What is a buyer’s agent?
Licensed Real Estate Agents work in four main areas:
Property management - representing landlords - helping them secure a tenant and managing the tenancy
Sales - representing property vendors - helping them secure a purchaser for their property
Buyer’s agent - representing property purchasers - helping them find and buy the home that’s right for them
Renter’s Agent - representing renters - helping them find and rent the home that’s right for them
A buyer’s agent is a licensed real estate agent who represents property buyers. They help you clarify your property needs and goals, ensure that everything is in place for a property purchase, ensure that you have all of the property information and due diligence that you need to make sound decisions, help you find homes, assess them and finally, negotiate and purchase — all while ensuring that your best interests are represented and protected.
The market knowledge, guidance and advice provided is clarifying, reassuring and wise: the properties that are eliminated save you from purchasing a “dud” - while the homes that are presented are likely to be great homes that will be an excellent fit for your needs.
Unlike sales agents - who work for the seller with the seller’s best interests in mind - a buyer’s agent works solely for you, the buyer. Their goal is not just to find a property but to ensure it’s the right property, at the right price and on the right terms. A sales agent is not versed in your unique needs, they are not likely to let you know the property’s faults and flaws, and they are not likely to present the price in realistic terms. Instead, they are motivated to do what is necessary to achieve the best possible sale for their vendor - whose best interests they represent.
Put simply - a buyer’s agent is a licensed real estate agent in your corner.
What is included in buyer’s agent fees in Sydney?
Sydney buyer’s agent fees can vary depending on the level of service / service offering, the agent’s qualifications, skills and experience, the scope of the engagement and sometimes - the purchase type and location. Agents are free to charge as they wish - there is no industry standard for either pricing, or pricing models, however, most buyer’s agents’ fees fall into one (or more) of the following categories:
Fixed fee — a fee that is set in advance and is locked into the agency agreement. Sometimes it varies depending on the purchase price / location / property type; other times it is one set amount no matter what. The fixed fee may be paid all upfront; in installments; or as an engagement fee and success fee.
Percentage-based fee — a percentage of the final purchase price, often ranging from 2% - 3% of the final purchase price. This model is considered unfair by some, because the buyer’s agent is here to secure the best (lowest) possible price, whereas a percentage-based fee structure places the fee incentive at odds with the outcome sought.
Tiered packages — some buyer’s agents offer partial services such as auction bidding, search only, negotiation only and coaching for a reduced rate with add-on services if needed.
Combination models - some buyer’s agents charge a combination of a fixed fee and percentage-based model, such as a fixed fee upfront followed by a lower success fee upon purchase (eg 1%)
Regardless of the fee model, most clients can expect to pay an amount upfront and another amount on purchase - but this does vary as mentioned above.
At Melissa Maimann Buyer’s Agent, we believe it’s important for the fee to align with the outcome sought and that is why we use a fixed fee approach. We are also super keen to ensure that the fee is not out of reach and so we provide a fee-for-service model where the full fee is paid in installments.
What services are covered by Sydney buyer’s agent fees?
A comprehensive service usually includes:
1. Property strategy, brief development and becoming purchase-ready
Every buyer’s situation is unique. A good buyers agent will work with you to understand and clarify your goals, budget, preferences and timeline. They will ensure that all that needs to be in place for a purchase, is in place, before setting out. They will prepare a project management plan and timeline for purchase that aligns with your plans and goals.
2. Property search and research
Once your brief is defined, your agent actively sources properties that match your criteria. This includes homes that are both online, off-market and pre-market. It’s true that in many areas of Sydney, off-market searches increase your options, minimise your competition and help to ensure a faster purchase - but we’re also concerned to have you purchase the right home - whether it’s online or off-market. A buyer’s agent’s search goes far beyond the superficial listing information and delves into historic data that often drives better purchasing decisions and uncovers hidden information.
