Frequently asked questions
WHAT IS A BUYERS AGENT ?
A buyer’s agent is a property expert hired by the buyer to be their advocate during the property buying process. These agents are firmly on the buyer’s side, guiding and supporting them in a real estate world primarily focused on sellers.
A professional buyers agent requires 2 main things:
1. Appropriate training
2. A Real estate representatives licence
‘Appropriate training’ can vary but in the case of Davada Property Buyers Agency our training was conducted by Ben Handler who was the Co-founder of Australia’s largest Buyers Agency.
‘Real estate representatives license’ – This surprises many people.
A licensed Buyers Agent must have the same qualification and government registration as a real estate agent.
This qualification varies from state to state but each buyers agent must have this to operate legally and proffessionally.
Having this registration puts a buyers agent on the same ‘footing’ with exception that the buyers agent works FOR you.
WHAT ARE THE ADVANTAGES OF HAVING A BUYERS AGENT?
You get your time back – Searching for property takes time. In addition to browsing listings, you’ll also need to dedicate a part of your weekend to viewing these in person. When multiple listings show an open house inspection on the same date and time, it can be exhausting driving from one location to the other. A buyer’s agent can save time by doing the hunting for you, based on your requirements.
Bidding at auctions – Auctions can be intimidating for someone who’s never participated in one before. A buyer’s agent can make you feel at ease and prevent overbidding, as well as employ some strategies to help remove competition and potentially get a better price for you at auction.
You can potentially save money – A buyer’s agent has experience in negotiating a better deal on the purchase price. Additionally, they can help you understand how much a property is worth.
Better access to off-market properties – It’s a fact that some properties just aren’t advertised online. A buyer’s agent has access to many of these off-market properties and can provide you with an opportunity that you wouldn’t have been able to discover by yourself.
Emotional detachment – A buyer’s agent has no emotional interest in the property you’ve selected, which means they can objectively view the home and see it for what it is. As a buyer, you may be more likely to pay over market price for something you’ve set your heart on.
DIFFERENCE BETWEEN A BUYER’S AGENT AND SELLER’S AGENT?
A buyer’s agent assists buyers by locating properties, providing guidance throughout the process, and negotiating favourable terms.
A seller’s agent supports sellers in listing, marketing, navigating the sales process, and negotiating the most advantageous terms.
HOW DO BUYER’S AGENTS GET PAID?
Buyer’s agents commonly receive compensation through a commission, which is included in the overall real estate transaction and paid for by the buyer.
Incidently, if your property is an investment or commercial property then this fee is tax deductable.. (We recommend you have this confirmed / clarified by your accountant / finacial advisor)
WHY SHOULD I HIRE A BUYER’S AGENT?
Buyer’s agents offer their market knowledge, aid in property searches, manage negotiations, and navigate you through the difficulties of the home buying process. This ultimately saves you time and ensures the protection of your interests.
WHEN SHOULD I HIRE A BUYER’S AGENT?
It’s beneficial to involve buyer’s agents early, even before starting the your property search, as they provide valuable advice from the beginning.