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What is a buyer’s agent?

Although you may have heard the term ‘buyer’s agent’, there’s a chance you don’t know what a buyer’s agent actually is, let alone what they do. So, let’s start by going over the definition of a buyer’s agent and how they can help you secure property.

Buyer’s agent definition

A buyer’s agent finds, vets and evaluates property on behalf of a buyer, the person looking to purchase a property.
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Buyer’s agents are legally bound to advocate for buyers and, contrary to real estate agents who work with both buyers and sellers, buyer’s agents are fully at the buyer’s disposal.
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Buyer’s agents and real estate agents essentially have different clients. Buyer’s agents work specifically for buyer’s with the goal of making sure the buyer gets the best property for the best price. Real estate agents focus on advocating for the property itself. Their goal is to ensure the property sells quickly and to the highest bidder. Of course, they’re interested in helping both buyers and sellers, but they ultimately have differing aims.
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It’s easy to confuse the two but, in general, buyer’s agents help you buy the property and real estate agents help to sell it.

So, now that we’ve cleared that up, let’s look into what buyer’s agents actually do.

What does a buyer’s agent do?

Buying property is no easy feat. Especially for first time home buyers, there’s a lot going on. Buyer’s agents are property experts who can advocate for you and offer advice during the property buying process.
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Here are a few of the main ways a buyer’s agent can help you.

Finds quality property.

Searching for an available property on your own often means many dead ends and wasted time. Buyer’s agents can take your wish list and run with it, ensuring you only look into quality properties that are worth the inspection. They can also help you narrow down the best suburbs for your circumstances and offer suggestions you may not have thought of.

Helps in negotiations.

Buyer’s agents can help you get the best price for your new property. They’ll ensure you’re negotiating the best settlement terms and offers while helping you through any complicated paperwork that will inevitably come your way. You won’t have to worry about getting ripped off with a buyer’s agent. Better yet, a good buyer's agent will make you money on the day you buy.

Offers connections.

Your buyer’s agent will likely have a huge network in the property industry who can help you find the best mortgage brokers, real estate solicitors, home inspectors, contractors, and everyone in-between who can help make the property buying process as seamless as possible.

Real estate investment strategies

Buyer’s agents can help you create a successful investment strategy instead of just winging it on your own. You’ll work together to build a portfolio offering real returns, based on data, expertise and long-term financial goals.

Professional expertise.

Most likely, there will be bumps in the road when buying property and you’ll be glad to have someone with professional experience on your side. Each decision you make is an important one when it comes to property and a buyer’s agent helps you feel confident that your choices are based on true expertise.

The Wealth 360° difference

So, how does Wealth 360° stand out? Well, in short, we’re in it for the right reasons. We’re helping more property get into the hands of good people, helping them build wealth for their families and create more security for future generations.
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We also offer a strategic approach to real estate investment that’s more than one and done. We’re in it for the long haul and want to help our clients buy multiple properties....and most do! Even if you were told you couldn't invest in real estate in the past, we map the path to unlock your investment potential.
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Our secret sauce is in creating holistic strategies that are tailored to our clients. We help you create well-rounded, highly profitable portfolios through a long-term relationship with our buyer’s agents, not just one-off purchases.

40%

Repeating clients

$200k

Saved on average purchase

$600k

Average equity on 24 months

Benefits of a buyer’s agent

Save time

Searching for property listings takes times. Going to property inspections takes time. Drawing up paperwork takes time. Negotiating a deal takes time.
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In fact, it all probably takes longer than you think. And that’s where buyer’s agents can really help. They save you so much time by doing it all for you.
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They find the best properties on the market that meet your specific requirements. No more spending hours online searching for available options, only to find out that they need a lot more work than the sellers made it out to be.
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They vet all the paperwork and make sure all you have to do is sign on the dotted line. No more emails back and forth reading four versions of the same proposal.
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They do all the negotiating. No more hours of heated phone calls or long, anxious nights feeling like you might be getting a bad deal.
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As you can see, you’ll save countless hours by working with a buyer’s agent. And as the saying goes, time is money.

Meet the right people

Although a buyer’s agents job ends once the keys are exchanged, their advice has long-lasting benefits for the buyer. As we mentioned above, buyer’s agents are well-connected in the real estate industry and you’ll meet the right people to help you with the next steps in the property ownership process.
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Remember, building wealth isn’t only about investing. It’s also about being careful about where your money goes. When you work with a buyer’s agent, you can rest assured that your money is going into hands you can trust. After all, it’s not always about what you know but who you know.
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Especially if you’re unclear about what exactly you need, from mortgage lenders to renovation contractors to interior designers, you can trust that your buyer’s agent can point you in the right direction.

Peace of mind

Peace of mind is worth a lot. It’s one of those things that when you have it, you don’t really notice. But when it’s gone, there’s almost nothing you crave more.
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Buyer’s agents not only help with all the logistics of buying a property with their years of expertise and quick-thinking, but they offer peace of mind.
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Peace of mind that you’re getting the best deal.
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Peace of mind that you’re on your way to building wealth.
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Peace of mind that the property buying process won’t take any longer than it needs to.
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Instead of sleepless nights spent worrying about whether you’re making the best choices for you and your loved ones, a buyer’s agent is worth their weight in gold for the amount of peace of mind they offer.

