Quick Definition
A buyers agent (also called buyer's agent, buyer's advocate, or buying agent) is a licensed real estate professional who represents property purchasers exclusively.
Unlike selling agents who work for vendors and aim to achieve the highest price, buyers agents work for you—the buyer—to help you find the right property at the right price.
What Is a Buyers Agent?
A buyers agent is a licensed real estate professional who works exclusively for property buyers. They're also known by other names including:
- Buyer's advocate – common term in Victoria
- Buying agent – alternative terminology
- Buyer's agent – with apostrophe
- Property buyers agent – full description
- Buyer representative – formal term
Regardless of the name, the role is the same: representing your interests as the purchaser throughout the property buying process.
This is fundamentally different from traditional real estate agents (selling agents) who represent vendors and are paid to achieve the highest possible sale price.
The Key Difference: Who They Represent
Understanding who an agent represents is crucial because it determines whose interests they serve:
| Aspect | Buyers Agent | Selling Agent |
|---|---|---|
| Represents | Buyer exclusively | Seller (vendor) |
| Paid by | Buyer | Seller |
| Primary goal | Find right property, best price for buyer | Sell property, highest price for seller |
| Loyalty | 100% to buyer | 100% to seller |
| Negotiation stance | Negotiate price down | Negotiate price up |
| Information sharing | Full disclosure to buyer | Full disclosure to seller |
Every agent you meet at an open home is paid by the seller. They may be friendly and helpful, but their legal obligation and financial incentive is to achieve the best outcome for the vendor—not you.
What Does a Buyers Agent Do?
Buyers agents provide comprehensive services throughout the property purchase process:
Property Search
Finding properties that match your criteria from both on-market listings (Domain, realestate.com.au) and off-market opportunities through agent networks. This includes identifying properties you might miss and filtering out those that don't meet your needs.
Shortlisting & Assessment
Evaluating properties against your brief, inspecting shortlisted options, and providing objective assessments. This saves you time by ensuring you only view properties genuinely worth considering.
Due Diligence
Coordinating building and pest inspections, strata reports, contract review (with your solicitor), planning checks, and identifying potential issues that could affect value or liveability.
Market Assessment
Analysing comparable sales, understanding local market conditions, and providing an objective opinion on property value to inform your offer strategy.
Negotiation
Developing and executing negotiation strategies, dealing directly with selling agents, and working to achieve the best possible price and terms on your behalf.
Auction Bidding
Professional representation at auction, bidding on your behalf with experience and strategy. Removes the emotion and pressure many buyers feel in auction environments.
Settlement Coordination
Managing the process from exchange through to settlement, coordinating with solicitors, and ensuring a smooth path to receiving your keys.
Why Do People Use Buyers Agents?
People engage buyers agents for various reasons:
- Time constraints: Professionals who can't spend weekends attending open homes and researching properties
- Off-market access: Want to find properties that never appear on public portals
- Interstate or overseas buyers: Relocating and need local expertise before arriving
- Negotiation confidence: Want professional representation when dealing with experienced selling agents
- Competitive markets: Need every advantage when multiple buyers chase limited stock
- Auction anxiety: Prefer professional bidding rather than competing emotionally
- First home buyers: Need guidance through an unfamiliar and high-stakes process
- Investment purchases: Want objective analysis without emotional attachment
- Avoiding mistakes: The cost of buying wrong far exceeds buyers agent fees
For detailed analysis of whether a buyers agent suits your situation, see is a buyers agent worth it.
How Are Buyers Agents Paid?
Buyers agents are paid by the buyer, not the seller. Common fee structures include:
- Fixed fee: A set amount regardless of purchase price
- Percentage: A percentage of the final purchase price
- Tiered/hybrid: Combinations including retainers and success fees
This payment structure ensures the buyers agent's interests align with yours. They succeed when you purchase the right property at the right price.
For more on costs, see buyers agent fees.
Licensing and Regulation
Buyers agents must hold a real estate licence in the state where they operate. In Australia, real estate licensing is regulated at the state level:
- NSW: Licensed through NSW Fair Trading
- Victoria: Licensed through Consumer Affairs Victoria
- Queensland: Licensed through Office of Fair Trading
- WA: Licensed through DMIRS
- SA: Licensed through Consumer and Business Services
- ACT: Licensed through Access Canberra
Always verify that any buyers agent you're considering holds a current licence. You can check with your state's regulatory body.
Important: A licence from one state doesn't automatically allow an agent to operate in another state. If you're buying interstate, you need an agent licensed in that state.
Terminology: Buyers Agent vs Realtor vs Broker
Property terminology differs between countries. Here's how terms compare:
| Term | Usage |
|---|---|
| Buyers Agent | Australian term for agent representing buyers |
| Buyers Advocate | Same as buyers agent, commonly used in Victoria |
| Real Estate Agent | Australian term, usually refers to selling agents |
| Realtor | US term (trademarked), not commonly used in Australia |
| Broker | US term; in Australia, usually refers to mortgage brokers |
For more on terminology differences, see broker and realtor and real estate agent vs realtor.
How to Find a Buyers Agent
When looking for a buyers agent:
- Verify licensing: Check they hold a current licence in your state
- Check experience: Ask about transactions in your target area and property type
- Understand fees: Get clear information on costs and what's included
- Confirm independence: Ensure they don't receive payments from sellers or developers
- Ask for references: Speak with past clients about their experience
- Assess communication: You'll work closely together, so style matters
Industry bodies like REBAA (Real Estate Buyers Agents Association of Australia) maintain directories of member agents.
Frequently Asked Questions
Is a buyers agent the same as a buyers advocate?
Yes. "Buyers advocate" is simply another term for the same profession. The term is particularly common in Victoria, while "buyers agent" is more common in NSW. Both refer to licensed professionals who represent property buyers.
Do I need a buyers agent to buy property?
No. Many people buy property without a buyers agent. However, a buyers agent can provide advantages including off-market access, professional negotiation, and time savings. Whether you need one depends on your situation, experience, and available time.
How much does a buyers agent cost?
Fees vary based on service level, property type, and location. Common structures include fixed fees and percentage-based fees. See buyers agent fees for more information.
Can a real estate agent be both a selling agent and buyers agent?
Some agents may offer both services, but not on the same transaction. A buyers agent must represent you exclusively and cannot also represent the seller. Dedicated buyers agents focus solely on buyer representation.
Do buyers agents only work in certain areas?
Most buyers agents focus on specific geographic areas where they have expertise and agent relationships. For example, Iconic Assets is licensed in NSW and serves Sydney and NSW. For other states, you'd need a locally licensed agent.
What's the difference between a buyers agent and a mortgage broker?
A buyers agent helps you find and purchase property. A mortgage broker helps you find and secure financing. They're different services, and you might use both. Mortgage brokers are paid by lenders, while buyers agents are paid by you.
Related Pages
Looking for a Buyers Agent in Sydney?
Iconic Assets is a licensed NSW buyers agent serving Sydney and New South Wales. We handle property search, evaluation, and negotiation so you can purchase with confidence. Contact us for a no-obligation discussion about how we can help.
Get in TouchDisclaimer: This page provides general information only. It is not financial, legal, or investment advice. Property values can rise and fall. Licensing requirements and terminology may vary by state. Always verify agent credentials and seek independent professional advice for your specific situation.