Why Become a Buyer’s Agent?

Why Become a Buyer’s Agent

Maybe you’re working 9 to 5 in an unfulfilling office job, or you’re out on the road each day doing something that really isn’t bringing you joy. It doesn’t have to be like this… 

A career in property buying can open up a number of doors that you may not have ever known existed. With a can-do attitude and a willingness to learn, regardless of your work history, you can build a successful career as a buyer’s agent that could see you earning up to six figures in your first year. Plus, you get to help people secure their dream property in the process. It’s a win-win all round! 

If you’re not already convinced, here are some of the reasons why you should consider becoming a buyer’s agent today. 

Build Property Market Knowledge 

Whether you have experience working in the property industry or not, becoming a buyer’s agent will provide you with the market insights needed to navigate the often tricky path of property buying. Working in the property industry will ensure you understand what types of property are in demand, what the trends are for pricing in particular suburbs, where gains can be made and more. There’s so much more to understand than what you just read on property sites, and the first hand experience you gain working in the market will set you up as a property market guru.

Develop New Skills  

It’s easy to become stuck and to feel like you’ve reached your capacity when it comes to your skills and capabilities. That does not need to be the case. Working as a buyer’s agent will give you the opportunity to build so many new skills that you may not have had the chance to develop. 

Don’t see yourself as a good networker? Not confident when it comes to negotiating contracts? Preparing to become and working as a buyer’s agent will arm you with an array of new skills that will push you to achieve more than you ever thought possible. 

From designing a business, acquiring clients, establishing industry relationships and more, you’ll have the chance to learn so many life defining skills, setting you on the path to success. 

Achieve Financial Success 

Did you know that property buying is one of the fastest growth markets in Australia? If you’re passionate and committed, working as a buyer’s agent can deliver huge financial rewards that you might not have thought possible. The market is only getting bigger and bigger, and now is the opportunity to carve yourself out a piece of the pie.

Watch our free webclass to understand how you can replace your 9 to 5 income as a buyer’s agent. 

Help Others 

Have you spent the majority of your working career doing something that doesn’t really benefit others? At least not directly? 

 

Becoming a buyer’s agent gives you the opportunity to really make a difference in the lives of others. Working closely with your clients, you can help them to find the property of their dreams and to achieve financial success. 

There’s no better feeling than the satisfaction you’ll get from repeat business and positive client referrals.

Flexibility, When You Need It 

Tired of full time work? A career as a buyer’s agent can give you the flexibility needed to set your own hours and pace for work. If you’re working for yourself, you can decide how many clients you want to take on, giving yourself the time to pursue other passions and priorities. 

It’s time to say goodbye to the 9 to 5! 

Take Charge of Your Career  

One of the most exciting things about starting a career in property buying is the opportunity to hit the reset button and really enter a new career with guns blazing. Instead of waking up dreading having to start your day, you’re going to feel passionate and optimistic about what you can achieve for yourself and your clients. 

The Buyer’s Agent Institute will give you all the practical skills and tools necessary to become an agent for change and build a successful career as a buyer’s agent.

How to Become a Buyer’s Agent? 

Get in touch with the friendly team at the Buyer’s Agent Institute to learn how you can kickstart your new career today. What are you waiting for – the time is now. 

How to Become a Buyer’s Agent

Are you looking to change your life and move in an exciting new direction? Tired of feeling like what you do is not making a difference and that you’re just another cog in the wheel? 

Whether you have a passion for property or are motivated to help others, becoming a buyer’s agent presents real opportunities for personal growth, fulfillment and success. 

Prior experience in the property industry is not required and your age, employment history, level of education are not barriers to success. Making the change into a career in property buying is entirely within your reach. 

Here’s how you can transition into a full time or part time career as a buyer’s agent. 

Start with learning 

The Buyer’s Agent Institute specialises in providing individuals like yourself with the skills and training needed to become a successful buyer’s agent. 

Through cutting edge systems, practical content and a powerful support network, students are given the tools needed to design their own path to success. 

