How Buyer's Agents Can Tilt the Odds in Your Favour

There are a lot frustrated buyers out there, overwhelmed by selling agents’ tactics and sick of underquoting. Buyer’s agents exist to help these people.

Finding and then buying the right property is hard enough, especially when there isn’t an abundance of options on the market. That’s why it’s worth looking at finding an edge and engaging the exclusive services of an expert fully committed to getting you the right property at the best price. Buyer’s agents, or advocates, are real estate specialists. They are experts in property values and know the hottest markets and the best properties for sale, even those not seen on popular property websites or apps. What separates them from real estate agents, though, is they work one-on-one with buyers to find the best deal on a home or investment that suits their precise purposes. Shiju Thomas, senior marketing manager at Sydney-based buyer’s agency Cohen Handler, says property seekers choose advocates for many reasons. They may have struggled for a long time to find the right property themselves or found it difficult to find enough hours in their busy schedules to do the appropriate amount of research. Also, Thomas says, prospective buyers might dislike dealing with real estate agents, or find themselves frustrated by researching underquoted properties and getting outbid at auctions. How much can I borrow?Use UNO's calculator to estimate your borrowing capacity. Calculate Now“Buyer’s agents find the right strategy,” Thomas says. “We often get a deal done before auction. Let’s say there’s this great property, with 10 buyers all waiting for the auction in four weeks. We might get our client to see the property before everyone else, put in an offer and get it accepted within 24 hours. The property no longer goes to auction.” Buyer’s agents take the emotion out of a property deal. “People end up paying way more than the property is worth,” Thomas says. “We have auction-only services, where buyers hire us just to represent them in an auction. We make sure they don’t get carried away.”

“Sometimes you have clients who want a particular type of house on a particular street.” Michael Pickham, a real estate buyers agent with Propertunity, says there are a lot frustrated buyers out there who are overwhelmed with the tactics used by selling agents and sick of underquoting. Buyers agents exist to help these people, he says. “Our strategy can change daily, as can the market conditions,” says Pickham. “Evolving with the market is essential to applying suitable strategy. Being on the front line every single day ensures that we are up to speed with the market in real time and gives us the advantage over buyers and sellers who only get to it once a week or fortnight.” He once helped a Sydney couple with a small child upsize from a squishy 2-bed unit, to a bigger home. “These people worked long hours and spent every weekend for months trying to secure a home for their family. Not one real estate agent helped them secure anything,” he says. “They were left feeling defeated and were physically and emotionally exhausted from being gazumped, being the under bidder at auction and being under quoted to by the local agents. “I quickly aligned with their search and made some recommendations on better suburbs (although a bit more expensive) for their needs. It only took four weeks to find them a better house in a better area for a better price than they were trying to find on their own. These people still email me every few months to thank me for helping their family. This is the reason I love what I do.”

So, what makes a good buyer’s agent?

Aside from passion for the job, Thomas says it’s important to find an agency with good client testimonials and one that specialises in advocacy. Agencies that act on behalf of buyers and sellers – especially developers – may have a conflict of interest. “The other mark of a good buyer’s agent is they have a good network,” Thomas says. “That’s what gives them access to off-market properties. Usually, if it’s a one-man, two-man band, they don’t have access to the kind of properties that a 40-member or even 20-member team has.” Before they engage the exclusive services of a buyer’s agent, prospective clients need a clear idea of what they want. Whether it’s buying a family home or investment property, an advocate needs to know where their client wants to buy, how many bedrooms they need and the price they’re prepared to pay. (It’s also important for buyers to know how much they can borrow, using UNO as a guide.) In short, if you’re looking to use a buyer’s agent, you need a good working knowledge of the market you’re looking to buy in. After all, it’s your money. “A lot of times,” Thomas says, “we tell potential clients that they should try to buy a place on their own first, and then come to us [if they aren’t successful].” By law, buyer’s agents must only act in their client’s best interests. They can’t allow external factors to override their duty of care. How much a buyer pays for this service depends on the complexity of the brief. “Sometimes you have clients who want a particular type of house on a particular street,” Thomas says. A typical buyer’s agent fee to offer advice to a client until a property deal is closed is 1.8-2.3 per cent of the purchase price, and this may include a monthly retainer. Alternatively, a buyer’s agent might be simply enlisted to bid on a client’s behalf at auction for $800-$5000, depending on the situation and sale price. Book a call in with UNO

Book Call Now

UNO home loans

Need help with your home loan?

