“What is a Buyers Agent and why do I need one?”

“The question I get asked all the time when I offer my Buyers Agent services, is “What is a Buyers Agent and why do I need one?”

In Australia, Queensland even more so, Buyers Agents aren’t all that common yet. In America they are huge. Nearly every sale would be via an agent working to find you a property. There are numerous tv shows about this process, but here in Australia we seem to think we have to do everything ourselves, including finding a house. 

I’ll start by saying that buying a home, whether existing or a new build, is one of the biggest purchases you’ll ever make, so getting an expert on your side to help you through this process makes perfect sense. However if you’re not yet sold on the idea, or still completely confused about what it is a buyers agent actually does, here’s a simple explanation:

Buyer’s agents assist buyers to find and purchase a property that meets the buyer’s criteria, for the best possible price by providing information, advice and support for all or part of the process.

So what’s the difference between a Buyers Agent and a Real Estate Agent? Great question. A buyer’s agent works for the buyer, with their best interests in mind, and a real estate or sales agent works for the vendor/seller and it’s their job to get the best deal for the seller. 

As buyers agents, we have a thorough understanding of the market, industry and locations we are buying in, and have access to both on and off market properties whether they are existing homes or new builds. We often hear of deals before they hit the market, or as offers and contracts fall through, giving you, the buyer, the advantage. 

Through meticulous research, and by using industry contacts whom we have complete faith and trust in, we know what a property is worth and can make offers accordingly. Conversely, we know which deals to walk away from. This alone can save you a lot of time, money and sleepless nights. 

If you’re an investor we do all the number crunching for you, and look at the rentability and rental yield, to ensure it’s a viable option for your portfolio. 

Here’s a break down of how a typical buyers agent service would work for you.  

Stage 1 – Preliminary meeting and cashflow/budget determination

Initial consultation – One on one consultation about your wants, needs, objectives and budget.

• We will discuss your financial situation, property types, locations and factors to consider, including capital growth prospects, demographics, returns and occupancy rates.

Stage 2 – Research and property analysis development and report

Detailed analysis of your requirements and circumstances

• Specific search criteria determination – including property type, price range and location. Tailored report outlining the properties and conditions we will be searching for.

Stage 3 – Search and property identification process

Search setup and filtering and agent notification for new and off-market opportunities

• Formulation of shortlist based on criteria, assessment and appraised value of each property.
• Communicate with the selling agent/s to obtain information on the campaign and their “rules” for dealing with competition, vendor motivation, competing buyers, whether the vendor is receptive to offers prior to auction (if applicable) and other important “inside information”.
• Inspection, evaluation and appraisal of the property/s based on other recent comparable sales in the area.
• Preparation of an analytical report on the shortlisted property/s incorporating current market conditions, recent sales and other factors which could potentially adversely affect the capital growth prospects of the property.
• Advice on appraised value, rental potential and development of a purchase strategy.

Stage 5 – Post purchase

• Conveyancer/solicitor/broker/bank provision of required documents.
• Assistance with property management if applicable.

Continuously

• Keep a strong line of communication flowing in the form of phone, email and messenger.
• Assistance and support with anything that may present itself along the way.

If you think this service is something you would like to learn more about, click here: or contact me for a chat.