The team at the Buyer’s Agent Institute will work closely with you to understand your goals and objectives and to help you shape the future that you want. 

All content is delivered online so whether you’re located in Australia or internationally, you can complete the course from anywhere. Even by the pool, if it takes your fancy. 

You may still be working or busy parenting children, so you can learn at your own pace to ensure that you have the time to focus on everything going on in your life that you need to. 

Ben Handler, the founder of the Buyer’s Agent Institute, transitioned himself into a career in property buying and successfully built a multi-million dollar buyer’s agent business employing over 30 staff. 

Everything he teaches is borne from his own experience and in-depth knowledge of the industry. 

If you want to build a high impact business that thrives, then this is the opportunity for you. 

Start with some free training and get in touch with the team to kickstart your career as a buyer’s agent. 

Get licensed 

Once you’ve completed training, you’ll need to register for and hold a license to legally operate as a buyer’s agent. 

In Australia, each state has its own laws and licensing requirements and you’ll need to hold a license for the state in which you plan to buy property in. 

There are generally two types of licenses available and the terminology for each will differ from state to state: 

Individual agent registration 

This registration is suitable for employees 

Full license registration 

This is suitable for agent principals and senior employees. 

Gain valuable experience 

While completing training is going to set the foundation for success for your career as a buyer’s agent, it’s your experience working out in the marketplace which is going to shape and solidify these learnings. 

As you start to build a successful buyer’s agent business, securing more and more clients, you’ll face real world challenges where you will need to apply your skills to achieve favourable outcomes. And with the right training, you will. 

As you buy more properties, you’ll be building more industry relationships and gaining valuable knowledge only attained by working out in the trenches. If you’re let down by a real estate agent who over-promised and under-delivered, you’ll be sure to think twice before working with them again. 

You can’t put a price on experience, but at the same time, you need to start somewhere, so don’t let this hold you back from getting started. 

Stay passionate and committed 

Just because you complete training and get licensed as a buyer’s agent, doesn’t guarantee you success. You’re going to need to be prepared to put in the work needed to get results. 

Having a hunger to learn and a drive to initiate change will be critical in helping you stand out amongst the crowd. 

This is your opportunity to live and breathe property and make the dreams of others a reality. 

Rest assured, the Buyer’s Agent Institute will work closely with you to understand what motivates you, whether it’s making money or helping others, to leverage this as a driving force for your success. 

Become a Buyer’s Agent 

What are you waiting for? Start your new career as a buyer’s agent today. Get in touch with the Buyer’s Agent Institute to find out more about initiating your new career in property.

What are the Differences Between a Buyer’s Agent & a Real Estate Agent?

road and grass

It’s not unheard of for the average punter to say ‘but aren’t buyer’s agents and real estate agents essentially the same’. This couldn’t be further from the truth. While both professionals work within the property industry, it’s from opposite sides that they operate. 

If you’re looking to buy property, it’s imperative that you know who you should closely be working with to ensure you get the best outcome. 

Let’s start with an understanding of each role. 

What is a buyer’s agent? 

Buyer’s agents (sometimes referred to as buyer’s advocates) are licensed professionals that work on behalf of a client looking to buy property. A buyer’s agent can help with every step of the property buying process from searching for properties, evaluating properties and negotiating the final sale. 

A buyer’s agent will typically receive a commission from their client, the property buyer, on the purchase price of a property. 

If a buyer’s agent is only helping out with select parts of the property buying process, for example, attending an auction on behalf of their client, they may charge a one off fixed fee. 

Find out more on how much a buyer’s agent typically costs

What is a real estate agent? 

A real estate agent is also a licensed professional. However, unlike a buyer’s agent, they represent a property seller, arranging the transaction between the buyer and seller. This can include everything from listing the property to negotiating the final sale price. 

Real estate agents are usually compensated based on a commission and this is calculated on the purchase price of a property. Hence, it’s in their best interest to drive the highest price possible for a property seller. 

