INVESTORS - What Is A Buyers Agent?

A Buyers Agent is a licensed professional regulated by relevant State-based governing bodies. Buyers Agents establish property buyer requirements, research specific locations and properties based on those requirements, analyse specific areas and properties AND negotiate the deal. Buyers Agents should not sell real estate, therefore they work exclusively for the buyer.

It is a legal requirement that Buyers Agents must not act for (and charge a commission to) both the buyer and seller in the same transaction. Given that Buyers Agents should act exclusively for the buyer, this should not be an issue.  

What should you look for in a Buyers Agent?
In Australia the concept of a Buyers Agent is relatively unknown. In fact many people call themselves Buyers Agents or Buyers Advocates when clearly they are not. All Buyers Agents are not the same and there are several critical things you must look out for.

A professional Buyers Agent should:

• be licensed with the relevant State governing real estate body. For example in NSW and Queensland the relevant governing body is The Office of Fair Trading
• charge you (the buyer) a fee – if they don’t, you need to ask them: ‘who is paying your fee?’ Most often you will find it is the seller (or developer). If this is the case, they are not working with your best interests at heart
• be an experienced property investor in their own right – if a Buyers Agent intends helping you invest in property, it stands to reason that they themselves should invest
• have professional indemnity insurance – this protects you in the event of something going wrong
• act exclusively for you (the buyer) – this ensures your Buyers Agent is totally independent therefore eliminates the possibility for conflict of interest
• have a written agreement with you, specifying the services to be provided, fees to be charged together with a payment schedule, terms of the agreement and the client's options and obligations for termination of the agreement
• reveal any financial or other benefit received or to be received in relation to any property or service they are recommending

So now you have a choice…
Whether your goal is to begin building a property portfolio, add to your existing portfolio OR locate that perfect little place to call home, now you have a choice.
You can spend endless hours researching, inspecting and negotiating your property purchase and risk buying the wrong property OR use a professional Buyers Agent and give yourself the best possible chance to make money in real estate.

You CAN make money in the lucrative Australian property market – BUT you need to take action, like so many of our clients have already done. 

We are professional Buyers Agents and would love the opportunity to discuss your goals and how we can work together to ensure those goals are achieved. Flick us an email or contact our office on 1300 507 559 for a free, no obligation chat and let us explain how WE can help YOU!