Buyers Agent Fees

We have three main service offerings but understand that every client has unique needs and we tailor our service to your requirements.

Accordingly our fees are quoted on a case by case basis so our clients only pay for the service they need and is best suited to them. 

As a guide our fees range from between .5% and 2.5% of the target purchase price. We provide a fixed fee quote once we understand the scope of the search.

Time and stress savings aside, Dan has a track record of purchasing at 3% and 15% discount to market. We aim to deliver an outstanding ROI on the investment in our fee. 

Ready to take the next step?

Please complete one of the below short forms (takes 3 min) so we can understand your requirements. We’ll be in touch within 24 hours to discuss your search and how we can help. We will provide a fee quote and expected timeline to commence work.

HOMEBUYER FEE QUOTE
INVESTOR FEE QUOTE

If your brief falls outside our service area or we have a conflicting client we will refer you to a trusted buyers agent colleague who can help you.  

If you’d prefer to speak with Dan you can book a call below. We look forward to helping you. 

BOOK A CALL WITH DAN

Buyers Agent Fees – Frequently Asked Questions (FAQ)



How much does a buyers agent cost in Sydney?


Our buyers’ agent fees are designed to be tailored to your needs so you only pay for the level of service your require and how straightforward or complex the search will be. As a guide fees range between .5% and 2.5% of purchase price.


What factors affect buyers agent fees?


Buyers agent fees vary depending on:


  • The level of service you choose (full service vs appraise/negotiate only)
  • The complexity of your brief (owner-occupier vs investor, price point, suburbs targeted)
  • The scope of work required (number of inspections, negotiations, and due diligence steps)

We always provide a fixed-fee quote upfront, so you’ll know exactly what your investment will be.


Are buyers agent fees tax deductible?


If you’re purchasing an investment property, buyers agent fees are generally tax deductible as part of your cost base. For an owner-occupier home, they are not deductible. Always confirm with your accountant for advice tailored to your circumstances.


Why do buyers agents charge a fixed fee instead of commission?


At Unicorn Buyers Agents, we believe in fair, transparent pricing. A fixed fee ensures there’s no incentive to push you toward a higher-priced property. Our only motivation is to secure the right property for you at the right price.


How do I know if buyers agent fees are worth it?


A professional buyers agent can save you:


  • Time (no more endless Saturdays at open homes)
  • Money (through skilled negotiation and avoiding costly mistakes)
  • Stress (guidance through contracts, inspections, and strategy)

The right property, secured at the right price, often offsets the fee many times over.


Do you offer flexible service options?


Yes. We have three main packages plus specific services to suit different needs:


  • Done For You (full search, shortlist, negotiate, and purchase)
  • Done With You (shared search and guidance with negotiation support)
  • Appraise & Negotiate only
  • Auction bidding

This means you only pay for the level of support you need.


What happens if my brief falls outside your service area?


If your property brief is outside our service area or we have a conflicting client, we’ll refer you to a trusted buyers agent colleague who can help. That way, you’re always looked after by the right professional.


How do I get a personalised quote for buyers agent fees?


You can:


  • Complete a short 3-minute questionnaire (for home buyers or property investors) so we can understand your needs.
  • Book a call with Dan directly to discuss your situation.

We’ll respond within one business day with a tailored fixed-fee proposal and a clear timeline to get started.


12 Buyers Agent Questions Answered (Sydney Guide)

12 Buyers Agent Questions Answered
(Sydney Property Guide)



Buying in Sydney’s Inner West, Eastern Suburbs or Lower North Shore? Here are straight answers to the questions buyers ask most about buyers agents — what we do, how fees work, off-market access, tax, and how to pick the right advocate.



1) What is a buyers agent?


A buyers agent (buyers advocate) is a fully licensed real estate professional who represents the buyer — not the seller — from search through to settlement. In Sydney, a skilled buyers agent will:


  • Source both on-market and off-market properties across target suburbs.
  • Analyse comparable sales and price momentum to set a smart ceiling.
  • Coordinate due diligence (building, strata, engineering, legal) to reduce risk.
  • Negotiate with selling agents and manage the process to exchange.


2) What’s the difference between a buyers agent and a selling agent?


