One of the biggest questions people ask when it comes to buyer’s agents is, what are buyer’s agent Sydney fees? And while there’s not a simple answer, we’re here to tell you that, no matter what, they’re always worth it - provided you choose a good buyers agent.
To dive deeper into the topic, we’re going over what buyer’s agents are, what they do to help property buyers, what buyer’s agent Sydney fees entail and why these fees are certainly worth it in the long run.
What is a buyer’s agent?
A buyer’s agent advocates for the buyer of a property. In other words, if you’re looking to purchase a property, buyer’s agents can help you with the entire process from start to finish.
Buyer’s agents, unlike real estate agents, are specifically bound to the buyer as opposed to advocating for both buyers and sellers. In fact, real estate agents actually advocate for the listing itself. The goal of a real estate agent is to sell property whereas a buyer’s agent is specifically working for the buyer to help them get the best deal on the best property for them.
What does a buyer’s agent do?
Buyers pay buyer’s agent Sydney fees to wear many hats. You’ll pay them to do pretty much everything on your behalf in the property purchasing process.
Find and Vet Properties
Buyer’s agents find their buyers options for potential properties. One of the main benefits of working with a buyer’s agent at this stage is that they have access to hidden gems and property options that aren’t even technically on the market yet. You’ll also save loads of time by allowing your buyer’s agent to find available properties for you.
Instead of winging it when buying a property, buyer’s agents use their insider data to come up with better strategies to help you get the best deals possible in the least amount of time. These strategies prove especially helpful when it comes to building your investment portfolio and choosing properties and strategies that will successfully build your wealth over time.
Work on Contracts
While your buyer’s agent isn’t the same as a real estate solicitor, your buyer’s agent will work closely with the solicitor to advise you on the most favourable contract terms or negotiate for better terms. Buyer’s agents will also help to explain all the legal contracts that can otherwise feel overwhelming to look over on your own.
Most people aren’t expert negotiators but this is where buyer’s agents can really help. Using their skills and experience, buyer’s agents can advocate for you in heated negotiations so that you can stress less and still get the best deal possible.
Share Advice and Expertise
There will be a lot of decision-making to do during each stage of buying a property and buyer’s agents can share their advice and expertise along the way. It’s so helpful to have an expert on your side who can help you through some of these difficult decisions.
What are buyer’s agent Sydney fees?
In Sydney, buyer’s agents charge their fees in a few ways. Two of the most common fee structures are commission-based fees and fixed fees.
If your buyer’s agent charges a commission, it usually ranges between 1.5% and 3% of the final price of the property they help you to buy. So, if you buy a home for $900,000 and your buyer’s agent earns a 2% commission, they’ll charge $18,000.
If your buyer’s agent charges a fixed fee, it usually ranges between $8,000 to $21,000 with an average of around $14,500.
Is it worth it?
Yes, working with a buyer’s agent is definitely worth it. Not only will you get the peace of mind of having a real estate expert on your side, but you’ll also save time and often, you’ll save money too.
In fact, our buyer’s agents at Wealth 360° have managed to help some of our clients make money on a property purchase. If that’s not worth investing in a buyer’s agent’s Sydney fees, we don’t know what is.
Overall, for a fraction of the cost of your home, buyer’s agents offer loads of benefits and hardly any downsides. So, if you’re interested in learning more about how a buyer’s agent can help you towards your next property purchasing endeavour, contact Wealth 360° today