What is a buyer's agent?

Buying a home is a big deal.

In fact, buying a home ranks as one of the most significant financial decisions a person will ever make.

For those fortunate enough to enter the property market, its likely going to be a rare event. Perhaps only once in a lifetime.

With supply continuing to outweigh demand at a staggering pace, competition is heating up in the Brisbane property market.

It is a high stakes, time-consuming, complex environment that buyers are thrust into.

So it's no surprise many are seeking independent expert guidance in the form of a buyer's agent.

What is a buyer's agent?

A buyer’s agent (or buyer’s advocate) is a licensed real estate professional.

Unlike a sellers agent (who represents the seller), a buyer's agent exclusively represents the buyer.

The role of a buyer's agent is to help you, as the buyer, navigate the complexities of the real estate market by:

• managing the buying process from start to finish;
• source, research and evaluate properties for you;
• provide strategic insights and expert guidance based on their market knowledge;
• negotiate with sellers;
• achieve the best purchase price and contract terms;
• and ultimately find you the perfect property.

What does a buyer's agent do?

A good buyer’s agent takes on several key responsibilities to guide buyers through the home-buying process.

Here’s a breakdown of those key responsibilities:

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(1) Clarifying the buyers needs and setting the brief

The first step in the home-buying process is setting the brief. A buyers agent needs to get a clear understanding your requirements.

They also need to ensure that all parties involved are on the same page when it comes to the specified brief.

This includes understanding:

• What type of property are you looking for? A house, an apartment etc?
• What location are you looking to buy? What are your preferred suburbs?
• What is your budget? Have you organised finance?
• What are your requirements? For example, house size, number of bedrooms and bathrooms, proximity to schools, possible rental yield etc.

(2) Consistently conducting property market research and analysis

One of the biggest advantages of engaging a buyer's agent is their deep understanding of the local property market.

You can lean on their extensive market knowledge to ensure you buy the perfect home for a fair price.

A good buyer's agent is constantly analysing market conditions.

This includes comparable property sales, capital growth trends, price fluctuations, infrastructure developments and rental demand and yield.

(3) Giving you access to property before others even know it's available

A hidden benefit of working with a buyer’s agent is access to off-market and pre-market properties.

These are homes that are not publicly advertised. A large number of real estate transactions happen off-market.

Buyers agent's have industry connections, thus giving them an exclusive first look through properties before they are listed on realestate.com.au or Domain.

This is particularly advantageous in competitive markets like Brisbane where good properties get snapped up quickly.

(4) Inspecting properties and conducting due diligence

A buyers agent will search for properties that match your brief, and conduct through property inspections on those that make the shortlist.

They will likely inspect a range of off market and listed properties.

A benefit to using a buyer's agent is their ability to conduct property due diligence on your behalf.

This significantly reduces risk for you as the buyer. The last thing you want to do is purchase a property with hidden issues.

A good buyer's agent will:

• Assess a property's structural integrity and identify potential defects
• Evaluate a property's location, surroundings, and neighbourhood
• Check zoning laws, flood risks, bushfire risks and council regulations
• Review property history and past sales records

(5) Negotiating and securing you the best price

Negotiating the best purchase price is one of the most valuable skills of a buyer’s agent.

An experienced buyer’s agent can save buyer's a significant amount of money by negotiating on their behalf.

They should be able to save you more than enough to cover their fee.

 A good buyer's agent will negotiate using several strategies:

• Understanding the seller’s motivations to leverage better terms
• Presenting offers based on market analysis and comparable sales
• Securing favourable contract conditions (e.g., extended settlement periods, early access)
• Handling bidding at auctions to avoid emotional overbidding

(6) Manage the purchase process from beginning to end

Once the deal is secured, a buyer’s agent will help you manage the entire settlement process.

Experienced buyer's agents have an extensive network and can connect you to:

• Solicitors/conveyancers
• Mortgage brokers
• Building and pest inspectors
• Property managers (for investors)

Why should you use a buyer's agent?

It will save you time and reduce stress

As you already know, securing the perfect home can be both time-consuming and overwhelming.

A buyer's agent will do the heavy lifting for you.

So there is no need to waste every precious Saturday zipping from open home to open home.

If you engage a buyer's agent, they will research, shortlist and inspect properties on your behalf. This way, you can focus on living your life.

It gives you access to exclusive property that others don't even know is available

The best deals never get listed.

An experienced buyer's agent has a network that gives buyers access to off-market and pre-market opportunities.

This gives you a competitive edge in the search for your perfect home.

It avoids you overpaying for property

An experienced buyer's agent leverages accurate market insights and employs strong negotiation techniques.

A buyer’s agent removes emotional biases, ensuring buyers make rational, strategic decisions.

This ensures buyers pay a fair price for their dream home without falling into the trap of emotional overbidding.

Access to expert investment advice

For property investors and those looking for strong capital growth, a buyer's agent is an invaluable partner in your search for the right property.

They have the market knowledge and skills to identify properties in high growth suburbs with strong rental yields.

This gives you the reassurance that you are buying a property based on data-driven insights.

Who should use a buyer's agent?

Anyone can use a buyer's agent, but those that will benefit the most include:

• Time poor professionals who need expert help finding and securing the perfect home;
• Interstate and overseas buyers who need local representation
• First home buyers looking for expert guidance through the buying process
• Investors looking for properties with a strong rental yield and opportunity for high capital growth; and
• Buyers who have been searching for months with no luck finding the right home

How much does a buyer's agent cost?

A buyer's agent will typically charge a percentage fee of 2-3% of the property purchase price.  

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Final thoughts: is engaging a buyer's agent worth it?

Obviously, we think so.

In a competitive and complex property market, engaging a buyer's agent can be the best decision a buyer can make.

From finding exclusive properties to negotiating the lowest price, a buyer's agent will work exclusively in the buyer’s best interest.

Helping you avoid pitfalls, save money, and make smarter property decisions.

If you’re serious about buying a property and want a competitive advantage, working with a buyer’s agent is a game-changer.

Ready to take the next step?

If you're looking for an experienced buyer's agent to help you find the perfect property, get it touch with us today.

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