Should you use a buyer’s agent?
A buyer’s agent assists people who are buying a property. They are becoming more common in Australia, though they will charge a fee for their service (usually based on a percentage of the property’s sale price) so you need to consider if your budget can handle an extra cost.
There can be some pluses to using a buyer’s agent:
- You may get access to more properties, including those that aren’t advertised, through the agent’s contacts and network
- You can make better use of your time. Instead of searching the newspapers and internet every weekend, someone else does the hard work short listing suitable properties on your behalf
- You’ll have a professional negotiator who can help obtain the lowest possible price. This can be handy when it comes to auctions
- You’ll eliminate wasted time from being shown inappropriate and unsuitable properties by real estate agents
- Many properties sold are ‘silent sales’ that are never publicly advertised. A buyer’s agent can help you find these
Always check that the agent is licensed and does not accept sales commissions from vendors or developers – if they do, they are not acting entirely in your interest.
A good place to find a buyer’s agent in your area and get an idea of fees is the Property Buyer’s Agents Association of Australia.
Continue to information about your property search checklist.