What is a buyer’s agent and should you use one?
Learn what a buyer’s agent actually does for clients and how to work out if using one will be worth it for you.
Connect with a buyer's agent in Australia
The basics: What is a buyer’s agent?
A buyer’s agent is a real estate professional who assists clients with all aspects of finding and purchasing a property. That includes everything from researching suitable properties, to price negotiation and due diligence.
In competitive property markets, like many of those across Australia, buyer’s agents help give their clients an edge versus other buyers.
For investors, a buyer’s agent can help ensure the locations you’re buying in, and the specific properties you’re considering, have the best chance possible of delivering strong returns.
For owner-occupiers, buyer’s agents are experts at understanding your needs and priorities, and finding homes to match.
Full service versus specialist buyer’s agents
Most buyer’s agents offer a broad range of services to clients, across all parts of the buying process, but there are some who specialise in a much narrower offering.
For example, it’s common for some agents to specialise in property valuation and negotiation. These buyer’s agents only step in once you have found a property you want and help you negotiate the best price with the seller. The rationale is that this is the part of the process most buyers are least experienced with.
When you’re negotiating a price with a professional selling agent for a large purchase, having an experienced negotiator working on your behalf can be incredibly valuable.
Overall, a buyer’s agent can help with a number of crucial steps in the process of finding and buying a property, either to live in or as an investment property. Here are the key services buyer’s agents provide:
What does a buyer’s agent do for their clients?
Client consultation
When you first engage with a buyer’s agent, they will invite you to an initial consultation where they will get an understanding of what you are hoping to achieve. A good buyer’s agent will want to know not only the fundamentals of what you need (your budget, general location you want to buy in, number of bedrooms etc.) but also your emotional drivers and risk tolerance. This often happens face to face but can be done remotely too.
Property strategy development
Good buyer’s agents are expert property strategists who are often experienced property investors themselves. Their job is not simply to find you a property, it’s also to help you develop or refine your property strategy. To offer some basic examples, based on your budget, are you better off buying a single house or two units, what city should you buy in, is now actually a good time to be buying a property or should you wait? In many cases, this is where a buyer’s agent adds most value for their clients.
In-depth property research
With an understanding of their client’s needs, a buyer’s agent will conduct research into your preferred locations. For experienced agents, this is less about online research and more about contacting their network of selling agents to establish if there are any potential properties that have yet to hit the market. Being able to find off-market properties is one of the main benefits of using a buyer’s agent.
Present properties (and refine if needed)
A buyer’s agent will consult with their clients throughout the process. That means that when they find a suitable property, they will present it to you. Unlike the selling agent, a buyer’s agent will highlight the property’s flaws as well as its positives so you’re clear where you stand. They’ll also give you their expert view on the property’s value and its prospects for capital gain and rental yield. If the property they have shown you isn’t right, they refine their search and go again.
Attend inspections
Your buyer’s agent will typically do an initial inspection of any property that’s on your shortlist. This way, they will establish if the property is a good fit or one to rule out, without you needing to attend. Another benefit of this is that buyer’s agents will look for things a less seasoned buyer would typically miss. They’ll also use their experience to gauge the level of demand in the property based on who else is at the open home, and feel out the selling agent to get a sense of how best to proceed if you progress to making an offer. Conduct property due diligence
Conduct property due diligence
A buyer’s agent will carry out due diligence on any property you are interested in at various stages of the process. Some of this happens before you make an offer, while other aspects of due diligence only take place once you have had an offer accepted (subject to conditions). For example, your buyer’s agent will look into local council approvals for any future developments that may impact your property, council restrictions or approvals on the property itself and, of course, building and pest inspections which your buyer’s agent will coordinate.
Negotiate price
Your buyer’s agent will handle the price negotiation with the selling agent if you decide to make an offer. Buyer’s agents are expert negotiators and will use their experience to strike the right balance between offering little enough that you get a good deal, but enough to ensure you secure the property. There can be a lot of back and forth between buyer and seller and having someone take care of this is a big time saver.
Attend/bid at auction
Most buyer’s agents prefer to secure properties before they go to auction as it gives them more control over the process. But if it comes to it, your buyer’s agent will attend the auction and bid on your behalf. The advantage of having a buyer’s agent bid for you is that they will be able to unemotionally execute your instructions without being swayed by nerves or excitement. If you want confidentiality, having a buyer’s agent bid on your behalf means you won’t need to front the auction yourself.
Project manage the process from start to finish
Buying a property in Australia is not straightforward due to the various regulations and legalities, but also due to just how competitive the very desirable markets tend to be. As anyone who has recently bought a property will tell you, it can feel like a full-time job. If you are busy, a buyer’s agent can be incredibly valuable. After all, if you want to secure a great property in an excellent location it’s not going to come easy, and without expert help, it could be downright impossible.
Serve as a trusted advisor
Arguably a buyer’s agent’s core role is to give you advice at all stages of the buying process. There are the obvious times your buyer’s agent will do this, but also some times when you’ll just want to bounce ideas off someone who knows what they’re talking about. And unlike friends or family who probably won’t be shy in offering their view, a buyer’s agent will offer an expert view, and won’t be afraid of hurting your feelings if they think you’re about to make a mistake. This honest, analytical advice and guidance can be invaluable for buyers.
Buyer’s agent versus real estate agent - how do they differ?
Buyer’s agents and real estate agents (seller’s agents) sit on opposite sides of a property transaction. A buyer’s agent represents the buyer’s interests – namely securing the property at the lowest possible price – while the real estate agent acts on behalf of the seller to get the best combination of price and other terms, like length of settlement period.
