Buyer’s agents: what they do, what they cost, and whether you need one
A licensed agent who acts only for you, the buyer. A selling agent works for the vendor and is paid to get the best price for them; a buyer’s agent is paid by you to find, assess and negotiate for you.
Free to ask. Our buyer’s agent network is still being built, so we’ll tell you honestly whether we can introduce someone in your area.
Who each agent works for
It matters most when you negotiate. You don’t need a buyer’s agent to deal with a selling agent, but it helps to know whose side each one is on.
A buyer’s agent acts for you
A buyer’s agent acts only for the buyer and is paid by the buyer. Their job is to find, assess and negotiate for you, within the limit you set.A selling agent acts for the vendor
A selling agent acts for the vendor and is paid by the vendor, usually as commission on the sale. Their job is the best price and terms for the seller, however helpful they are to you at an open home.
What a buyer’s agent does
A full engagement runs from your brief to exchange of contracts. Some buyer’s agents offer only part of it, such as negotiation or auction bidding on a property you’ve found yourself.
- 1
A first consultation about your brief, budget and timing
What you want, where, the most you’ll pay, and exactly what the engagement covers, agreed in writing. - 2
Searching, including properties not yet advertised, and checking them against your brief
They inspect, shortlist and check each property against your brief, so you spend your time on the ones that fit. - 3
Price evidence, negotiation or bidding at auction on your behalf, and managing due diligence to exchange
They use recent sales to set what to offer, negotiate or bid within your limit, and work with your conveyancer and inspectors until contracts are exchanged.
When one can help, and when you probably don’t need one
Most people buy without a buyer’s agent. It comes down to how well you know the area, your time, and how you feel about negotiating.
Can be useful when
- You’re buying in an area you don’t know, or from interstate
- You’re short on time, or uncomfortable negotiating or bidding
- You’re buying at a price where a better negotiation can outweigh the fee
Usually not needed when
- You know the suburbs well and can follow recent sales yourself
- You have time to inspect, and you’re comfortable negotiating or bidding with a firm limit
- The fee would stretch a budget that’s already tight once stamp duty and other costs are in
What a buyer’s agent costs
Buyer’s agents charge you directly: often a fixed fee (about $10,000 to $18,000 in capital cities for a full search) or 1.5% to 3% of the purchase price, sometimes with an upfront engagement fee. Auction bidding alone costs much less. Ask for the full fee in writing before you sign.
You pay a buyer’s agent yourself; the vendor doesn’t. Weigh the fee against your whole budget, after stamp duty, conveyancing, inspections and loan costs.
Questions to ask before you engage one
Ask every buyer’s agent you’re considering the same questions, and get the answers in the engagement agreement before you sign.
Are you licensed in this state, and what’s your licence number?
Check it on the state register below before you sign anything.
How are you paid: a fixed fee, a percentage, or both?
Ask for the total in dollars at your budget, and when each part is due.
Do you receive any rebate, commission or referral fee from vendors, developers, selling agents or anyone else?
Ask for the answer in writing. Anything they’re paid by the other side of a deal is something you need to know about.
Could you have a conflict of interest?
For example, another client looking in the same streets, or a link to an agency that sells there. Ask how they’d handle it.
Is the engagement exclusive, for how long, and how do I end it?
Read the term and the exit clause in the engagement agreement.
What exactly is included?
Search, unadvertised properties, inspections, due diligence, negotiation, auction bidding: get the list in writing.
Is there an upfront engagement fee, and is it refundable?
Ask what happens to it if they don’t find a property, or if you end the engagement.
Who will do the work?
The person you meet, or someone else in their team.
Check a licence yourself
Each state keeps a public register of licensed agents.
- NSW Fair Trading licence check(opens in a new tab)
- Consumer Affairs Victoria licence search(opens in a new tab)
- Queensland licence search (Office of Fair Trading)(opens in a new tab)
- WA Consumer Protection licence search(opens in a new tab)
- SA Consumer and Business Services licence search(opens in a new tab)
- Property Agents Board of Tasmania register(opens in a new tab)
- Access Canberra public register(opens in a new tab)
- NT Agents Licensing Board(opens in a new tab)
Asking us about a buyer’s agent
We’re still building our network of buyer’s agents, so we can’t promise an introduction in your state yet. Our team reads every request and will email you within one business day to say whether we can introduce someone, and if not, how to choose one yourself.
Guides and plans never share your details
Downloading a buying guide or making a plan never authorises us to share your details with anyone. Only the permission box on the introduction form does.
Buying and selling are two separate yeses
If you’re also selling, an introduction to a selling agent is a separate request with its own permission. Saying yes to one never covers the other.
How we’re paid
Our introductions are free for you. The agent we introduce you to pays us a fee for the introduction, whether or not you go ahead with them. It doesn’t change what you pay them, and you’re never obliged to use them. The full detail
- 1
Tell us what you need
A few questions about the property or the purchase, where it is and your timing. Choose how you’d like to be contacted. - 2
Give your permission
We only introduce you if you tick the box. Buying and selling are separate introductions, each with its own yes. - 3
Our team reviews it by hand
We check whether a participating buyer’s agent covers your area, and email you either way. Until then nobody else has your details. - 4
If we can introduce someone, they contact you
One buyer’s agent, never a list. You decide whether to meet them and whether to engage them. There’s no obligation.
Common questions
What’s the difference between a buyer’s agent and a selling agent?
A selling agent acts for the vendor and is paid by the vendor, usually as commission on the sale. A buyer’s agent acts only for the buyer and is paid by the buyer, to find, assess and negotiate for them.
How much does a buyer’s agent cost?
Buyer’s agents charge you directly: often a fixed fee (about $10,000 to $18,000 in capital cities for a full search) or 1.5% to 3% of the purchase price, sometimes with an upfront engagement fee. Auction bidding alone costs much less. Ask for the full fee in writing before you sign.
Do I need a buyer’s agent?
Most people buy without one. A buyer’s agent can be useful if you’re buying in an area you don’t know or from interstate, you’re short on time, or you’re uncomfortable negotiating or bidding. If you know the area and have time to research sales and inspect, you may not need one.
What should I check before signing with a buyer’s agent?
Their licence on your state’s register, how they’re paid and the total fee in dollars, whether they receive any rebate, commission or referral fee from vendors, developers or anyone else, any conflict of interest, whether the engagement is exclusive and for how long, exactly what’s included, and whether any upfront engagement fee is refundable.
Can Your Property Guide introduce me to a buyer’s agent?
We’re still building our network of buyer’s agents, so we can’t promise an introduction in your state yet. Our team reads every request and will email you within one business day to say whether we can introduce someone, and if not, how to choose one yourself. We only pass on your details if you ask for an introduction and tick the permission box.
Does downloading a buying guide put me in touch with a buyer’s agent?
No. Downloading a buying guide or making a plan never authorises us to share your details with anyone. Only the permission box on the introduction form does. If you’re also selling, an introduction to a selling agent is a separate request with its own permission. Saying yes to one never covers the other.