Buyers’ agents (or buyers’ advocates) are licensed professionals that
Put simply, a buyers' agent is someone on your side!
The key difference between a buyers’ agent and a traditional selling agent is who they represent. A buyers’ agent works exclusively for the buyer, whereas the selling agent works for the vendor (seller). A buyers’ agent is paid for their service as either a fixed fee or as a percentage of the purchase price. A buyers’ agent does not sell real estate. By
Be careful in dealing with a buyers’ agent (or buyers' advocate) that is situated within a traditional sales office.
They would have an inherent conflict of interest or bias in recommending their own local stock of listings. Exclusive property buyers’ advocates will search the entire market and not have a vested interest in any specific property or selling agency.
A good quality Sydney buyers’ agent or buyers' advocate should undertake five key steps in delivering their services.
Searching the internet, calling agents, arranging inspections and viewing properties every weekend for months on end can become a very tiring process. Professional buyers’ agents will have an extensive and established network of real estate agents to draw on to produce a qualified list of properties to suit your preferences.
The average home buyer or investor typically takes 6 to 12 months to get to know the local market, find properties and eventually secure one (by which time a rising market may have seen prices rise over 10%). Even with all the latest apps and online tools, it still takes time to vet the vast array of options and work out what is worth inspecting. With a qualified Sydney buyers' agent on your side, this process can take a little as 30 days.
A skilled real estate buyers' agent will be able to save you a lot of money! As they are in the business of buying properties on a daily basis they become very proficient at negotiating. A Sydney buyers' advocate will protect you from making an emotional purchase – they don’t have a vested interest in the property so they can negotiate objectively on your behalf.
Negotiating is an art – especially when dealing with real estate agents. Selling agents have lots of tricks and tactics to use on unsuspecting buyers.
An expert buyers' agent will be able to level the playing field and give you the upper hand in negotiations.
Knowing the local property market values intimately they will be able to provide you with confidence you are paying the right price. When it comes to bidding at auction, the
Let’s face it – dealing with real estate agents is not top of everyone’s priority list. Research has shown that selling agents rank poorly on the trust scale of professionals (doctors at the top car salesman and real estate agents on the bottom). Using an experienced and
Underquoting is a common practice that is causing many buyers incredible frustration. A skilled Sydney property buyers' agent will be able to determine in a heartbeat if the price quoted is realistic and if you have a chance of securing the property. Having a buyers' advocate on your side means you get the truth about the market, the property and what needs to be done to buy it successfully (without the selling agent knowing you are emotionally attached).
Discover silent listings: We can uncover the other 40% of properties sold on the quiet.
Did you know that our property buyers' advocates in Sydney can uncover many “off-market” opportunities for you to view?
With a wide network of agents at their disposal, the buyers' agent can get access to new listings before they hit the open market. Some vendors prefer to sell on the quiet and avoid the hassle of open inspections or avoid marketing fees. Sales agents like dealing with buyers' agents as they present a qualified buyer, with finance approved and ready to buy.
Off market opportunities abound in the prestige market with a very high percentage sold in this manner. Privacy and discretion are the main reasons for luxury property vendors choosing a silent listing method of sale. Buyers' agents are usually the first to be notified of these opportunities.
Whether you are buying a home or investment property, selecting the right suburb is paramount
The investment buyers’ agent will provide research on the areas recommended then commence shortlisting specific properties that fit the investment criteria.
This removes the
A buyers’ agent is paid for their professional service as either a fixed fee or as a percentage of the purchase price. Buyers’ Agents typically offer three main services - full search, appraise and negotiate and auction bidding. The fees may range from 1.5% to 3% of the purchase price or the flat fee equivalent. Buyers agents generally charge a smaller amount upfront as an engagement fee which forms part of the total fee to ensure commitment by both client and buyers agent.
The majority of buyers agent set fees around three main services:
Most professional buyers’ agents charge an engagement fee as a form of retainer. This is simply compensation for the amount of time and effort the
The total buyers’ agent fee will depend on your specific requirements, search parameters, budget and degree of difficulty. It’s important to understand you are engaging a professional property consultant to act impartially as your representative in searching and negotiating for your next home or investment property. Beware of selling agents masquerading as “Buyers’ agents” within a sales agency and only presenting their own listings.
Propertybuyer is Australia’s most awarded buyers’ agency that helps you locate your dream home or investment property. Established for over 19 years, credited with over 34 Awards for Excellence and over 3000 transactions completed, the propertybuyer team has the experience, credentials and utmost integrity to deliver the best buyers advocate service.
Our team of local experts provides independent advice and excellent support to help you find and negotiate your ideal property. CEO & Founder Rich Harvey says “Buyers’ Agent's should have professional support at each step of the buying process to save time searching, understand current market values, and avoid over-spending by making an emotional buying decision.”
Buyers’ Agents provide a lot of value to property buyers. Buyers’ Agents can help you find and evaluate the ideal home, save you time, negotiate the lowest price and remove emotion and stress from the buying process. Their local expertise will help educate you on current market value and they should have deep connections with local agents to find off market opportunities.
A buyers’ agent is a licenced agent that works solely and exclusively for the buyer and assists in all aspects of the buying process - from searching, shortlisting, evaluating and negotiating. A Realtor, on the other hand, is someone working for the vendor in selling a property and helps with marketing, advertising, conducting open homes, auctions and private treaty negotiations.
Look for a Buyers Agent that you can trust and has your best interests at heart, has at least 5 years experience, excellent local knowledge, credibility, strong track record and good relationships with agents. Ensure you choose an “Exclusive” buyers agent - someone that only works for buyers and does not sell property. Ensure they have good research systems and are strong negotiators.
Buyers Agents usually charge a flat fee or a percentage fee based on the price point of the property you are seeking to purchase. Buyers agents charge this fee as a consideration of the time, effort, research, established networks and advice they provide to buyers seeking to purchase a suitable property that meets the buyers requirements.
In Australia, the seller does NOT pay the buyers’ agent fee. Buyers agent fees are paid for by the purchaser for representing them in the buying process - assisting them with searching, shortlisting, evaluating and negotiating the best price for the target property.
To be classified as a Buyers Agent, you must hold the relevant real estate licence within the state you are purchasing. You cannot represent yourself as a buyers agent without the required licence and professional qualifications. A reputable buyers agent would also have many years experience, deep local networks and a good track record. Outsourcing the buying process to a professional buyers agent can save buyers significant time, money and stress.
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