  • Selling agent: Engaged by the vendor to achieve the highest price.
  • Buyers agent: Engaged by you to secure the right property at the right price.

You wouldn’t share a lawyer with the opposing party; property is no different.



3) How much do buyers agents charge?


Common models in Sydney include:


  • Fixed fee: Certainty on cost, independent of purchase price.
  • Percentage: Often 1–2% of purchase price, sometimes with a cap.

Unicorn Buyers Agents offers flexibility: a fixed fee, or a capped percentage (whichever suits your brief and budget).



4) Are buyers agents worth it?


Yes — especially in competitive Sydney pockets where high-quality stock is limited and many deals happen off-market. The value shows up in time saved, better assets purchased, fewer mistakes, and stronger negotiation outcomes.


Service options you can choose


  • Bid at auction: Strategy, composure and compliance on the day.
  • Appraise & negotiate: Price guidance from comps and momentum; private treaty negotiation handled for you.
  • Full search: Agent outreach, research tools, letterbox drops, door-knocking, dozens of inspections, and end-to-end due diligence.


5) How much could it cost me not to use a buyers agent?


  • Overpaying risk: 3% on a $2,000,000 home = $60,000 lost day one.
  • Asset quality: A superior property compounding at 5% vs 4% is ~$200,000 ahead in 10 years on a $2M purchase.

A good buyers agent helps you avoid poor assets, overpaying, and “unknown unknowns”.



6) Do I need a buyers agent in today’s market?


Yes — in hot and cool cycles.


  • Hot market: Beat FOMO, move faster, access off-market stock.
  • Cooler market: Identify value, avoid time-wasting campaigns, leverage vendor motivation.
  • Always: Micro-market pricing in Sydney shifts weekly; last night’s sale can reset today’s benchmark.


7) How to choose a buyers agent (avoid these mistakes)


  1. Hiring before finance approval: Get a fully assessed loan first.
  2. No buying team: Ensure access to broker, solicitor, inspectors, trades.
  3. Lack of independence: Avoid agents with developer/builder kickbacks.
  4. Wrong service fit: Match scope (auction/appraise/full search) to your needs.
  5. Weak local expertise: Choose an area specialist (e.g., Inner West, Eastern Suburbs, Lower North Shore).
  6. Price confusion: Understand what work the fee covers; be wary of “cheap” for complex briefs.
  7. Shallow sourcing: Look for robust methods (agent outreach, RPData, door-knocking, letters).
  8. No auction experience: If auctions are likely, demand battle-tested strategies.
  9. Soft negotiation: You should feel their calm confidence and control.
  10. Poor brief: Share lifestyle goals, school runs, hobbies, and portfolio aims.
  11. No exclusivity: Avoid conflicts; ensure your brief isn’t duplicated with other clients.
  12. Bait-and-switch: Confirm the senior you meet is the person doing the work.
  13. No references: Ask for recent client refs where appropriate.


8) What questions should I ask before hiring?


  • How long have you operated as a buyers agent in my target suburbs?
  • How do you source off-market opportunities?
  • What is your auction strategy and negotiation approach?
  • Who is on your due-diligence team?
  • How will you communicate and how often?
  • How many active briefs are you running right now?
  • Can I speak to recent clients?
  • Fixed fee vs percentage — what do you recommend for my brief and why?


9) Can I claim buyers agent fees on tax?


Investment property: Fees are typically capitalised into cost base and may be deductible on sale. Owner-occupied: Generally not deductible. Always confirm with your accountant or tax agent.



10) Can a property seller contact my buyers agent directly?


Yes. Many Sydney sellers approach buyers agents to avoid a selling agent’s commission — often creating early/off-market options. If a selling agent is already appointed, any direct contact occurs with their permission.



11) Do I have to sign a buyers agent agreement?


Yes. In NSW, licensed agents must operate under the Property and Stock Agents Act and Regulations. An agency agreement sets out scope, fees and responsibilities to protect all parties.



12) Can I use multiple buyers agents?


Typically no — most professionals work on an exclusive basis to avoid conflicts. Collaboration with external specialists may occur for challenging briefs at no extra cost to the client.



Buyers Agent Fees Explained (Sydney)


  • Typical pricing: Fixed fee or 1–2% (often capped).
  • Value: Off-market access, rigorous due diligence, superior negotiation, time saved.
  • ROI: Many clients save multiples of the fee through better assets and sharper pricing.


