You may have heard of a buyers agent but many home buyers and property investors don’t actually know what they are. Real estate agents are far more common but buyers agents are slightly different.
Here, we’re going over what is a buyers agent, what they do and why they’re worth it. Let’s begin.
What’s the difference between a buyers agent and a real estate agent?
The first question that most people ask when considering a buyers agent is, what’s the difference between buyers agents and real estate agents?
In short, real estate agents can be seen as the umbrella term that describes agents who work in the real estate industry. However, in most cases, real estate agents are actually sales agents and their job is to sell the property they represent.
While real estate agents are well-known real estate professionals that can help people buy and sell their homes, buyers should be aware that the main difference between these agents and buyers agents is that real estate agents represent the properties and the sellers of that property, not the people doing the buying. In other words, real estate sales agents represent property sellers while buyers agents represent property buyers.
Our only goals is getting our clients the best properties at the best prices on both residential and commercial property. Buyers agents quite literally work for the buyer and always have their best interest in mind.
So, if you’re looking to buy a home or commercial property, your best bet will be to work with a buyers agent over a real estate agent.
What does a buyers agent do?
Buyers agents have a wide range of skills and services to help property buyers purchase the home of their dreams. Buyers agent services include:
- Researching and strategising
- Finding and vetting available properties
- Assessing the true market value of a property
- Negotiating, bidding and securing a property at the best price
Research and Strategy
Many home buyers go into the process of buying property without much of a plan. They do an online search, drive through various suburbs looking for open inspections or talk to family and friends about neighbours who might be selling their home.
In other words, most people go into it totally blind and end up with a final purchase that’s less than ideal. Maybe they end up paying too much or not really getting what they wanted. That’s where an experienced buyers agent can really make the difference.
A buyers agent will do all the research and strategising to make sure you have a solid plan from the beginning. They’ll work with you to figure out exactly what you’re looking for and use their expert knowledge and cutting-edge real estate software to make a plan that works.
Find and Vet Available Properties
Once the research is complete and there’s a strategy in place, your buyers agent will find and vet available properties – and even off-market homes that other buyers won’t have access to.
Buyers agents have insider knowledge about the best suburbs in your area and what a good property looks like. In other words, they’ll prevent you from buying a faulty structure or placing an offer that’s too high or too low.
Instead of attending countless inspections, your buyers agent will shortlist the best properties that fit your requirements which saves you heaps of time.
Assess True Market Value
The price of a property doesn’t usually reflect its actual market value. Buyers agents know the difference between a good deal and an inflated price.
Of course, the real estate market fluctuates based on supply and demand but if it’s better for you to wait for the market to settle or if you should get in quick to snap up low prices, your buyers agent can provide trustworthy advice in this regard.
We won’t push you to buy something that’s out of your price range or a home that’s way overpriced. Again, your buyers agent is advocating for you and we won’t settle until you come away with the best possible result.
Negotiation, Auction Bidding and Securing Property
When you’re ready to place an offer on a property, we’ll take care of all the stressful aspects of negotiating, bidding in an auction and securing the best price on a home.
Buyers agents are expert negotiators and we know how to handle ourselves in high-stakes situations. For many, negotiating with sales agents and sellers is uncomfortable and one of the most stressful parts of buying property. So, why not allow an experience buyers agent do it for you?
We get it. You’re probably not a real estate expert and you very likely have more important things to do than negotiate with sellers or attend real estate auctions. This is, again, where a buyers agent can save you heaps of time and stress.
How much are buyers agent Brisbane fees?
Now that you know more about the buyer-focused real estate services provided by an experienced buyers agent, you’re probably wondering how much it will cost. Here at National Property Buyers Brisbane, fees vary based on which type of service you’re after.
We offer both full-service buyers agents or evaluation and negotiation services so, at the end of the day, the cost of a buyers agent depends on a variety of factors.
Since a full-service buyers agent is a lot more involved than our evaluation and negotiation services, you’ll pay more for a full-service agent. However, many argue that the time and money they saved with our full service was well worth it.
Keep in mind that buyers agent Brisbane fees are always subjective and should not be considered from a dollar value perspective. Experienced buyers agents usually have a fee structure between 2%-3% +GST of the negotiated price of the property.
Some newer buyers agents will position themselves on the cheap end charging a fixed fee of between $5000 to $6000. But, these buyers agents will have limited experience and skills for assessing property and handling negotiations.
So, our advice is to work with a buyers agent that structures its buyers agent fees based on a percentage of the negotiated price versus a flat fee.