Step up your negotiation

We touched on negotiation before but it’s worth another mention. The ability to negotiate effectively when buying property is essential if you want to build wealth.
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Whether you’re buying your first home or your third investment property, you can trust that your emotions will get involved. And we all know that emotional negotiations never end well.
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When you work with a buyer’s agent, they can advocate for you as a much-needed third party in your negotiations. They’re, at the same time, on your team while still maintaining the distance required to take their emotions out of it and get you the best deal possible. The benefit of better negotiation alone makes working with a buyer’s agent completely worth it.

How do you select a buyer’s agent?

Once you’ve decided that hiring a buyer’s agent is a good idea, what do you do next? Here, we’re giving you some insight into how to select a buyer’s agent.

Step 1 - Understand your needs.

First thing’s first, it’s important to understand what exactly you need. Ask yourself questions like:
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    - Am I looking for residential or commercial property?
    - Do I want to live in this home or is it an investment?
     - Are there specific suburbs I want to buy in?
     - What’s my budget? Are there other financial considerations?

When you understand your needs and have a super clear idea of what you’re looking for, it makes selecting a buyer’s agent so much easier.
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You don’t need a commercial buyer’s agent if you’re looking for residential property. Buying a home is vastly different from buying an investment property.

It takes years to be knowledgeable about a certain suburb. And obviously, your budget will affect your purchasing power.
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You want to make sure the buyer’s agent you choose can give you what you’re looking for. Be sure to avoid a buyers agent who has a limited range of stock and strategies or one size fits all approach. You want a buyer’s agent with the skills to meet your unique needs.
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Every seller, buyer and property is going to be different. So, to find the best buyer’s agent for you, first and foremost, be specific about what you’re looking for.

Step 2 - Do your research.

Once you know what you’re looking for, it’s time to start doing your research. This might take a bit of time, but it’s better than going with the first buyer’s agent you find.
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You might start with an online search. Make sure to check out their previous projects, results for their buyers, and pay attention to their track record and performance.
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What types of properties have they secured for their buyers? Do their buyers come away with a profit? What are the average results from this particular buyer’s agent?
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You can also ask around to see if any of your friends or family members had a good experience with a buyer’s agent. Once you have a few recommendations, you have a solid place to start your research.
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Remember, bigger doesn’t always mean better. Many buyer’s agents rely on brand awareness and recognisable names to sell their services. While sometimes it works out, make sure to do your own research and look for a buyer’s agent that matches your unique needs.

Step 3 - Set up a consultation.

Last but not least, it’s time to set up a consultation. You’ve narrowed down your list and found a few buyer’s agents who you think might fit the bill. They specialise in your area, they have a track record of successful purchases, and you’ve really done your homework.
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Setting up a consultation and meeting potential buyer’s agents helps you make sure you’re actually a good fit and that you share the same values. A consultation is where you’ll be able to ask questions, build rapport, and gauge how comfortable you are around them.
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It’s so important that the buyer’s agent you work with understands your goals and tastes. You want to be on the same page throughout the entire process. There are so many ways to approach property buying and wealth building, so don’t work with a buyer’s agent with whom you fundamentally disagree.

Final thoughts

Working with a buyer’s agent is your first step towards building wealth. Again, there’s not one single way to buy a property and invest in the real estate market. Property prices are always fluctuating, suburbs are always changing, and the steps you took to buy your first property could be vastly different from how things go this time.
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Overall, working with a buyer’s agent is essential for anyone looking to build wealth through property ownership, no matter whether it’s your first time or fifth.

At Wealth 360°, we’re committed to the best possible outcomes for our clients. We have a clear mission and unique strategies with a proven track record of outstanding purchases for our buyers. Yet, we’re not for everyone.

We’re for the buyers who want to build wealth for good. For those who want to provide for their families and gain financial freedom to give back to their communities, not chase empty riches.. We don’t want to compete with the big names in real estate. We simply want to serve the Australians who need us.

If you think our values align and you’re ready to build your dream life, get in touch today!

What our clients say

Kudos to the team. We achieved so much more than we could have on our own.

Lalitha & Thav

It has been an amazing experience and we trust Wealth 360° whole-heartedly.

Puneet & Mona

I wasn’t sure I could invest, but like magic, they made everything work for me!

Vijendra

I'm very gald we crossed paths. I'm very excited about what the future holds.

Ansa

It is important for women to invest and achieve their financial independence.

Asuman

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FAQs

What is a buyer's agent?

A buyer’s agent helps to find, vet and evaluate a property on behalf of a person looking to purchase a property. Buyer’s agents have real estate market expertise and advocate for buyers, helping them to negotiate better deals and connect them with a strong network. Different from a listing agent or real estate agent who advocates for the property itself, buyer’s agents are in it for the buyers.

When should I use a buyer’s agent?

You should use a buyer’s agent when you’re looking to purchase a property. Buyer’s agents work with first home buyers, experienced investors, and everyone in between. With an ever-changing real estate market, it’s smart to hire a buyer’s agent any time you’re ready to buy land or property.

How do I select a buyer’s agent?

To select the best buyer’s agent for you, start by understanding what exactly you’re looking for from the type of property you want to buy, the reason you’re in the market, and your maximum budget.Then, you can start doing some research by hopping online and talking to friends and family.Finally, you’ll set up a consultation to get to know the potential candidates. Make sure your values align and that you get along. Buying property is no walk in the park, so you need someone you trust on your side.