In this guide 5 sections
A buyers agent is a licensed estate agent who works for the buyer, while a real estate agent works for the seller. Whether one is worth it depends on how well you know the area, how much time you have and how you are buying.
What does a buyers agent do?
Consumer Affairs Victoria describes a buyers agent as a licensed estate agent who, for a fee, acts for a buyer instead of a seller. A buyers agent can research areas, find and shortlist properties, look at properties that are not advertised, check each one, and negotiate or bid at auction for you.
Buyers agent vs real estate agent: what is the difference?
| Buyers agent | Selling (real estate) agent | |
|---|---|---|
| Works for | The buyer | The seller (vendor) |
| Paid by | The buyer | The seller |
| Goal | Buy the right property at the right price for you | Sell for the best price and terms for the seller |
| Licence in Victoria | Licensed estate agent | Licensed estate agent |
| Can act for both sides? | Not on the same property | Not on the same property |
The real estate agent you meet at an open home works for the seller. A buyers agent works only for you. In Victoria an agent cannot act for both the buyer and the seller on the same property.
Is a buyers agent worth it?
It can be, depending on what you need. A buyers agent tends to add the most value when:
- you are buying interstate or in an area you do not know
- you have limited time to research, inspect and negotiate
- you want access to off-market and pre-market properties
- you are buying at auction and want someone to bid for you
- you want the numbers checked before you commit
You may not need one if you know the area well, have time to research and negotiate, and are comfortable assessing value and risk yourself. A one-off pre-purchase review can be a middle path.
How to choose a buyers agent
- Check the licence on the public register. How to check a licence →
- Ask who pays them, and whether anyone other than you does.
- Ask what the service covers, in writing, before you sign.
- Ask to see real results and read their Google reviews.
- Ask who will do the work day to day.
What Citadel Agency does
Citadel Agency is a licensed buyers agency (licence 092247L) for property investors across Australia, with $165M+ in deals transacted and a 5.0 rating from 148 Google reviews. You can see every published purchase on our results page.
General information only. It does not take your objectives, financial situation or needs into account and is not financial, tax, credit or legal advice. Citadel Agency is a licensed buyers agency (licence 092247L) and does not hold an Australian Financial Services Licence.