Buyers agent, a smart move for home buyer

Buyer’s agents (also known as ‘buyer’s advocates’) are licensed professionals that specialise in searching, evaluating and negotiating the purchase of property on behalf of the buyer.

They do not sell real estate.

Buyer’s agents specialise in searching out, locating and negotiating the purchase of property on behalf of a buyer.

Whereas real estate agents primarily represent the seller of the property, a buyer’s agent (like it says on the tin), looks after you, the buyer.

What does a buyer’s agent do?

A buyer’s agent generally offers two types of services:

1. The full service sees them search out properties meeting their client’s criteria and negotiate the purchase of the property ultimately chosen, whether by private sale or auction. They may look for one specific property, or an entire portfolio, depending on your needs.
2. Buyers may also engage buyer’s agents purely to bid for them at the auction of a property they have found for themselves.

How much does it cost?

Some buyer’s agents charge an engagement fee before they begin the search for a home. Users of the full service can expect to pay a flat fee or a percentage of the property purchase price. Using a buyer’s agent to bid at auction, meanwhile, carries a lower fee as there’s much less time involved.

Some buyer’s agents charge an engagement fee before they begin the search for a home. Users of the full service can expect to pay a flat fee or a percentage of the property purchase price. Using a buyer’s agent to bid at auction, meanwhile, carries a lower fee as there’s much less time involved.

-- Source: realestate.com.au