Why should I work with a buyers agent?
So, why should you work with a buyers agent like the ones you’ll find on our team here at National Property Buyers Brisbane? To us, the benefits are clear. But, if you still need some convincing, the main reasons to work with a buyers agent include:
- Save time and money
- Experience and local knowledge
- Get the true market value of a property
- Access off-market property
- Stress-free negotiations and auctions
- Work with industry partners
Save Time and Money
The first benefit of using a buyers agent is that you’ll save both time and money.
Buyers agents save you time in one obvious way – by getting you the absolute best price on your property purchase. There’s really no other way to put it. Saving tens or even hundreds of thousands of dollars on a property by using a buyers agent can be life-changing.
In addition to saving you money, buyers agents also save you time. You won’t spend all of your foreseeable Saturdays at open inspections. You won’t spend countless hours online searching for available properties in your dream suburb. You won’t spends weeks in negotiations with sellers and real estate agents.
Since your buyers agent takes care of all the little bits and pieces of buying a property, you’ll save heaps of time. And as the saying goes, time is money.
We understand that you have better things to do. And as the property experts, you’ll get the peace of mind that you’re in good hands. We’ll ensure that you get the best deal possible on your new home or commercial property and you’ll definitely save heaps of time and money along the way.
Experience and Local Knowledge
Chances are, you’re not a real estate expert. But, that doesn’t mean you can’t buy property, invest in property or build wealth through property ownership.
Another major benefit of working with a buyers agent is the fact that you’ll get insight into a property expert’s experience and knowledge about how the real estate market works.
We believe that everyone should have the opportunity to buy their dream home or invest in property, no matter how much (or little) you know about the property market. That’s why we’re so passionate about sharing our knowledge and expertise with Brisbane property buyers.
We have the experience to help you get the best deals and we’ve done it for countless clients before you. And we know the local area like the back of our hands. Trustworthy and insightful – working with our buyers agents can make all the difference.
Get the True Market Value of a Property
While the real estate market ebbs and flows based on supply and demand, we’ve had enough decades in the industry to know that sometimes, property is way overvalued and many buyers pay way too much for real estate in Brisbane.
While we’re in full support of people wanting to purchase property anytime they’re ready and there’s no use in “timing” the market, our buyers agents can make sure that you’re getting as close to the true market value of a property as possible.
In other words, a buyers agent can protect you from buying a home that’s just not worth the money. We can also suggest better times to buy while helping you with all the negotiation strategies that are key to securing the perfect home.
You’ll have peace of mind that you won’t overpay for a home or commercial property when you have a buyers agent on your side.
Access Off-Market Property
Sure, you can find properties for sale that are within your price range and meet your needs, whether it’s a family home or an investment property. But, what if you had access to the properties that didn’t show up on search engines or real estate websites?
With a buyers again, that’s exactly what you’ll get – access to off-market properties before they even become available to anyone else.
We have insider knowledge that gives us first dibs on properties throughout Brisbane and southeast Queensland. Our extensive network of real estate sales agents and property developers means we know what’s about to go on sale and for how much. Plus, when we make an offer on your behalf, our reputation proceeds us meaning the offer is more likely to break through the noise.
Again, Australian real estate is in high demand right now, so anything you can do to get a leg up on your competition is essential. Buyers agents are your secret weapon for securing the home of your dreams in Brisbane and beyond with access to off-market properties before anyone else.
Stress-Free Negotiations and Auctions
Let’s face it – most of us clam up during negotiations and auctions. The whole purpose of them is to induce stress and urgency which is, simply put, uncomfortable – at least for most people.
However, our buyers agents have decades of experience handling negotiations and property auctions. We go into the fire so that you don’t have to. And trust us, having a stress-free property buying experience is worth it.
From moving to organising new schools for the kids to navigating your new suburb, buying a home is stressful enough. Allow our buyers agents to take some of the weight off your shoulders with our negotiation and auction bidding services.
Work with Industry Partners
Last but not least, when you work with a buyers agent, you’ll also have access to our wide network of industry partners. There’s a lot that goes into property ownership that expands beyond what your buyers agent can do. So, you’ll want the absolute best support for all the odds and ends of buying a home.
From contractors to building inspectors and everything in between, we know the best in the business and we can refer you to our industry partners who are each experts in their respective fields.
All in all, there’s still a lot to get done once you’ve signed on the dotted line and been given the keys or settle on an investment property. The highly qualified referrals from your buyers agent’s network can help.
