What is a Buyer's Agent?

Real Estate Buyer’s Agents are licensed professionals that specialize in searching, researching and negotiating the purchase of property on behalf of the buyer. We can also bid at auctions on behalf of our clients.

A Real Estate Buyer’s Agent works only exclusively for the buyer, whereas a traditional selling agent works for and receives their commission from the vendor in a real estate transaction. The selling agent has by law, a ‘duty of care’ towards the buyer, however it should always be remembered that ultimately they are working under instruction for their client, the seller. Under the Property Agents and Motor Dealers Act (PAMD Act) (Regulation 2001, Part 3, Clause 29), they must obtain the ‘maximum’ sale price for their client.

A Real Estate Buyer’s Agent has a duty to negotiate the best possible price and terms and conditions for their client, the buyer. Licensed Buyer’s Agents must comply with the PAMD Act, thus protecting the property buyer from underhanded practices.

A Buyer’s Agent, like all licensed real estate agents, cannot commence acting on your behalf, until appointed in writing by their client. This document is called a PAMD Form 22a – Appointment of Real Estate Agent (sales & purchase) and must be completed and signed prior to any work being carried out. It sets out the rights and obligations of both the agent and the client.

It is interesting to note that using a Buyer’s Agent to purchase property, is becoming more widespread throughout Australia. Both home buyers and investors are beginning to understand the benefits associated with appointing a Buyer’s Agent to act on their behalf. We provide our clients with all the knowledge needed, so as to make an informed decision regarding the property of interest. All the sales ‘hype’ quite often generated by selling agents and their glossy brochures, can be avoided by utilising the services of a Buyer’s Agent.

Buyer’s Agents do not get emotionally involved in the negotiation or auction process, thus mitigating the risks of costly mistakes, which are made by some buyers along the way.

One misconception perceived by some ill-informed property buyers and investors, is that the services of a Buyer’s Agent would be too costly. This is generally not the case. A professional and committed Buyer’s Agent, can save their clients time, money and stress, as well as providing a whole range of additional benefits not otherwise available to an unrepresented buyer. In the United States of America (USA) alone, it has been reported that over 50% of the population utilise the services of a Buyer’s Agent, when purchasing property.

An engagement or appointment fee is generally charged upfront (once the PAMD Form 22a has been signed and completed), prior to a Buyer’s Agent commencing acting for their client. These fees can either be a fixed rate or a percentage of the property purchase price, however not exceeding the maximum amount set by law (5% of the first $18,000 & 2.5% of the remainder of the balance).

Who Uses a Real Estate Buyer's Agent?

Unlike traditional selling agents, Tablelands Property Find specialises in purchasing property exclusively for you, the buyer!

We are able to source property for our clients, using the contacts and built up network, that only a specialist Buyer’s Agent familiar to the area and its people can do. Our services allow property buyers to utilise their precious time better, thus alleviating the need of labour intensive searching through newspapers, brochures and internet data bases.

At Tablelands Property Find, we are professional negotiators, obtaining the lowest possible price and under the best terms and conditions for our clients. Our knowledge of the local area, allows us to source the right type of property in locations with good prospects for capital growth, therefore assisting investors to build their property portfolio faster.

As Tablelands Property Find acts only on the buyers behalf, we ensure client confidentiality regarding any personal and financial information you may disclose to us. It is quite often regarded to be a negotiating advantage when remaining anonymous in property transactions. As your Buyer’s agent, we represent you in all property purchase transactions.