How they work together  

Buyer’s agents and real estate agents actually work very closely together to ensure they get the best results for their clients. It’s in the best interests of both parties to ensure that good relationships are maintained as both can be pivotal in the success of the other. A real estate agent can leverage the relationships of a buyer’s agent to seed out off market opportunities and minimise costly campaigns. A buyer’s agent will often look to local agents to match up the criteria of their clients to stock listed and potentially unlisted in the area. 

Ultimately, reputation is everything and the way you do business can make or break success. 

Both real estate agents and buyer’s agents can be a powerful source of referrals for new business. 

So who should I work with? 

If you’re looking to buy a new property, it’s strongly recommended to seek out the assistance of a buyer’s agents as they’ll be instrumental in helping you find what you’re looking for. 

Whether it’s a residential property, commercial premise or development opportunity, a buyers agent can save you time, money and stress. Find out more about the benefits of working with a buyer’s agent

If you’re selling a property, a real estate agent is likely to be your best point of call as they’ll have the knowledge and experience needed to get your property out into the market and secure you the best sale price. 

Where they overlap 

What some people might not yet realise is that buyer’s agents can offer many of the same services that a real estate agent offers when it comes to property management. 

A buyer’s agent can help with asset management, property management and the leasing of your property. Buyer’s agents can even work with tenants that are looking to find properties to rent. 

Finding a buyer’s agent 

Unsure whether a buyer’s agent can help you with your property needs? Use our Buyer’s Agent Directory to connect with an agent and find out. 

How Much Does it Cost to Use a Buyer’s Agent?

hands on laptop keyboard

If you’re considering using a buyer’s agent for your next property purchase (and you should be, here’s why), it’s likely that you’re wondering how much it’s going to leave you out of pocket?

Well, how long is a piece of string? Multiple factors can determine how much you’ll end up spending on a buyer’s agent. 

Don’t let this deter you from making this life changing decision. Here’s what you need to know when weighing up costs. 

Fee structure

It’s most common for buyer’s agents to offer clients the following pricing models. 

Commission based 

For a buyer’s agent that is providing you with a full service offering, managing every step of your property buying journey, it’s likely they’ll charge you a percentage fee of the property’s sale price. This will vary from agent to agent, but can be up to 2.5%, plus GST. Remember, this commission may change depending on the type of property they’re buying and the level of service provided. 

Fixed fee 

A fixed fee model is when a buyer’s agent will give you a flat rate cost for a service. This is most commonly applied to select services, as opposed to their full service offering. For example, if you need a buyer’s agent to attend an auction on your behalf, they’ll likely charge you a flat fee for this. 

Retainer 

For both commission and fixed fee there is typically a retainer that is charged up front which can vary between $3K and $5K depending on the budget of the client. 

The remainder of the fee is then payable on exchange. For example, if the total fee is $15K, $3K is paid up front as a retainer and $12 is payable when you go unconditional and exchange contracts.

Why does it cost so much? 

What might seem like a large financial investment at first, is not really not the case. A buyer’s agent acts on your behalf to get you the best outcome. They’ll work tirelessly, taking on many of the jobs that would normally consume a large amount of your time. 

Not only can the time that a buyer’s agent saves you offset their cost, but they could secure you a great purchase price, saving you thousands and thousands of dollars. 

Everything is negotiable 

As a first step, be open in your discussion when selecting a buyer’s agent and have a clear budget in mind. Buyer’s agents can tailor their offering based on your requirements and may be able to accommodate accordingly. In addition, they may be able to offer you a discount as a first time customer. Don’t be afraid to be open in your communication. 

Services provided 

The services provided by a buyer’s agent are going to have a significant impact on how much it ends up costing you. If you’re looking for a high level of involvement that goes above and beyond the standard offering, then it’s likely this will be reflected in the commission rate you pay. 

If you’re really limited by budget, start by engaging a buyer’s agent to assist with the areas you need most help with. This is a great way to test the waters and soon enough you may find yourself wanting help with all areas of your property buying.  