Ready to get strategic about your Sydney purchase?


Share your brief and we’ll outline a clear plan, timing and a transparent fixed or capped fee.


request a proposal

Our Services

01

Done For You

Our Done For You option is our complete property buying service.

LEARN MORE
02

Done With You

If you’ve already identified properties that you like then this service may suit you.

LEARN MORE
03

Bid at Auction

We know the rules, we know the games and we know how to win.

 

LEARN MORE
04

Strategy Session

A one on one personalised property session with Dan.

LEARN MORE

Why Choose Unicorn Buyers Agents?

Client Reviews

Dan Sofo was our Buyers Agent during a very hot market period where it was extremely challenging to secure a property. Dan knows his business, he knows real estate agents and how to negotiate with them. Furthermore he is able to snap off-market properties which is a big plus in a competitive market.
Alexandre Girard
Dan is a Buyer's Agent and is consummate professional - really knows his stuff - but also a really lovely guy and such a pleasure to work with. He listened, adjusted the brief when necessary and communicated exceptionally well. Worth every cent!
Erin Wilson
Plenty of Buyers Agents don't negotiate for their clients - instead they just find properties and make the buyer pay top dollar. Dan cross examines, executes with absolute precision and leaves every last cent not needed to be spent for his clients in their account
Bianca Field

Sydney Areas We Specialise In

specialist buyers agent eastern suburbs

Eastern Suburbs

Eastern Suburbs real estate is sought after by local, interstate and international homebuyers and investors. Eastern Suburbs real estate is sought after by local, interstate and international homebuyers and investors. 

Specialist inner west buyers agent

Inner West

From Newtown to Dulwich Hill and Petersham to St Peters in the Inner West, we assist homebuyers and investors looking to purchase in this vibrant, diverse community with affordable buyers’ agent fees in Sydney.

Specialist north shore buyers agent

North Shore

The North Shore fcovers suburbs on the northern side of Sydney Harbour, including Greenwich, Wollstonecraft, Mosman, Lane Cove, Lavender Bay, Milsons Point, Cammeray, North Sydney, Chatswood, Willoughby, Riverview, Castlecrag and more. These suburbs offer a diverse range of real estate options for units and investment properties to expansive family homes.

Specialist Sydney city buyers agent

Sydney City

Bold ‘statement’ homes with unusual, head-turning features and architecture are some of the catchphrases that describe real estate properties in Sydney City. It’s a daring city with the renowned Opera House, massive Darling Harbour and the arched Harbour Bridge with hubs of waterside living. We also specialise in providing real estate properties at reasonable buyers agent fees in Sydney.

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12 popular buyers agent questions answered 

 

When it comes to buying a property, many people assume that they can navigate the process on their own. However, purchasing a home or an investment property is often a complex and time-consuming process that requires expert knowledge and guidance. This is where a buyers agent can be incredibly valuable. A buyers agent is a licensed real estate professional who specializes in representing the interests of homebuyers. 

 

In this article, we will explore what a buyer’s agent is and the benefits they offer, as well as when it is appropriate to engage their services. Whether you’re a first-time buyer or a seasoned investor, understanding the role of a buyer’s agent can make all the difference in finding your dream property.

 

What You’ll Learn From This Article

 

  1. What is a buyers agent? 
  2. What’s the difference between a real estate agent and a buyers agent?
  3. How much do buyers agents charge?
  4. Are buyers agents worth it?
  5. How much will it cost me not to use a buyer’s agent?
  6. Do i need a buyers agent in today’s market?
  7. How to choose a buyers agent?
  8. What questions should i ask a buyer’s agent before hiring them?
  9. Can you claim buyer’s agent fees on tax?
  10. Can a property seller contact the buyer agent directly?
  11. Do i have to sign a buyer agent agreement?
  12. Can you have multiple buyers agents?

 

What is a buyers agent?

A buyer’s agent is a fully licensed property agent who works on behalf of a homebuyer or property investor in a real estate transaction. The primary responsibility of a buyer’s agent is to help their client find and purchase a home that meets their specific needs and budget.

