In the real estate market, knowledge is profit rather than only power. Whether you are a novice buyer or a seasoned investor, knowing who speaks for your good interests can make all the difference in a good deal from a costly error. Particularly, purchasers in Australia’s competitive property market often negotiate a difficult terrain of high prices, bidding wars, and few listings.
Many purchasers believe that a real estate agent is their go to source, but what if the agent you are consulting works for the seller? Today we will look at the key distinctions between a buyers agent vs real estate agent, guiding your choice and guaranteeing you have the appropriate specialist.
A buyer agent, sometimes known as a buyer’s advocate, is a licenced professional assigned to represent property buyers throughout the purchase process. Their main responsibility is acting in the buyer’s interest by offering objective guidance and knowledge. They follow this:
Often called an agent, a real estate agent serves property sellers to guarantee a good price. Listing, marketing, and vendor property sales negotiations fall to them. Their main obligations comprise:
To clarify the distinctions, here’s a side by side comparison:
| Feature | Buyers Agent | Real Estate Agent |
| Representation | Works for the buyer | Works for the seller |
| Loyalty | Buyer’s best interest | Seller’s best interest |
| Who Pays? | Buyer pays a fixed fee or percentage | Seller pays via commission |
| Property Search | Finds properties (including off market) | Lists properties for sale |
| Negotiation Focus | Secures the lowest price for buyers | Secures the highest price for sellers |
| Legal Obligations | Acts as a fiduciary for the buyer | Acts as a fiduciary for the seller |
| Market Advice | Provides unbiased insights | May favor properties they list |
| Investment Advice | Provides long term property strategies | Focuses on closing immediate sales |
| Conflicts of Interest | None; works solely for the buyer | Possible; aligns with seller’s interest |
Your particular objectives and situation will determine the appropriate decision. Each professional fits exactly at this point.
There are many misconceptions about the roles of buyer agents and real estate agents. Let’s debunk a few:
Although some real estate brokers could help purchasers, their main responsibility is to the seller. Legal obligations bind them to achieve the greatest price for the seller. Hence, they concentrate on getting the perfect bargain for the vendor rather than the consumer.
Buyers often believe a real estate agent will work to their advantage. Still, their goal is to maximise the seller’s profit, which could lead to bidders overpaying for a house.
Conversely, a buyer’s agent speaks for the buyer, ensuring the buyer gets the finest house at the best available price.
Although many consumers believe they cannot afford a buyer agent, their capacity to negotiate better bargains usually results in long term savings for them more money.
By doing due research, buyer agents help purchasers avoid expensive mistakes by ensuring they do not overpay or buy a house with unspoken problems.
Although buyer agents pay a fee, their sector contacts can provide clients with underpriced off market deals and properties, saving significant long term costs.
The listing agent’s duty is not to assist the buyer in obtaining a reduced price but to maximise the seller’s price.
Negotiators who deal directly with a listing agent cannot get complete information on better options, market conditions, or property flaws.
A buyer’s agent levels the playing field by offering unbiased counsel, market analysis, and negotiation techniques to assist consumers in achieving a good price and terms.
Although purchasers often rely on buyer agents to find attractive prospects, first home buyers, upgraders, and downsizers will find these experts equally helpful.
Employing a buyer agent’s market expertise, contract counsel, and negotiating prowess, first home buyers gain from which to lower their risk of expensive blunders.
Owner occupiers seeking help locating the ideal house might use a buyer’s agent’s knowledge to uncover unpublicly listed homes. Hence, they have a house that fits their needs.
The property market is fiercely competitive. A buyer’s agent can reap major benefits from securing off market properties and ensuring purchasers do not overspend.
Rise Property Purchasers offers purchasers unmatched local market knowledge for property purchases. You should give working with them some thought for the following:
Your property objectives will determine whether you choose buyers or real estate agents. A buyer agent can offer the impartial representation and knowledge required to get the greatest price if you want to purchase.