Purchase requirements 

The costs you pay for a buyer’s agents can also be dependent on the complexity of your purchase requirements. Finding and negotiating a residential property can be very different from what’s involved with a development site. 

A buyer’s agent should be upfront with you and clearly outline their fees and how they differ based on the requirements being put forward. 

Saving money   

Buying property is a game and it’s often hard to know whether you’re getting the best deal or not. It’s a buyer’s agents job to act on your behalf to secure you the best possible outcome. 

If there’s a property that you’re interested in that is overvalued, they’ll be upfront and tell you this. If they’re going into an auction batting for you, feel secure knowing that you won’t be spending more than your agreed budget.

The money you invest in a buyer’s agent is money that you may get back through an excellent purchase price you may not have otherwise achieved. 

Tax incentives 

When buying an investment property, clients may be able to claim their buyer’s agent fee as part of the cost base, reducing their capital gains tax when it comes to sell. Speak to your tax advisor to find out what tax advantages are open to you. 

Become a buyer’s agent today 

If you’re buying a lot of property or just have a general interest in the market, you might like to consider becoming a buyer’s agent yourself. 

The Buyer’s Agent Institute offers affordable online training that will empower you to achieve more. Watch our free training to learn more. 

Finding an agent 

Ready to find yourself a buyer’s agent to start looking for your next dream property purchase. Use our agent directory to get started.

How to Choose a Buyer’s Agent?

Womam at a laptop searching for a buyer's agent

Choosing the right buyer’s agents to help with purchasing property may seem overwhelming, particularly when faced with so many great specialists out in the marketplace. However, armed with the right information, selecting a buyer’s agent need not be impossible. 

Here’s our handy tips on what to consider when choosing a buyer’s agent to represent your best interests.

Start with location 

If you already have a location in mind for where you’re looking to buy, make sure that the buyer’s agent that you’re working with is comfortable with coverage of this area. You might like to start by searching for buyer’s agents that are local to this area, as it’s likely they’ll already have established many relationships with key contacts. 

Keep in mind, however, that physical distance is not necessarily a barrier for selection as there are many buyer’s agents that successfully work remotely.

At the end of the day, you want to make sure that the buyer’s agent you’re working with has in-depth knowledge of the locations you’re looking to buy in and the relationships to go with that.

Start by using the Buyer’s Agent Institute Directory to search by location and looking at the listing pages of agents to see what locations they specialise in. Too easy! 

What type of property are you looking to buy? 

Not all property is the same. The way that you buy residential property can be very different to the way that you go about finding and negotiating commercial premises. Make sure that the buyer’s agent you choose to work with has experience and knowledge in buying the type of property you’re looking to acquire. That way you’re likely to get the best possible outcome. 

You can search by property type using the Buyer’s Agent Institute Directory to find agents that specialise in: 

  • Residential property 
    • Primary residence 
    • Investment property  
  • Development sites 
  • Commercial property
  • Industrial property 

Reputation means everything 

When weighing up options for a product or service, reviews and word of mouth can be critical for helping us to decide which direction to move in. 

Do research online 

When researching a buyer’s agent make sure to look at their online presence to see what past or existing clients have to say about their service. This can be crucial for identifying any potential red flags. 

Speak with past clients 

Ask to not only speak with clients that were a success, but to also to speak with a client that didn’t go to plan. There should always be a client experience that was not so smooth.

Speak with real estate agents

You can do your research on a buyer’s agent by asking real estate agents in the local area you are looking to buy. You can ask what their experience has been working with the buyer’s agent you may be considering. Getting feedback from real estate agents can give you a deeper level of insight of how a particular buyer’s agent operates.

Listen out for referrals 

Even better is if a family member, friend or work colleague is able to make a direct recommendation to you. At the end of the day, you want to feel secure that the buyer’s agent you choose is committed to a high level of service and to delivering client outcomes. They’ll also want to ensure that you pass on the recommendations at the end of your buying journey. 

The Buyer’s Agent Institute Directory has taken out some of the hard work by consolidating online reviews for each buyer’s agent on individual agent listing pages. 

