Cost of a Buyer's Agent vs Sellers Agent | Who’s Really in Control When You Buy Property?

By Munro Donen, Director & Principal, Propertybuyer East propertybuyer.com.au

Next Level Wealth 

Is the seller’s agent working for the buyer?

Many buyers lose out on thousands of dollars by mistakenly trusting that the selling agent represents their interests when purchasing a home. The reality is that the selling agent works for one party… the vendor.

They're being paid by the vendor to achieve the highest possible price. The selling agent cultivates relationships with potential buyers. They'll strike up easy conversation and show interest in what each buyer has to say. They are doing their job, so don't be fooled as they working on behalf of their vendor to achieve the highest possible price.

Selling agents are trained and skilled and they may be working on an emotional connection to the property to create competition. They'll typically highlight those features that will meet the needs of their potential buyers. Selling agents will want to learn more about a buyer’s real budget to extract top dollar.

Make no mistake, they're not looking to do a deal for the sake of being friendly. They are there to drive competition, and everyone is a prospect for doing that. I've seen many buyers pay far too much for a home because they didn't truly understand the selling agent's job. The good news is that there is a way to avoid this. You don’t have to fall into that trap. If you want to avoid paying too much for your next home or investment property, speak to the expert buyers' agents at Propertybuyer. We work exclusively for you, not the seller. 

How buyers' agents save you money and put you at the front of the line

Working with a buyers' agent will not just save you money, but also get you the right home without paying a dollar more than necessary.

How does an everyday buyer know what the competition is? They don't!

Working with a buyers' agent means that because of the relationships and communications between them and the selling agent, you'll get a far better understanding of who your competition is and where they're at. Have you been looking for a long time or losing out? Consider that when a selling agent has a buyer with specific requirements who keeps knocking back listings, they could quickly go to the bottom of that agent's call back list as a serial looker who's never going to transact.

Buyers' agents cut through this because they take the pain away of inspecting and vetting properties and filtering out unsuitable properties that don’t match your brief. We prequalify our clients’ requirements, and we have a defined list of what the buyer needs. We give quick 'yes' or 'no' answers to agents, which they appreciate.

Working with a buyers' agent puts you at the front of the selling agent's queue. As such, we get to hear about pre-market deals before everyone else. We can also educate buyers on what is a good buy for them. We use a solution-based approach to come up with options so that our clients can see the potential that certain properties may offer.

Buyers' agents understand that listing "price guides" are designed to create competition, and AI-generated market estimates are considered to be unreliable. As experienced experts who are on in the field day in and day out, we have a far better understanding of what a property is truly worth and what it may sell for.

Remember too that buyers' agents don't just talk to the selling agent listing that property, we also connect with other top local agents, and there's a good chance one of them lost out on the listing and through them we can uncover priceless information that would work to your benefit. After all, hell hath no fury like an agent scorned who has just lost a listing!

Disclaimer – We know most of you get this, but just to be clear, the information above is general and doesn't consider your unique situation. Please don't rely on it as a substitute for professional advice. We strongly encourage you to seek appropriate guidance for your specific needs.

 To have one of our friendly Buyers' Advocate's contact you, click here to:

   or

call us on 1300 655 615 today.