Buyer's agent
A licensed agent who represents the buyer, not the seller, in a property purchase. They search, assess, negotiate and manage the purchase on the buyer's behalf.
- Works for and is paid by the buyer
- Must hold a real estate licence in the state where they act
- Different from a selling agent, who works for the vendor
How it works
A buyer's agent agrees a written brief with you, then searches the market, assesses properties, negotiates the price and terms, and manages the purchase through to settlement. Many also source off-market properties through agent relationships.
Buyer's agent or selling agent?
A selling agent is engaged and paid by the vendor, and their job is to get the highest price. A buyer's agent is engaged and paid by you, and their job is the right property at the right price. In NSW, an agent must disclose any referral benefits they receive.
For investors, the value is usually in the properties you avoid. Ask any buyer's agent how they choose markets, who pays them, and what happens after settlement.
Common questions
Do I have to use a buyer's agent?
No. Many people buy without one. A buyer's agent saves time and brings research, access and negotiation experience.
Can a buyer's agent work for the seller too?
They should not act for both sides of the same purchase. Check their agreement and disclosures.
Related terms
Sources
General information only. It does not consider your objectives, financial situation or needs, and is not financial, credit, tax or legal advice. Rules change, so check current law and get advice from a licensed professional before acting.