Make sure the price is right 

Price can be a major factor when buying property. There’s no doubt that using a buyer’s agent has its benefits. Working to a budget means that it’s important to find a buyer’s agent that meets your financial requirements. It’s up to you to do your research and find an agent with a fee structure that you’re comfortable with. You may even be able to negotiate based on a number of factors including the services provided. Maybe you only need the buyer’s agent to assist with certain parts of the buying process, as opposed to a full service offering.

Be upfront with your buyer’s agent and it’s likely you’ll be able to reach a mutually beneficial outcome suited to your needs. 

Trust your gut  

Ultimately, you need to feel confident and you need to feel good about the buyer’s agent that you’re working with. Nothing beats picking up the phone or having a coffee face to face with a prospective agent to get a sense for how you communicate and interact with each other.

If you don’t get a good feeling in your interactions, move on. There’s plenty of buyer’s agents out there that would love the opportunity to provide you great service and secure your dream property. 

Finding a buyer’s agent 

Now that you know some criteria to consider when choosing a buyer’s agent, you can go about finding one. Use our Agent Directory to find the right buyer’s agent for you.

Why Use a Buyer’s Agent?

Buyer's agent with phone and tablet

So you’re planning to make your first big property purchase. Or maybe you’ve already bought property in the past and are looking to add to your portfolio. We all know how difficult buying property can be. 

From finding and inspecting properties to attending auctions and negotiating the sale price, it’s easy to invest countless hours of your time and money, while not always achieving the best outcome.

That’s where a buyer’s agent can step in. 

Buyer’s agents (also referred to as buyer’s advocates) are licensed professionals that can research, assess and negotiate property on your behalf. They offer a large range of services and can help you whether you’re purchasing a residential home, investment property or commercial premise. 

So why should you consider using a buyer’s agent when purchasing your next property? 

Your best interests are represented 

We’re so used to dealing with real estate agents who act upon the best interests of their clients (the property seller) that we often forget about who’s looking out for us. A buyer’s agent will act solely on your behalf to represent your best interests through your property journey. A buyer’s agent receives no monetary incentives from third parties like real estate agents or property sellers when assisting their clients. 

A buyer’s agents will work closely with you to understand your goals and help secure you the best possible deal. 

Flexibility when you need it 

Say you have the time on your hands to search and view properties, yet are not confident when it comes to auctions and negotiation. Engaging a buyer’s agent gives you the flexibility to either leverage them at every step of the buying journey, or only when you need their assistance. Soon enough you’ll see how easy they make every part of the process when it comes to buying property. 

Potential savings on your next purchase

Unless you’re following the market on a regular basis, it’s hard to know what equates to a good purchase price on a property. Are you getting value for money when you purchase property? It’s a buyer’s agents job to know the market inside and out and this knowledge and expertise is indispensable when it comes to securing you your dream property. You’ll be a lot less likely to overpay at that next auction when you have a buyer’s agent by your side. 

Take back your free time

There’s nothing worse than spending all your free time looking at properties that just don’t cut it. Based on your requirements, a buyer’s agent can take on tasks that you’ve been sinking countless hours of your time into. At the end of the day, time is money and you’ll see how much more efficiently property buying can be. 

Save yourself the headache 

Buying property can be extremely challenging. From aggressive agents to demoralising auctions, it can be a real rollercoaster of emotions that often results in sleepless nights. Let a buyer’s agent take the stress out of buying property. It’s their job to ensure that every step of the process is as easy and seamless as possible. 

Access to off market opportunities 

One of the big advantages of using a buyer’s agents is access to properties that you would not otherwise see advertised. Through valuable local relationships, buyer’s agents are able to potentially give you access to properties before they even hit the market. Your next dream property might be one that never actually hits the market. 

Find a buyer’s agent  

Whether it’s location or the type of property you’re looking to buy, our Agent Directory will help you find the right buyer’s agent to meet your requirements.

What is a Buyer’s Agent?

