features, and any other relevant factors that can help narrow down the search criteria.

2. Explain the home buying process: The agent will provide an overview of the home buying process, including the steps involved, timelines, and potential challenges. They may also explain the role of a buyer's agent and how they can assist the buyer throughout the process.

3. Offer market insights: Buyer's agents know the local real estate market and can provide information on current market conditions, trends, and pricing dynamics. They may share data on recent sales, available listings, and potential opportunities.

4. Answer questions and address concerns: The consultation allows the buyer to ask questions or express concerns about the home-buying process. The agent will provide answers and guidance based on their expertise and experience.

5. Discuss the agent's services and fees: The buyer's agent may outline their services, including property search, negotiation, and transaction management. They will also explain their fees or commission structure, if applicable.

The goal of a free buyer's agent consultation is for both the potential buyer and the agent to assess whether they are a good fit to work together. The buyer can gain valuable insights and advice without any financial commitment, and the agent can understand the buyer's needs and determine if they can provide the necessary assistance.

We can only handle a few select clients at any given time. If we can add value to your search and are 100% certain we can save you time, money, and stress, you will be the right fit for us. If not, that is also ok. We can still point you in the right direction for free.

What's the cost?

Buyer's Agents will typically charge an upfront retainer plus a commission after a successful purchase. The upfront retainer is generally around $3,000 to $5,000, depending on your situation and brief. The commission structure will be a percentage of the sale price between 2.5% (+GST) and 3.0% (+GST). This could also be structured as a fixed fee. If you are a first-time buyer, we offer a unique, more affordable package.

After the free consultation, we can provide you with a tailor-made fee structure once we have a much better understanding of what you are trying to achieve.

What is an ‘Off-Market’ property?

These properties are not advertised for sale or available to the average buyer.

They can be sourced in 2 different ways:

1.    Directly contacting owners in your search area via door knocking, cold calling, letter box dropping and utilising handwritten letters

2.    Using our network of local sales agents and accessing their off-market listings. Sales agents will only share these with buyers agents they know, trust and have dealt with before.

Typically, people sell off-market for various reasons, which can benefit you, the buyer. It could be any of the following reasons.

·       Financial hardship

·       Deceased estate

·       Divorce

·       Private people

·       Not everyone wants to hold open homes on their property

·       Some owners can’t afford to prepare and market their property online

·       Not everyone trusts real estate sales agents

·       Some people don’t consider selling until there is an offer in front of them

·       For sale by owners

·       Sometimes, we get them at the right time just as they have started to think of selling

·       The owners may be famous

Our clients have all had the luxury of getting access to off-market properties that match their brief and budget.

If you would like access to off-market properties, contact us today.

What is a ‘Pre-Market' property?

Coming Soon

What is a ‘On-Market' property?

Coming Soon