 

Buyer’s agents work exclusively with buyers and are therefore focused on helping buyers navigate the complex and sometimes overwhelming process of purchasing a home. They typically have extensive knowledge of a local real estate market and relationships with a network of selling agents in that area.  

 

Buyer agents offer purchasers transparency and clarity around price and market value by researching comparable sales transactions and will drive the due diligence and research process to mitigate the risk of a purchased property causing problems or stress to its new owner in the future. 

 

The way a property is marketed, negotiated, and sold depends on many factors including demand for that property type, the expectations of the vendor, and the particular style of the sales agent. Every transaction is unique and a buyers agent’s experience navigating the many variations of the sales process and the legal and financial requirements involved can undoubtedly give a purchaser an advantage.

 

Another of the key benefits of working with a buyer’s agent is that they can provide objective advice and representation throughout the home buying process which may otherwise become an emotional decision. 

 

Because they work solely on behalf of the buyer, they can help their clients make informed decisions without being influenced by any other parties involved in the transaction. Additionally, many buyer’s agents will deploy methods and resources that can help buyers find and evaluate the right property more efficiently than they might be able to on their own. This includes accessing properties not listed for sale by traditional means (off-market or silent listings). 

What’s the difference between a real estate agent and a buyers agent?

Buying and selling real estate can be complicated. That’s where buyers agents and real estate agents come in. A real estate agent is a professional who sells properties. Who does a real estate agent represent? The seller. Real estate agents are paid through commission from either the seller or the vendor. A buyer’s agent, exclusively represents the buyer. They act in the buyer’s best interest and help them through the process of securing the property they want.

 

How much do buyers agents charge?

Many buyer’s agents charge for service like a real estate sales agent ie, a percentage commission. This can make sense if you’re selling a property as the sales agent is incentivised to achieve a higher sales price. Paying more commission to your buyers agent the more you pay for your property can make less sense for buyers In hotter market years such as during 2020- 2021, Unicorn Buyers Agents offered fixed fees, to protect our clients.

 

In neutral or cooler years we offer a percentage-based fee capped at a pre-agreed rate. This way our buyers may benefit from a lower-than-expected commission whilst also having the peace of mind of knowing the maximum they’ll pay. 

For maximum flexibility and transparency, we offer clients the choice to lock in a fixed fee or to hire us on a percentage-based fee capped at a pre-agreed amount.

 

Are buyers agents worth it?

In Australia until recently the use of a professional buyers agent to undertake one’s search and property purchase was uncommon.

 

Sydney house hunters have long been resigned to the stresses of endless weekend inspections and annoying agent phone calls, not to mention having to negotiate with seasoned professionals trained in the art of extracting the highest possible price for their client- the seller. 

 

In the last few years however Australians are increasingly following the trend of their US counterparts to engage a buyers agent to find, negotiate and secure residential owner-occupied and investment property. Why?

 

 The competition for the best property in the most desirable suburbs has intensified, with a significant percentage invisible to the average house hunter. Property prices have spiked- and so has the cost of making a mistake. And we have increasingly become time-poor professionals who realise the value in deploying another professional to do what they do best.

 

Hiring a buyers agent does make sense but what can you expect for your money, and how will you assess the value of your buyers agent’s services?

 

A good buyer’s agent in Sydney will understand your brief in detail, then tailor their services and fees to your exact needs. This may be as simple as attending an auction to bid on your behalf, or appraising a property you have found, or conducting the entire search campaign all the way from day one to contract settlement.

 

  • ‘Bid at auction’ gets you a hired gun as your proxy on the big day. They will bid, deploying one of many strategies they have available, which they believe is best on the day to secure the property for you for the lowest price possible whilst taking into consideration other bidders, and the auctioneers style.
  • An appraisal and negotiate service will see a buyers agent provide you with a professional opinion on the market value and likely selling price of a property you have found, based on recent comparable sales, market momentum, and level of interest in that particular property. The agent will then deploy their negotiation expertise and relationships to negotiate a purchase by private treaty.
  • A complete search really should be just that. The best buyers agents will go beyond public listings to use real estate agent outreach, professional research tools, community networking , door knocking and letterbox drops to source and shortlist potential properties. 

Dozens of physical inspections will follow, accompanied by detailed research to validate the properties have no issues and can be secured within your budget. They will have a team of professionals including building inspector, engineer, solicitor, builder, handyman and property manager- to do all the heavy lifting, and will coordinate them all on your behalf. They’ll deal with selling agents, so you don’t have to. And they’ll package up a shortlist of desirable options to make your decisions. easier.

 

 A top buyers agent will show you the property that ticks your boxes, and sometimes that may be unconventional- but a buyers agent will also show you how an easy low-cost renovation can leave you with the property you dreamed of.

 

 An expert buyers agent will be your voice of reason- guiding you to avoid psychological pitfalls like analysis paralysis, FOMO, buyers remorse, and more.

 

 Finally, a good buyers agent will ensure you pay the right price, the lowest price possible given market conditions. 

 

How much will it cost me not to use a buyer’s agent?

I talk to buyers every day and a comment I often hear is “I’d love to use a buyers agent to find my property but I really can’t afford it because I need to put every dollar toward my purchase”.

 

I put one to three on-market and off-market property matches in front of my clients every week. These properties are within budget, they have been physically inspected and researched to make sure they’re problem free. 

 

I know how the sales agent will run the campaign and by deal time I’ll know the minimum price that needs to be paid to secure the property. This saves my clients thousands of dollars of search time  and many thousands more by not overpaying. I’ll also buy a better house on a better street which means tens, or hundreds of thousands of dollars more in your pocket. 

 

How? Let’s assume you manage to buy without overpaying and you’ve chosen a good suburb, street, and property type that grows in value at say 4% a year for the next decade.

 

 Now let’s assume I could buy you a slightly better property that grows in value at a slightly better 5% for the next decade. That 1% extra on a $2m property means my purchase will be worth $200k more than yours in ten years time. Not using a good buyers agent will cost you money.

 

Do i need a buyers agent in today’s market?

In a seller’s market with FOMO running high it seems easier to understand the value proposition for a buyers agent.

But great buyer agent work is just as critical in a cooler market. Here’s a few reasons why.

  1. Selling agents get much better at returning your calls in a tough market but they still have one thing top of mind – squeezing the highest possible price out of you. That’s their job. 
  2. We have the relationships with agents which helps us find opportunities in the form of off-market /silent listings by anxious and distressed owners. We also help bring things to market. Potential sellers are more likely to list when a buyers agent walks through the home during an appraisal. 
  3. We assess up to the minute market value. Sydney property prices are volatile. Price action varies suburb to suburb, street to street. Last nights’ sale resets todays suburb benchmark. On a $2M home purchase overpaying by 3% is a $60,000 mistake and buying at a 5% discount to market is a $100,000 win.
  4. Cooling markets are a minefield of second grade properties and unrealistic vendors. We shortlist, inspect and present only the best, most viable options saving you time money and stress. 

How to choose a buyers agent?

Hiring a buyer’s agent is a significant investment. Understanding how to prepare for the buying process and how to choose the right agent for your search will save you in every respect. Avoid the following mistakes and you’re well on the way to a profitable, and enjoyable buyer’s agent experience.

 

Mistake #1. Hiring an agent before your finance is approved.

Serious property hunting without the funds available is unproductive. You cant buy if you haven’t got the money! The first step of buyer preparation is to have your finance in place- preferably a fully assessed loan rather than just an approval in principle.

 

It’s certainly advisable to research your property market, write your brief, and get your buying team in place whilst arranging finance. However, the right time to put your buyer’s agent to work officially is when your finance is approved.

 

Mistake #2. Choosing a buyer’s agent without a buying team if you don’t have one of your own

A successful buying assault on a sought-after home or investment requires a crack team of experts; In addition to your buyer’s agent you’ll need a top broker and solicitor, and if the property is a renovation project, an architect, private certifier, a builder, or tradespeople, an engineer a  quantity surveyor as well. This group comprises your personal army, your buying team.

 

If you don’t have a team at hand make it a high priority to select a buyers agent who can bring one to the table. Hiring this agent means you’ll inherit their panel of experts who have worked together in the past. You’ll enjoy the advantage of ‘synergy’ when an experienced team works together with your buyer’s agent for a great result -all without you having to lift a finger.

 

Mistake #3 Not choosing a buyer’s agent who is completely independent and working for you

A buyer’s agent must be  100% working in your best interest.

 

This means they should not accept any type of incentive or remuneration that would affect their ability to give you independent advice.  A clear contravention of this principle would be a buyer’s agent accepting an incentive from a builder or developer for an introduction that leads to a sale. 

 

Standard agency agreements in all states generally make provision for an agent to disclose referral fees and commissions so you can understand whether there is a financial incentive involved with any of your buyers agents associations.

 

Mistake #4 Not choosing the buyer’s agent service that corresponds to your needs

Good buyers agents generally have three or four core offerings ranging from “Done For You” to appraisal, negotiation, and auction attendance. Choosing the appropriate service will require you to be realistic about your own property skillset and the time you can allocate to your house hunting.

 

 If you have the network, resources, and experience to access suitable properties then an ‘appraise and negotiate’ or ‘bid at auction’ service may really be all you need.


Be aware that although you think you can do the job using just these services, you can’t buy what you can’t see and this approach may cost you more time and money in the long run. 

 

Mistake #5 Not choosing a buyer’s agent who specializes in your desired area

An agent that works (and lives and plays) in the suburbs you are searching within is tuned into the important details that can affect a successful purchase. A formal appraisal or valuation is no comparison to the local knowledge of a seasoned area specialist. Bad neighbours, upcoming poor development, problematic executive committees..a local specialist will be aware and steer you clear of troublesome issues that are not apparent to an outsider.

 

Mistake #6 Not paying the right price for the service you’re getting

Buyer’s agents’ pricing can vary widely, and with good reason. Any good agent will tailor the scope of works to your circumstance and most will agree on a fixed price that reflects the work involved. It is worthwhile to understand what that work entails.

 

 A detailed, particular brief for a property in a tightly held suburb should command a premium and what you’ll be paying for is the buyer’s agent’s network of local selling agents, business people, and community, as well as their less conventional methods of sourcing property.

 

More abundantly available property in a less salubrious suburb will see you paying a buyer more for their time conducting inspections and putting together the deal, or their analytical skills if it is an investment property.

 

Paying an entry-level agent an entry-level fee for a challenging brief will not give you an expert outcome.

 

Be as wary of ‘cheap’ fees as exorbitant fees. Take a moment to consider the difficulty of the task at hand and the time and expertise required.

 

Mistake #7 Not assessing the methods your buyer’s agent will use to find your ideal property

Good buyer’s agents will apply multiple resources to source property and it merits asking how your buyer’s agent operates. Key activities you should listen for include personal outreach to a selling agent network, extensive use of research tools such as RPData, and personal outreach to potential sellers, amongst others. Opportunities arise from contact with people and the best agents spend all day talking and researching.

 

Mistake #8 Not choosing an agent with auction experience if that’s the likely method of sale for your property

If the common method of sale for your future home or investment is via an auction then your buyer’s agent should have extensive bidding experience.

 

Auctions are volatile environments where the odds are stacked against the seller. There is plenty of room for error leading up to, and on the day and you will need an agent that, is calm, knows all the rules, and has multiple battle-tested bidding strategies. A well-chosen agent will often know the auctioneer and their calling style which can help.

 

It’s not considered rude to ask your prospective buyer’s agent about their auction experience, and their preferred bidding strategies.

 

Mistake #9 Not screening your agent for negotiating power

Buyer’s agents are negotiators. They are the conduit between you and all the other players in a high-stakes situation. They’ll likely even mediate between you and your spouse when the pressure is on at deal time! To screen for a good negotiator you’ll need to trust your instincts rather than ask questions. Your prospective hire should leave you with the sense that things are going to go your way. Chances are they’ll be waving that magic wand over the other parties too which makes a good deal more likely.

 

Mistake #10 Not having a well-defined brief for your agent

The more thoroughly you detail and communicate your wants and needs, the better your outcome. A good brief goes way beyond just the property attributes. If the property is to be an investment share your overall long-term goals, how the purchase will fit into your portfolio, and when and how it will be divested.

 

If it’s your family home share what you do for work sports and hobbies, what your evenings and weekends look, like where your kids spend their time. Property choice is driven by lifestyle and understanding this is key for your agent to find that perfect property match.

 

Mistake #11 Not confirming your buyer’s agent will be working exclusively on your brief

A buyer’s agent cannot work in your best interest if they have signed on other clients looking for the same type of home in the same suburb and a similar price range.

 

You need to ask the question- will your brief, price range and instruction have exclusivity in your agents’ portfolio, until they have found your property? It’s not a rude question to ask a prospective buyers agent what other types of clients they will concurrently be working on and what assurances they can give you there will be no conflict of interest.

 

It’s easy for buyer’s agencies large and small to blur the line by having multiple clients with similar briefs. In a tight market with short supply who gets first dibs on something matching multiple briefs?

 

Mistake #12 Choosing a larger agency and being assigned a junior or an associate.

As with many professional services sectors you run into the possibility of being pitched to by a senior expert only to have your brief delegated to a junior once you are on board.

 

 This can be a frustrating experience. If you are choosing a larger organisation always confirm that the agent you want to be looking after you actually will personally be responsible for your search.

 

Mistake #13 Not reference checking your Buyers Agent

Just as you would when you hire an employee- dont be afraid to ask your buyers agent for one or two names of past clients who would be happy to comment on how they worked. Confidentiality issues aside a good buyers agent should be able to agree to this. 

 

So there it is in a nutshell. Using a buyer’s agent will be a profitable and enjoyable experience so long as you can avoid the above mistakes.

What questions should i ask a buyer’s agent before hiring them?

 

When you’re hiring a buyer’s agent, it’s important to ask a few questions to ensure that they’re the right fit for you. Here are some questions you may want to consider:

 

  1. What experience do you have as a buyer’s agent?
  2. How do you plan to help me find the right property?
  3. How familiar are you with the local real estate market?
  4. Can you provide references from previous clients?
  5. How will you communicate with me throughout the buying process?
  6. How do you handle negotiations and bidding wars?
  7. Do you have experience working with first-time homebuyers?
  8. How do you get paid for your services?
  9. How many clients do you currently have?
  10. Do you work full-time as a buyer’s agent or do you also handle listings?

Asking these questions will help you get a better sense of the agent’s experience, expertise, and approach to working with clients, which will help you make an informed decision when hiring a buyer’s agent

 

Can you claim buyers agent fees on tax?

If you are using a buyer’s agent to purchase an investment property, for example, your buyers agent fees may be capitalised into the purchase and be deductible on sale. Even if you are using a buyer’s agent to purchase a personal residence, it’s worthwhile hanging on to the invoice. Check with your accountant and tax agent to see what portion of fees may be expensed and how. 

Can a property seller contact the buyer agent directly?

Yes, a property seller can contact the buyer’s agent directly. This does in fact happen. Here at Unicorn Buyers Agents we are contacted daily by sellers interested to avoid sales agents commissions by seeing if we may have a buyer for their property.

A property seller who already has their home listed with a sales agent is much less likely to contact the buyers agent directly as they trust their nominated agent to facilitate the transaction. 

 

A property seller who is selling privately will contact the buyer agent directly and we have conducted a number of purchases directly with the seller.

 

On occasion, a buyers agent may contact a seller directly even if they have a sales agent- but always with the permission of the sales agent. It may be to clarify some detail directly, to give a client peace of mind. 

 

Do i have to sign a buyer agent agreement?

Yes, you do have to sign a buyer agent agreement. A buyers agent operating in NSW is required to be either a class one or class two real estate agent and must operate under legislation set down in the Property, Stock and Business Agents Act and Regulation. The legislation stipulates that an agency agreement must be in place between an agent and a principal, outlining the terms on which the work will be conducted.

Can you have multiple buyers agents?

Whilst you could theoretically have multiple buyers agents working for you, it would be both unlikely and undesirable for you to enter into this arrangement. Most buyers agents will require you to enter into an exclusive agency agreement which recognizes they alone are working for you and their fee is liable to be paid even in the instance another buyers agent finds a property.

 

Here at Unicorn Buyers Agents we work with clients confident to trust us to find and purchase their home and as such only enter into exclusive agency agreements. We do not co-opt with other agents. 

 

So saying, we do occasionally collaborate with buyers agent colleagues outside of our organisation to assist us with a challenging brief. In this instance, we negotiate remuneration directly from our commission and no further fee is payable by our clients.