What is a Buyer’s Agent?

by Ben Handler

October 27, 2020

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. 

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