Many buyer’s agents were real estate agents in a past life. This is not surprising when the skill set and required expertise are broadly similar. It’s also not surprising given the role of buyer’s agent is a relatively new phenomenon and some real estate agents see becoming a buyer’s agent as a way to establish themselves in a blossoming line of business.
A word of caution: Be wary of any buyer’s agents or agencies who also act as selling agents. While the skill set required is similar, being a buyer’s agent is a fundamentally different role which requires exclusive focus on the interests of property buyers. Being a buyer and a seller of property, even if the roles are not applied on the same property, brings with it the risk of conflict.
Given the clear difference in the buyer’s and seller’s interests, attempting to straddle both sides of the transaction is not something a credible professional will attempt.
Who uses buyer’s agents?
Owner occupiers
Owner occupiers For those purchasing a home to live in, particularly in competitive markets, using a buyer’s agent is becoming increasingly popular. Securing an A-grade property for your family to live in is not easy and having a buyer’s agent on your side can be incredibly valuable for time-poor buyers and those with a very specific set of requirements that they are not prepared to compromise on.
Investors
Investors looking for help with finding properties and for advice on their overall property strategy commonly lean on buyer’s agents for advice and help with executing their plans/. Buying well is arguably more important for investors where the need to achieve a certain rental yield or target rate of capital growth is more important than it might be for those buying a home to live in.
Interstate buyers
If you’re planning to purchase a home interstate in an area you’re not familiar with, using a local buyer’s agent has become almost essential. The best properties to hit the market (or spring up off-market) sell fast and having a locally-based representative who can attend inspections and be your eyes and ears on the ground is vital if you want to transact decisively.
Overseas buyers
Buying property in Australia from overseas is a much more complicated process and most people choose to do so with the help of a buyer’s agent. This obviously helps with the practicalities of understanding the local property market and physically attending inspections and auctions, but also with navigating the process and regulations you’ll need to comply with.
Should I use a buyer’s agent?
Buyer’s agents are becoming increasingly popular as Australians try to get an edge in competitive property markets, but not everyone will benefit from using one. You’ll need to weigh up the pros and cons and work out whether any leverage it gives you over other buyers (and indeed sellers) will be worth the trade-offs.
Pros of using a buyer’s agent
- Saves you time researching properties and attending inspections
- May mean you can access off-market properties that other buyers can’t
- May help you negotiate a better price and purchase terms on a property
- Helps you avoid potentially costly mistakes
- Can project manage your property purchase and the various moving parts
- Can offer expert advice and guidance throughout the process
- Particularly valuable for interstate buyers and foreigners buying property in Australia
Cons of using a buyer’s agent
- You’ll need to pay buyer’s agent fees
- Finding a good buyer’s agent can be just as challenging as finding a good property
- Experience levels and expertise vary considerably between agents
More FAQS
How do I choose a buyer’s agent?
Here are some factors to consider when choosing a suitable buyer’s agent:
- How much experience do they have buying property in your preferred location(s)?
- Do they have experience of helping buyers in your situation?
- Do they offer the specific service that you need (e.g. property sourcing versus negotiation)?
- Do they have lots of positive reviews from past clients?
- Do they work exclusively for buyers?
- Are they a good fit for you based on their professional style and approach to working with clients?
- How much will they be charging for their services and what is their fee structure?
- Are they offering a realistic picture of the prospects of them finding a suitable property or does it feel like they’re overpromising?
Can a real estate agent also be a buyer’s agent?
From a regulatory point of view, there is nothing stopping a real estate agent from also acting as a selling agent, but not in the same transaction as there would be an obvious conflict. Both real estate agents and buyer’s agents are covered by the same real estate licence (administered at the state/territory level in Australia), so if you’re licensed to act as one, you can also act as the other.
What qualifications do buyer’s agents need?
The requirements for becoming a buyer’s agent in Australia vary in different states and territories, but generally the minimum is holding a real estate licence and/or a Certificate IV in Real Estate Practise. The owner of a buyer’s agency must generally also meet a minimum set of requirements.
Are buyer’s agents regulated?
Yes, buyer’s agents are regulated in a similar way to real estate agents. Each state and territory has its own licensing body and requirements, typically involving a Certificate IV in Real Estate Practice, practical experience, and continuing professional development (CPD).
Professional associations like the Real Estate Buyers Agents Association of Australia (REBAA) encourage members to adhere to ethical conduct, maintain insurance, and focus solely on buyer representation.
But ultimately consumers need to research buyer’s agents carefully, and ideally work with one with a strong track record of helping clients in a similar situation to theirs.
Where can I find a buyer’s agent?
Here are some reliable ways to find a buyer’s agent in Australia:
- Through professional associations like the Real Estate Buyers Agents Association of Australia (REBAA), which is Australia’s peak national body for buyer’s agents. All members must be licensed, insured, and act exclusively for buyers. There are also state-based real estate institutes (e.g., REINSW, REIV, REIQ, REIWA, etc.) with member directories.
- Online property directories and marketplaces (e.g., Domain, Realestate.com.au) sometimes feature buyer’s agent directories or links to recommended professionals. Independent directories like OpenAgent or LocalAgentFinder let you compare agents, though these often include selling agents too, so check if they’re exclusive buyer’s agents.
- Referrals and word of mouth can be particularly effective. This could be via related professionals such as mortgage brokers, accountants, or financial advisers who often work with buyer’s agents and can recommend trusted ones. It’s also worth checking with friends or family who may have used a buyer’s agent recently and may be able to provide firsthand experience.
Buyer's agents operate across Australia including the main property hubs: