Buyers Agent vs Buying Alone in Sydney: An Honest Comparison (2026)

Quick answer: For most buyers in Sydney's competitive inner suburbs, a buyers agent delivers a better outcome than buying alone — through lower prices, better properties, off-market access, and significant time savings. Buying alone can work for experienced buyers with deep local knowledge and established agent relationships. For the majority, those conditions don't apply.

This guide covers the comparison honestly, including the cases where going it alone makes sense.

What This Guide Covers

Buyers Agent vs Buying Alone in Sydney: An Honest Comparison (2026) | Unicorn Buyers Agents

The Core Question

Most people who ask "should I use a buyers agent or buy alone?" are really asking two things at once: can I do this myself? and is it worth paying someone else to do it better?


The honest answer to the first question is: probably yes, eventually. Most motivated buyers can find and purchase a property in Sydney without professional help. People do it every week.


The more useful question is the second one. Buying alone is an option. The question is whether it produces a comparable result — in price, quality, access, and time — to having a specialist on your side. In Sydney's inner ring, it usually doesn't. Here's why.


Side-By-Side Comparison

Factor With a buyers agent Buying alone
Property access On-market + off-market pipeline through agent relationships On-market only — Domain and realestate.com.au
Price intelligence Independent appraisal based on comparable sales and market conditions Agent's price guide (set in the vendor's interest) and public data
Negotiation Real estate-specific negotiator who understands the selling agent's process, knows when to move, and eliminates information asymmetry You, negotiating against a professional — often without knowing the vendor's position, the campaign dynamics, or when to make your move
Auction representation Experienced bidder with a clear strategy, composure, and authority to act You, in an emotionally charged environment, often for the first time
Due diligence Co-ordinated and reviewed by a professional who knows what to look for Self-managed — dependent on your ability to interpret reports and identify risks
Time commitment Your involvement concentrated at decision points — typically a few hours 80–120 hours across inspections, research, agent calls, and due diligence
Emotional objectivity Professional advocate with no emotional stake in any particular property Your own judgement, which research consistently shows is affected by emotion
Agent relationships Established relationships across target suburbs — including pre-market contact Limited or none — you are unknown to most agents until you enquire on a listing
Cost 1%–2.5% of purchase price (full service) No direct fee — but hidden costs in time, potential overpayment, and missed opportunities
Settlement support Co-ordination with solicitor and broker through to settlement and pre-settlement inspection Self-managed, relying entirely on your solicitor

Property Access: What Buyers Alone Don’t See

This is the advantage that surprises most buyers when they learn about it — and the one that is hardest to replicate without professional help.


A significant proportion of quality property in Sydney's Eastern Suburbs, Inner West, and Lower North Shore never reaches Domain or realestate.com.au. Vendors who value privacy, want a fast unconditional sale, or simply trust their agent to handle it quietly choose to transact off-market — through the agent's existing network of known buyers.


Individual buyers searching alone are not in that network. They don't exist to the selling agent until they submit an enquiry on a public listing. By definition, they can't access properties that don't have one.


A well-connected buyers agent is regularly contacted by selling agents with pre-market and off-market opportunities — because the agent knows the buyers agent has qualified, motivated clients. Those properties go to buyers agents' clients first, and sometimes exclusively.


For buyers searching alone, the pipeline they're working from is necessarily incomplete. In tightly held suburbs with chronic undersupply — which describes much of inner Sydney — that is a material disadvantage.


Negotiation: Who You’re Actually up Against

Here's something most buyers don't realise until they're standing at an open home on a Saturday morning: look around you. A significant portion of the people inspecting that property aren't individual buyers — they're buyers agents, there on behalf of clients. At the competitive end of inner Sydney, you are not competing against other buyers. You are competing against other buyers agents.


That changes the nature of the contest entirely.


A buyers agent isn't just a negotiator — they are a real estate-specific negotiator. There is a meaningful difference. Generic negotiation skills don't translate automatically to property. Real estate transactions have their own rhythms, their own pressure points, and their own conventions that an experienced buyers agent understands from the inside — because they've done it hundreds of times, in the same suburbs, with the same agents.


One of the most underappreciated advantages is understanding the selling agent's sales process. An experienced buyers agent knows when a campaign is building, when a vendor is motivated, when a selling agent has been instructed to get it done before the weekend, and — critically — when to make an offer. Timing a pre-auction offer correctly is often the difference between securing a property and watching someone else buy it while you waited for auction day. Most individual buyers don't know to look for those signals, let alone act on them.


The broader issue is information asymmetry. The selling agent knows what comparable properties have actually sold for (not just what was reported publicly), what the vendor's minimum is, how many genuine parties are interested, and what negotiation approach is most likely to succeed with this particular agent. You, buying alone, typically know what the agent has chosen to tell you.


A buyers agent closes that gap entirely — bringing the same market intelligence, the same process knowledge, and the same professional composure to your side of the table. You are no longer the least informed person in the room.

"People aren't able to pull the wool over Dan's eyes in the same way that they would with new buyers for sure." — Client, Sydney

The Time Cost of Buying Alone

The cost comparison between buyers agents and buying alone almost always focuses on the fee. It rarely includes the other side of the ledger: the time a self-directed search actually takes.


A realistic inner-Sydney property search for an active buyer looks like this:


  • 2–3 open home inspections every Saturday for 3–6 months
  • Evening research: comparable sales, suburb data, listing monitoring
  • Ongoing agent calls and follow-ups to stay across what's coming
  • Due diligence co-ordination on properties you want to pursue: building and pest, strata reports, contract review
  • Failed negotiations and auction losses — each requiring its own cycle of research and emotional recovery

Conservatively, that is 80–120 hours of concentrated effort over several months, almost entirely on weekends and evenings — the hours most people guard most closely.


For a professional earning $100–$500 per hour, that time has a calculable dollar value of $8,000–$60,000. For anyone who simply values their personal time, it is significant. Neither figure typically appears in the "I saved on the fee" calculation.


The Real Cost of Getting It Wrong

What overpaying actually costs on a $2 million Sydney property

Overpaying by 3% at auction (common without professional representation)$60,000
Cost of buying on an inferior street (5% vs 7% annual growth over 10 years)~$860,000
Missing a structural defect not caught without thorough due diligence$20,000–$100,000+
Time cost of a 6-month self-directed search (100 hrs at $300/hr)$30,000
Typical full-service buyers agent fee (1.5% on $2M)$30,000

The fee is visible. The costs of buying alone are mostly invisible until they're not.


Overpaying at auction is the most common. Sydney's auction clearance culture — with emotional bidding, underquoting, and professional auctioneers managing the room — is a difficult environment for buyers without experience. Most first-time or infrequent auction buyers either bid too tentatively and lose a property they could have secured, or bid too aggressively and pay above what the property was worth.


Asset quality is a longer-term cost that compounds quietly. The difference between a good suburb and a great one, a good street and a great one, is not always visible to buyers who haven't spent years inside a specific market. A buyers agent who has personally inspected thousands of properties in your target area will have an intuition for this that most buyers simply can't replicate.


Due Diligence: Where Buyers Go Wrong

Due diligence is the part of the buying process that most self-directed buyers underestimate — either by skipping it to save time and money, or by commissioning the reports without really knowing what they're reading.


A building and pest report, a strata inspection report, and a contract review each surface specific categories of risk. But interpreting them requires knowing what is a standard finding for a property of that age and type, what is a genuine concern, what requires specialist follow-up, and what is a negotiating lever. Most buyers don't have that knowledge. They either get the reports and feel reassured, or they get the reports and feel confused.


A buyers agent co-ordinates the due diligence process, interprets the findings in context, and — critically — knows when to walk away, when to negotiate on the basis of what's been found, and when a finding is standard and not worth losing the property over.


When Buying Alone Can Work

This guide is about an honest comparison — and that means being direct about the circumstances where buying alone is a reasonable choice.

You have genuine local expertise

You have spent years actively inspecting properties in your target suburb, you know the selling agents personally, and you have a track record of completed purchases there. You already have the knowledge and relationships a buyers agent would bring.

The market is thin and low-competition

You are buying in a suburb or price point where properties sit unsold for extended periods, vendor motivation is high, and there is no auction culture. The urgency and competitive pressure that makes buyers agent representation most valuable is absent.

Your search criteria are unusually specific

You are looking for a very particular property — a specific building, a specific street, a specific configuration — where the buyer effectively has more information than the market. You know exactly what you want and you know exactly what it's worth.

You have unlimited time and high risk tolerance

You can attend every open home, build your own agent relationships over many months, absorb failed attempts, and accept the risk of not accessing off-market stock. The time cost is genuinely acceptable to you.


It is worth asking yourself honestly which, if any, of these applies. Many buyers believe they have local expertise that closer examination reveals is more limited than they thought — a handful of inspections and some Googling is not the same as the first-hand, granular knowledge that comes from years of professional immersion in a market.