3. Due diligence and inspections
Buyer’s agent fees in Sydney also typically cover the due diligence and expert property review that first informs the purchase decision, and which finally determines a fair market price for that purchase. This includes market analysis, comparable sales, building and pest / strata reports and identifying potential red flags. Key to note is that many properties are eliminated at this stage, saving buyers from costly headaches down the track. At Melissa Maimann Buyer’s Agent, we’re really committed to securing the right property, and that’s why we don’t limit the number of properties we will consider via our Full Service.
4. Appraisal and negotiation
An experienced agent knows how to assess fair market value for a property. Their insight ensures you don’t over-pay and helps you avoid emotional decisions, especially during competitive auctions and heated private treaty negotiations. We can determine truth from bluff, speak agent-to-agent, decode “agent speak” and ground you when emotions are heightened. One of the most valuable parts of a buyer’s agent’s role is their ability to negotiate on your behalf. They manage all of the communications with the selling agent, negotiate price and terms, coordinate with your conveyancer and strive to achieve the most favourable outcomes — not just in terms of cost, but also conditions.
5. Coordination, post-exchange and settlement support
From submitting offers to liaising with your solicitor, mortgage broker and other stakeholders, your buyer’s agent ensures everything stays on track. Following exchange, your buyer’s agent will recommend property managers, assist you with securing a tenant (if they are also a renter’s agent), recommend quantity surveyors, help to ensure that the property is rented out as soon as possible and guide / recommend renovations.
Are buyer’s agent Sydney fees Really worth it?
We’d say - can you really afford not to have a buyer’s agent?
Everything seems expensive when you’re buying. Depending on your situation, there’s ….
Stamp duty
Removalist
Conveyancer
Building and pest / strata reports
And then there’s the cost of the property!!!
So to add a buyer’s agent’s fee onto all of that, it’s no surprise that people ask, “Do I really need a buyer’s agent?”
We say yes. You absolutely do. Perhaps more than the vendor needs a selling agent.
Here’s why.
A property is the most expensive thing you’re likely to buy, and you’re only like to do it a small handful of times in your lifetime.
The property doesn’t just cost the purchase price - if you’re getting a mortgage, over the life of the mortgage, you’re likely to pay double the property purchase price. Ouch. Even bigger ouch when it’s a dud property! Buying is expensive - selling even more so. So let’s buy right, from the start.
Melissa Maimann Buyer’s Agent has been in operation for over 10 years, and testament to our process, skill and cautious approach, all of our clients still own the properties they purchased via our service.
Why does this matter?
The cost of a poor property decision can sometimes far exceed a buyer’s agent’s fees in Sydney. Whether it’s buying a property with structural issues, mould, a poor layout, overpaying due to auction / emotional pressure or missing key information - there’s no doubt that the property market can be financially and emotionally costly.
Most people save more than the cost of a Sydney buyer’s agent - it’s true!
A buyer’s agent help reduce your risks by bringing objective insight, market knowledge and a network of trusted professionals.
Who benefits from using a buyer’s agent in Sydney?
In short, everyone, and at Melissa Maimann Buyer’s Agent, we offer a range of services to suit all budgets.
Buyer’s agents can be especially valuable to:
First-home buyers — who need guidance and confidence
Families - who may be time-poor and struggle to get to inspections.
People who are unwell or with chronic conditions - that may make it hard to get to inspections and engage in the market on a consistent basis
People who haven’t purchased in the past two years - the market changes and so do the sales tactics!
Investors — looking for high-growth areas, strong yields or portfolio diversification
Upsizers and downsizers — who often have a specific lifestyle or location in mind.
Busy professionals or expats — who may not have time to attend inspections or understand local nuances.
How to Find the right buyer’s agent for you
At Melissa Maimann Buyer’s Agent, we’re committed to a few things:
Ensuring that our fees are affordable for all - we think a buyer’s agent is so essential that our goal is to make our services affordable to all.
Bringing balance back to the property industry - we believe every buyer needs an agent in their corner. We offer expert project management for your property purchase, sound advice that is impartial and in your best interests, and we guide you through the process within a non-exhausting timeline.
To learn more, contact us today.