A buyer's agent their client having a seated conversation

It can be incredibly daunting knowing where to start when buying a new home or investment property and that’s where a buyer’s agent can step in and help you achieve success.

Buyer’s agents (also known as buyer’s advocates) are licensed professionals that act on behalf of a buyer to search, evaluate and negotiate property. Unlike a real estate agent, buyer’s agents represent the interests of the buyer and will use their expertise to achieve the best possible outcomes when purchasing residential and commercial real estate. Often resulting in a huge saving of time and money for the property buyer. 

Buyer’s agents can be incredibly flexible based on the needs of their clients and can provide everything from a full service offering (which includes management of the entire process) to assistance with specific parts of the property buying process. This might include the buyer’s agent helping with auction bidding or negotiation only,

Where to start with a Buyer’s Agent? 

As a first step, a buyer’s agent will work closely with you to understand and develop a list of requirements regarding your future home or investment property. This is an important step as it’s about creating differentiation between your needs and wants as a buyer and helps them to focus on securing the right property for you. 

What can a Buyer’s Agent help with? 

Once a buyer’s agent is clear on your requirements, they can help with any or all of the following: 

  • Researching on and off market listings that meet your criteria. Yes, it’s true. Many buyer’s agents have strong relationships with local real estate agents that can give them access to properties before they even hit the market.
  • Inspecting and short-listing properties. Time is money and who wants to spend all their precious hours in a day looking at properties. Let your buyer’s agent do the hard work and come up with a list of dream properties tailored to your needs. 
  • Assessing recent market data and obtaining appraisals. Your buyer’s agent will use their expert market knowledge and industry contacts  to help ensure you’re getting a great deal. 
  • Managing necessary due diligence such as engineering reports, building inspections and more. Your buyer’s agent will be familiar with everything you need to ensure your interests are protected 
  • Auction bidding. An experienced buyer’s agent will ensure you go into a property auction with the best possible strategy, priming yourself for success. 
  • Negotiating the purchase price of your property and the terms of sale. It’s often at this stage that things can get a little tricky. With their wealth of knowledge, a buyer’s agent will ensure you’re getting the best possible deal when it comes to your purchase contract. 
  • Assisting with the drafting and exchange of contracts. 
  • Inspections prior to settlement 
  • Settlement 
  • Asset management, property management and the leasing of your property 
  • Tenant advocacy to help people find properties to rent. 

Something missing? Just get in touch with a buyer’s agent today to find out more about what they can help with. A buyer’s agent is all about representing your interests and will strive to go above and beyond to help you achieve the best possible outcome. 

Why use a Buyer’s Agent? 

  • They represent your best interests. A buyer’s agent does not receive any incentives from a property seller or real estate agent, and is only acting in your best interests. 
  • Save money. A buyer’s agents expertise and market knowledge will help to ensure you get a great deal when making your purchase. Often saving you money in the process. 
  • Save time. Let your buyer’s agent spend their time assessing properties so you can take back your weekends. 
  • Reduce stress. Buying property isn’t easy. It can be frustrating, demoralising and downright depressing. A buyer’s agent can take the drama out of buying property and make it as seamless as possible. 
  • Broaden your options. Buyer’s agents will often have access to ‘off market sales’ giving you even more options to choose from when searching for your dream property. 

Finding a Buyer’s Agent? 

Use our handy Agent Directory to find the right buyer’s agent for you. You can search for a buyer’s agent located in your local area and for one that specialises in the type of property that you’re looking to buy. Whether you’re looking for your forever home, an investment property or a new commercial opportunity, a buyer’s agent will have you covered. 

Becoming a Buyer’s Agent 

Tired of the daily grind? Want to design the life you’ve always wanted? Consider becoming a buyer’s agent today. Building a career as a successful buyer’s agent is open to anyone willing to take the right steps. 

The Buyer’s Agent Institute offers cutting edge systems, training and support to give graduates the opportunity of a lifetime. What are you waiting for, watch our free training to learn more.