Are Buyers Agents Worth it in Melbourne? A Guide for Potential Buyers

are buyers agents worth it in melbourne
Written by Aife Raveche 
on 24 May, 2024

Understanding Buyers Agents in Melbourne

If you’re considering engaging a buyer’s agent, you might want to know are buyers agents worth it in Melbourne? Whether you’re searching for a house, investment property or commercial property, a buyer’s agent can help. A buyer’s agent is your dedicated advocate, committed to getting you the best property for the best price.

Having an experienced buyer’s agent in your corner can mean saving money on your home or investment property. But ensure you understand the cost involved and the experience of the buyer’s agent before committing.

As your trusted buyer’s agent in Melbourne, Raveche Property works with your best interests at the forefront throughout the process. We are licensed professionals and work independently on your behalf. We offer a tailored and personalised approach to buying your next property. We partner with you to ensure you are in the best possible position to secure your next home or investment property.

Our article examines the fee structure, cost and benefit of obtaining a buyer’s agent. We aim to share our keen insight and give you a clear understanding of what to expect when engaging a buyer’s advocate and ensuring you choose the right one for you.

are buyers agents worth it?

Key Benefits of Hiring a Buyers Agent

What is a buyer’s agent? A buyer’s agent is a licensed professional who acts as your trusted sidekick and go-to expert during the property buying process. Raveche Property works with clients to understand their brief and desired property results.

We use one-on-one consultations to develop a personalised strategy that suits the needs of our buyers. If you want to know more about the role of a buyer’s agent, see how to become a buyer’s agent. Let us now examine the benefits a buyer’s agent can provide.

Access to Off-Market Properties

An advantage of using a buyer’s agent, especially an experienced one, is their real estate network. Our team at Raveche Property are well-connected to real estate agents and local selling agents which grants us access to off market properties.

We leverage this extensive established network to research listings and search for properties. Our network gives us exclusive access to off-market opportunities that would be otherwise undiscovered. This can be advantageous for potential buyers, who can find the right property without going to auction.

Negotiation and Expertise

Skilled buyers agents can be great at negotiating! A key aspect of their service is being able to negotiate for a lower purchase price. Our team at Raveche Property can confidently negotiate with real estate agents, often achieving a result below the asking price.

Our team are well equipped in private sales, with our extensive network giving us access to these opportunities. A buyers agent’s negotiation service is pivotal in getting your property for the best possible price. We can also help you determine if your investment will foster good capital growth which is particularly important for investment properties.

A good buyer’s agent can also help you save money by avoiding potential future expenses from purchasing a property in poor condition. We do our due diligence to make sure your potential property is the best investment in your future. We are with you throughout the process and can advise at every milestone.

Time and Convenience

Buyer’s agents not only help save money but also time. Conducting research, attending inspections and arranging property inspection reports is extremely time consuming. Many of us are time poor and having an expert carry these tasks out for you is a key advantage. Your agent manages every detail for a stress-free and successful experience.

They can attend inspections and auctions — even bid on your behalf. For most of us, buying property will be our most important purchase. With this in mind, it is essential to make informed decisions to get the best result. When you work with Raveche as your buyer’s agent, you will see how our expertise and insider knowledge make a buyer’s agent worth the fee.

Want to know more? Check out our buyer’s agent guide for everything you need to know about working with a buyer’s agent.

Potential Drawbacks of Buyers Agents

Before you start researching buyer’s agents, ensure you are aware of the potential drawbacks of buyer’s agents. Buyer’s agents can differ in service, expertise, and communication style — not all will be right for you.

Cost Considerations

Look how much it costs to use a buyer’s agent and consider whether this can be accounted for in your budget. Potential home buyers should know how much buyers agents charge and the pricing models they use to structure their fees.

Most buyer’s agents charge a fixed fee, a tiered fixed fee (depending on the final price of your purchased property), or a percentage fee. Buyer’s agents can also require an upfront fee once you have engaged them for their services, so budget for this if needed.

Finding the Right Agent

Your buyer’s agent must be the right fit for you and your brief to get true value from the process. Determining this can be difficult as not all buyer’s agents are as experienced, skilled, and knowledgeable as others. You might meet with an agent who is inevitably not for you.

When you are time poor, meetings that go nowhere can cause additional stress in the home-buying process. Our advice is to do your research before meeting, read testimonials from previous buyers and assess if the agent works frequently in the area you are looking to buy in.