UNO Brokers are available night and day for a quick review or your situation and bring expertise that will support better decision making that will save you time and money. Book in a quick call when it suits your busy schedule

Get Started
Try Plans, by UNO
Mortgage calculators completely reimagined
Get Started

Related Articles

TESTIMONIALS

What our customers are saying

Kyle Richards
October 10, 2024
Absolute legend, helped me through the first home buyers scheme, explained everything in a way that made sense, was very knowledgeable and a joy to work with.
Read more
Chloe S
October 8, 2024
Mike Parsons made it possible for us and the in laws to get 2 pretty complicated home loans. He helped us through everything and we'd be happy to use Mike and the team again for anything we needed. Thanks again!
Read more
Sam Rezai
October 2, 2024
I have gone through 6 different mortgage brokers prior to meeting Andrew Wyers. He is the most patient mortgage broker I’ve encountered and also the most knowledgable about the bank’s lending process and products available. It took me 1 year to find a house I was happy with and Andrew was always there to assist with any issues or questions I had; he always return my phone call, even on the weekends or when his away on holidays. The loan process was smooth and I had no complications. The process with Andrew was again nice and easy, he took the time to find and put together the right package that was suited to my situation. I have recommended Andrew to my family & friends and everyone have been grateful and completely satisfied with his service.
Read more
S Wilko
September 23, 2024
I had not dealt with Scott or UNO before finding them on the internet. Even as an Australian citizen living and working overseas, I knew obtaining a loan would be difficult. However, Scott went above and beyond what I expected from a mortgage broker. I genuinely don’t think you could find another company that works as hard as they did to get my home loan approved. I cannot recommend them highly enough. Everyone I dealt with at UNO were extremely professional and helpful. If you are looking for a broker, you would be mad not to give them a go. Thanks to Scott Wilkinson, Dalby Bajwa, Jena Lasquite and Andrew Pacini. Shaun.
Read more
Shan Liao
September 3, 2024
I had an outstanding experience with Tian Liu. He was incredibly professional and attentive, going above and beyond to meet my needs. His expertise and dedication made the entire process smooth and stress-free. Tian's deep knowledge of the market and commitment to finding the best solutions for his clients truly sets him apart. He was always available to answer my questions and provided invaluable guidance throughout. I highly recommend Tian Liu to anyone in need of a reliable and skilled broker!"
Read more
Nathanael Chin
September 3, 2024
Tian Liu provided exceptional service throughout the entire process. His professionalism and keen attention to detail were evident from the start. Tian consistently kept us informed and offered insightful advice that made us feel confident in our decisions. He truly cares about his clients and works tirelessly to ensure the best possible outcome. We couldn't be happier with his assistance and highly recommend Tian to anyone looking for a trustworthy and knowledgeable broker.
Read more
Patrick Winters
August 14, 2024
For the past three years, it has been an absolute pleasure to work with Mike Parsons. He has consistently helped us navigate commercial property loans with skill and efficiency. Mike’s timely and professional responses to our inquiries have been invaluable. We have built a strong, reliable relationship with him and eagerly anticipate continuing our collaboration in the future. We highly recommend his services.
Read more
Lee Robibaro
August 6, 2024
I am so thankful and grateful to have Scott Wilkinson as my broker. He not only looked after me every step from start to finish he gave me confidence and I was able to trust him and his expertise. My children and I are now happy in our new home and very appreciative of Scott's help. I will definitely be only having Scott as my broker from here onward as there is no mucking around and straightforward answers. Thanks again
Read more
Steve Mav
August 6, 2024
Scott and the whole team at uno have been amazing. Super responsive and helped us achieve a result that we couldn’t have possibly achieved on our own.
Read more
Thien Pham
August 5, 2024
Scott, Dalby and Jena were awesome to work with for my recent Home Loan, they are responsive and knowledgeable - which helped ensure a smooth purchase from pre-approvals to settlement. This is the second property I've purchased with UNO as my mortgage broker and would definitely recommend their services. Thanks again to the UNO Team for the awesome support.
Read more
Scott Hutchinson
August 5, 2024
I am writing this summary in support of recommending Mike Parsons as a Mortgage Broker. At the time of writing this, I have known Mike for 4 years and he has executed 4 mortgages deals for me (including 2 refinances) over that time. Mike has provided me incredible service as a mortgage broker as follows : - Works painstakingly on getting the scenarios together to provide you options that optimize your position. - Works inordinate hours on the detail necessary to support the scenarios. - Mike keeps you updated on the status and progress of the applications and also helps you work through answering questions and any complexities that may arise. -In my cases, given the complexities and timings of my situations , these application processes would take many weeks to finalize . Mike never gave anything other than utter commitment and focus to getting the job done. Mike acts as a true business partner throughout this whole broker /mortgage journey. I simply would only go to Mike for any future dealings on getting a loan from a bank (and as will my kids in the future !) . There is no way a bank (I have seen anyway) would provide this kind of time nor service to a customer. You can rest assured that once Mike has done the deal, you have ended up with the most optimized position taking into account all the variables/scenarios in play. Scott Hutchinson
Read more
Jason Seam
August 5, 2024
I've worked with Scott Wilkinson for my last 2 properties and he's been excellent. He sourced multiple options and didn't push a specific bank, tailoring his recommendations to me based on my requirements. I was specifically requesting a "medico loan" and Scott could navigate that extra requirement with expertise. When I was initially working with Scott, I was also trialling 2 other brokers and neither of those 2 had the same breadth of lenders, or could provide the same deals. I've referred multiple buyers to Scott and his team; one of them said to me after working with him, "how'd you find this guy, he's so good compared to all the other broker's I've worked with!" I'm going into my next purchase with Scott as my broker partner again. I recommend him to everyone
Read more

Try Plans by UNO

Mortgage calculators completely reimagined
Get Started