How to choose the best buyers agent?
Now that you know what a buyers agent is, what they do and why you should work with one, it’s time to go over how to choose the best buyers agent for you.
This stage takes a fair amount of time and research but by asking the right questions and having a plan, you can find the buyers agent that matches your needs and is the right fit.
This stage isn’t something you’ll want to rush as choosing the right buyers agent will make a huge difference to the success of your property buying experience. So, let’s explore some of the things you should consider before choosing your buyers agent.
Ask about their experience.
The first thing you should enquire about when choosing a buyers agent is their experience in the real estate industry. Of course, skills and expertise are absolutely essential and you should certainly verify the credentials of any buyers agent you consider working with. However, their experience matters heaps in terms of real-world insights.
A lot of buyers agents in Brisbane and throughout southeast Queensland are relatively new to the industry. While real estate agents have been around for ages, buyers agents are still quite a new offering in the world of property buying.
So, while someone may have the skills to be a buyers agent, they don’t necessarily have the priceless experience of someone with decades under their belt as a buyers agent.
Set up a consultation.
To really get a feel for your potential buyers agent, set up a consultation and meet with them in person or over the phone. This is where you’ll be able to ask all your burning questions and get to know the person on the other end.
At the end of the day, your buyers agent will be guiding you through one of the most important decisions of your life. You’ll want to ensure that you not only get along with them as a person but that they share your core values.
For some, buying property is all about getting rich through quick investments. But, you might want to buy a forever home for your family or invest more conservatively by taking on less risk.
In other words, not all buyers agents are in it for the same reasons, so setting up a consultation with a potential buyers agent is key to making sure you’re fully on the same page before the process begins.
Talk to their past clients.
Lastly, to get an unbiased opinion about your potential buyers agent, talk to their past clients and check out customer reviews.
Google reviews are a great place to look up what other people are saying about that particular buyers agent. But you can also request to speak to some of their former clients who are happy to share their experience.
Getting third party testimonials are helpful because if someone who has no vested interest in promoting a company decides to offer a gleaming review, that’s really saying something about the quality of a service.
So, to get a crystal clear idea of what you’ll receive when working with a buyers agent, talk to people who have been in your shoes. It’ll certainly help when you make your final decision.
The National Property Buyers Difference
We bring a much-needed human touch to property buying that’s often overlooked in the technological era we’re living in. Sure, we use the latest technology as well and we’re not against it, but we’re passionate about making sure we never lose the human element of relationship-building with our clients.
We don’t rely on virtual inspections or digital images when vetting property for our clients. We walk the floorboards and get a feel for the space. Again, offering the human experience in everything we do – that’s the National Property Buyers difference.
Buyers Agent FAQs
What is the difference between a buyers agent and a buyers advocate?
There is no difference between a buyers agent and a buyers advocate. They are two different terms that mean the exact same thing. In some areas, like Brisbane, buyers agent is the most common term. However, in other areas of Australia, buyers advocate is the term used.
Here, at National Property Buyers Brisbane, we use both terms interchangeably. So, we’re, in fact, both buyers agents and buyers advocates. We advocate on behalf of the buyer and provide a wide range of real estate services for home buyers and property investors in the southeast Queensland region.
Do buyers agents earn commission?
Technically, yes – a buyers agent generally structures their fees as 2%-3% + GST of the final negotiated price of the property you end up purchasing. However, since your buyers agent fee comes from your purchase, you won’t have to pay upfront. And for a round-the-clock advocate who’s working for you – and only you, you’ll get the best price on your property which will be well worth the fee.
You might see buyers agents charging flat fees for their services, but generally, these buyers agents have far less experience and need cash fast. As with most things in life, you get what you pay for and going with a buyers agent who structures their fees at 2%-3% of the final price is almost always your best bet.
Contact one of our experienced buyers agents today and learn more about our buyers agent Brisbane fees.
How do I find a good buyers agent?
Finding a good buyers agent requires a decent amount of time and effort. Not all buyers agents are created equal and even if all the buyers agents in your area have the required credentials, many of them in southeast Queensland are new to being buyers agents and don’t necessarily have the experience to get you the best deal on a home or investment property.
The expert buyers agents at National Property Buyers Brisbane have decades of experience as buyers agents. We know the Brisbane real estate market inside and out with insights that only years and years of experience can offer.
Contact our buyers agents today and get a feel for the difference. Call 07 3844 7376 now!