How to Determine if a Buyer’s Agent is Right for You

When choosing the right buyer’s agent, experience and expertise are essential. An experienced buyer’s agent can make all the difference. Start by meeting with potential buyers agents to assess their experience, network and communication style to ensure they are right for you. You should consider your budget and if you feel the buyer’s agent is giving you good value for money.

Evaluating Your Real Estate Goals

Consider what you are looking for in a property and what is non-negotiable. Ensure you assess if your buyer’s agent services in the property area you are looking to buy in. These areas might be Melbourne’s commercial property market, investment properties, or just seeing if they are familiar with the local market. Determine the level of service you’re looking for when using a buyer’s agent and what you need their expertise for.

Budget and Investment Size

Budget how much you can dedicate to a buyer’s agent cost. You should ensure you understand how much you pay upfront and any additional fees required from the agent. Look at their fee structure (percentage or fixed fee), and consider what you want to spend. Buyer’s agents can save you tens of thousands of dollars when they do their job well.

As part of their negotiation service, they can secure you a better deal on your property. At auctions, they can bid on your behalf or negotiate with the seller before it even goes to auction to get you the right price. Our advice is to consider the size of your investment and if you feel having an expert in your corner is worth the expense.

image of an investment property

Buyers Agent Services in Melbourne

Buyer’s agents work to make your property purchase happen for the right price. In Melbourne, Raveche Property is servicing various clients, from first-home buyers to seasoned investors.

We start by understanding your needs, considerations and goals when buying property, then develop a strategy to set you up for success. No matter who you choose as your buyer’s agent, you should expect a dedicated and expert service.

What to Expect From a Melbourne Buyers Agent

A buyer’s advocate represents you throughout the entire buying process. Their insider knowledge, network of real estate agents and negotiation skills are the edge you need when finding a suitable property.

We work tirelessly with a skilled and tailored approach to deliver your brief every time. We can identify when you are receiving the best purchase price, and steer you away from any potential ‘lemons’ or problem properties.

Case Studies and Success Stories

Want to see how Raveche Property has helped buyers achieve their property dreams? See our testimonials from previous clients below.

As a first home buyer, having a buyer’s agent on my side was a non-negotiable. I shopped around before finding Aife and found that a lot of BAs in the market put my buyer profile in the “too hard” basket. Aife willingly and confidently accepted my brief and provided exceptional value for her services, which exceeded my expectations.

Within a month of engaging her, we had found my ideal property and purchased it off-market. Aife was attentive and diligent throughout the process. Her ability to act promptly meant I was never at risk of missing out on an opportunity.

I can’t recommend Aife and her expansive industry contacts, from conveyancer to building & pest inspector, highly enough. Together they are truly the A team, making my first home-buying journey as seamless and stress-free as possible!

What an amazing experience with Aife and Raveche Property. We were in good hands right from the start and the process was so stress-free and through Aife we got an amazing house. Cannot recommend Raveche highly enough.

image of a successful buyers agent in melbourne

Ready to find your ideal property? Contact Raveche Property for a free consultation.

Making the Decision

Whether or not you engage a buyer’s agent is ultimately a personal choice for every potential buyer. Consider their experience, network and working style to ensure you get true value when engaging your agent.

When you work with Raveche Property, we value your needs, considerations and goals when buying property, then develop a strategy to set you up for success. In a diverse and competitive market, Raveche is here to support you throughout the entire buying process.

Our comprehensive service caters to your personal property needs and showcases the value of a buyer’s agent.

Want to kick start your property journey? Trust Raveche to be your dedicated advocate for making your property dreams a reality. Get in touch for a free consultation and see there are buyer’s agents are worth it in Melbourne.

About the Author

Director & Officer in Effective Control – Vendor and Buyer Advocate Meet Aífe Raveche, your local Buyer and Vendor Advocate and the Director of Raveche Property. With more than a decade of experience in the real estate game, Aífe’s got the inside scoop on everything from property law to managing, selling, and even auctioneering property in both Queensland and Victoria. She’s not just about suits and contracts, Aífe is also the voice behind “The Property Files” podcast, where she sits down with other allied industry professionals and dishes out real estate wisdom with a side of humour and relatability. Aífe’s main mantra in business and in life is that everyone should have access to good and reliable information when it comes to property - she assists those around her to navigate through the often deliberately confusing landscape that is negotiation, asset selection and real estate.
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