7 Tips When Choosing A Buyer Agent


Not all buyer agents are equal. 

Here are 7 key things you should know before employing a buyer agent in Australia

1 - Make sure you’re paying your advocate.  Some buyer advocacy services are promoted as ‘free’.  Nobody works for free in real estate.

An agent in Australia cannot (by law) accept a fee from both buyer and seller in any one negotiation.  

If you are not paying the agent, the seller is.  In this circumstance he agent is not working for you, they are working for the seller, and most likely getting a 'kick back from the seller'

They are not a buying agent - they are a selling agent.  Walk away. 

2 - Some buyer advocates will charge a percentage of the purchase price as their fee.

In other words – the more you pay for a property, the higher their fee. 

In such circumstances, the advocate as a motivation to push you to pay more.

This is a clear conflict of interest.  

Make sure you find an agent that agrees to fix their fees in advance, regardless of how much you pay for the property. 

3 - Is your advocate licensed? The Business Licensing Authority (BLA) in each state regulates the real estate industry.

All real estate agents (including buyer advocates) must be licensed.

Make sure you are engaging with a fully licensed agent. A name check is available on each state’s BLA website. If they’re not licensed – you are advised to report them.

4 - Don’t sign up with an agent that tries to restrict you to only purchasing within certain areas of the city.  

Some agents only recommend buying within 5 – 10km of the CBD (very convenient for those offices that are centrally located).

Others recommend just apartments or townhouses (speculating on the myth that we’re all a nation of downsizers and this is the best long term investment).

They do this because it often suits their business model.

There’s an abundance of apartments in the city – too many for the current market.  

They are a quick and easy buy.

Your advocate should be ‘thinking outside the square.’

There are other options available for a modest budget that are as good, if not better, for you as an investor than apartments.

Buying on the doorstep of the CBD is not always the best strategy.  

There is no ‘golden egg’ to real estate investing.  

Work with an advocate that is flexible enough to suggest and consider all options suited to your needs – not theirs.

5 - Don’t believe the hype.  If your advocate starts to sound like a property spruiker or sales agent, it should be a red flag.

Comments such as “all property prices double every 7 - 10 years,” or “there’s a shortage of homes in Australia” (insinuating prices will never crash or drop) are a good indication the agent lacks knowledge and integrity. Anderson & Cashmore Real Estate Advocates will never lead you down this path.

6 - Do not be afraid to ask to speak to someone the buyer agent has purchased for previously or check company testimonials.  

You need to understand exactly what their costs are and the level of service you can expect in return for your money.

7 - It’s important you trust the agent you are working with.  

If you have not worked for them before, complete your own due diligence concerning the information you have received. 

Do not feel rushed into making a decision.

Buyer advocates should be pointing out both the positive and negative in every home – they are not there to sell you the property or pressure you into buying.  

Make sure you sign a contract that enables you to walk away and employ someone else if you’re not happy with the service you are receiving.

Please contact us for more information.

 

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Buyer Advocacy

Buyer Advocacy

Whether you want us to bid at auction, or provide a comprehensive buyer advocacy service to search, asses and negotiate your ideal investment property or home, we tailor a plan ideally suited to your individual needs.

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Development

We have the expertise to assist with any type of development you are considering - large, or small - from concept to completion.

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What our Clients are Saying

Catherine worked tirelessly in finding me a great property at a good price. She did things that I wouldn't have done (hours and hours of legwork) and more importantly, couldn't have done (organising the purchase before anyone else had even put in an offer). When I was ready to give up, Catherine kept working. I'm certain that I never would have been able to buy the same property within 10k of what we eventually settled at.... David
The expertise you bring are excellent and helped us understand the process and what to do and what not to do. You discussed at the beginning that by using you it will save us money and in our instance and the current environment of Melbourne’s market I believe you saved us $100,000 or enabled us to get into a suburb which going to auction would have gone way over our limit. You worked tirelessly to help us purchase a home.... Karen
“You impressed us from the start, especially compared with the other buyers agencies we approached…” - Raj

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Why use Cashmore & Co?

Our advocates and researchers are international experts on market and real estate cycles. 

With decades of experience working in the Australian real estate market Catherine Cashmore and her associates have lectured widely on the real estate cycle and the economics of investment.

Cashmore & Co use their expertise to assist investors, home buyers and developers.  They simplify the buying process saving buyers thousands in negotiation, as well as preventing costly mistakes.

Cashmore & Co's services and expertise will not only assist you to increase your wealth, but also educate you to become a better investor.

Please click here to see the range of services we offer. 

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About Catherine

Catherine Cashmore

Owner - CEO

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Catherine Cashmore has been working in the Australian real estate market for over 14 years.

She has assisted hundreds of home buyers and investors to secure real estate in the best possible location, for the best possible price.

A regular and highly respected commentator across local and international media, Catherine speaks about all aspects of real estate and the economy.

A sought after public speaker and President of Australia's oldest economics organisation, Prosper Australia, Catherine is called upon regularity to interact with policy makers and housing organisations to discuss real estate policy reform. As such she has an in depth knowledge about the Australian real estate market, few can rival.

Working with Philip J Anderson, an international leader on market cycles, Catherine is an expert on the real estate/land cycle and its effects on regional markets around the world.

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