When a Buyers Agent Is Clearly Worth It

You are time-poor

A demanding career, young children, or simply a high value on your personal time makes absorbing a 6-month, 100-hour search impractical or unacceptable. The time saving alone often justifies the fee.

You are buying in a competitive inner-Sydney suburb

Eastern Suburbs, Inner West, Lower North Shore — markets with high auction clearance rates, chronic undersupply, and significant off-market activity. Professional representation and off-market access deliver a measurable advantage here.

You are buying from overseas or interstate

You cannot attend inspections in person, build agent relationships, or be present at auction. A buyers agent is not a convenience — it's the only way to buy properly without being there.

You are a first-time buyer

You have no prior experience with Sydney's auction culture, no agent relationships, and limited comparable-sales knowledge. The learning curve is steep and the cost of mistakes at Sydney prices is high. Professional guidance pays for itself quickly.

You are buying at the top of your budget

When you are stretching to buy, overpaying is not an option and every negotiating dollar matters. The precision and experience of a professional negotiator is most valuable exactly here.

You have had a long, unsuccessful search

If you have been searching independently for six months or more without success, something in the approach isn't working — brief, budget, access, or negotiation. A buyers agent resets the search with a professional process.

"Fraught with first-home-buyer, house-hunting fatigue I turned to Unicorn Buyers Agency. Within 4 days I had my dream apartment in Sydney." — Rachel Ross, client

Frequently Asked Questions

Is it worth using a buyers agent in Sydney?

For most buyers in Sydney's competitive inner suburbs, yes. The value comes from three sources: negotiating a lower purchase price (often 3–15% below what a buyer would pay independently), accessing off-market properties that never appear on Domain or realestate.com.au, and saving 80–120 hours of search time. On a $2 million property, a 3% negotiation saving equals $60,000 — which typically exceeds the buyers agent fee.

What are the disadvantages of using a buyers agent?

The main disadvantages are cost (1%–2.5% of purchase price for full service), the need to find and vet the right agent, and relying on someone else's judgement on properties you haven't seen in person. For most inner-Sydney buyers these are outweighed by the advantages — particularly in competitive markets where off-market access and negotiation skill have a material impact on the result.

Can you negotiate a better price without a buyers agent?

You can negotiate, but consider who you're negotiating against — and who else is in the room. At a Sydney inner-suburb open home, a meaningful proportion of other inspectors are buyers agents acting for clients. You're not competing against other individual buyers; you're competing against professionals. On top of that, the selling agent understands the sales process in ways most buyers don't — when campaigns are building, when vendors are motivated, when an offer will land. A buyers agent brings the same process knowledge to your side, and eliminates the information asymmetry that puts individual buyers at a disadvantage.

How much time does it take to buy a property in Sydney without a buyers agent?

A typical inner-Sydney property search takes three to six months for an active buyer attending open homes every weekend. The total time commitment — inspections, research, agent conversations, due diligence — is commonly 80–120 hours, concentrated on weekends and evenings.

Do buyers agents have access to properties that aren't publicly listed?

Yes. A meaningful proportion of quality property in Sydney's inner suburbs trades off-market — without a public listing on Domain or realestate.com.au. These properties move through selling agents' existing networks. A well-connected buyers agent is typically the only route individual buyers have to this pipeline.

Who does the selling agent work for?

The selling agent works for the vendor. Their legal and contractual obligation is to achieve the highest possible price for their client — the seller. A buyers agent is the equivalent professional on your side of the transaction, with the same market knowledge and negotiation experience but working exclusively for you.

Is buying alone ever the right choice?

Yes, in some circumstances — specifically for buyers who have genuine, first-hand local expertise in their target suburb, established agent relationships, and a track record of completed purchases there. Or in low-competition markets with minimal auction culture. The key is honest self-assessment: do you actually have the knowledge, relationships, and time to do this as well as a specialist would?

What is the real cost of buying alone in Sydney?

The real cost has several components: time (80–120 hours), the risk of overpaying at auction or in negotiation, the risk of missing issues in due diligence, and the opportunity cost of not accessing off-market properties. On a $2 million purchase, overpaying by just 3% costs $60,000 — more than a full-service buyers agent fee.

Want to understand what a buyers agent could deliver for your specific search?

Book a 15 minute call with Dan to talk through your brief, your target suburbs, and what’s realistically achievable. Even better, complete one of our fact find forms below so we can prepare before we speak.

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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.