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Buyer’s Agent Fees

Across the Buyers Agent Market, the fees for hiring buyer’s agents vary depending on the level of service you choose, the scope of job you require and their expertise. 

 

Fixed Fees, Regardless of Purchase Price 

Many buyers advocates full service fees work out to typically be 1.5-2% + GST of the purchase price. However, some buyer’s agents will negotiate a set or fixed fee in advance depending on price brackets, degree of difficulty and other search criteria. For ‘negotiation only’ buyer agent services, where they are required to negotiate a property price before, during or after an auction, fees are typically vary from .5% to 1% + GST of the total purchase price or an agreed fixed fee.

If you want to hire a buyer’s agent purely to bid at auction, fees vary from $500+ for each auction they attend, with a potential additional fee payable on a successful purchase.
Remember you’re paying an exclusive buyer’s agent to search specifically for you and to be completely independent and impartial.

Retainer/Initial Fees

Most buyer’s agents will ask for a proportion of their total fee to be paid upon signing the contract. This initial fee can range from $1,000 to 50% of the total fee payable. Often that fee is non-refundable and sometimes a portion is refundable if the purchase does not proceed. Non-refundable fees are paid to compensate buyer’s agents for the amount of time they have spent searching for properties. Also known as chargeable time, this non-refundable portion should be stipulated in the contract prior to signing.

Many buyer’s agents charge fees based on a percentage of the purchase price, Wise Real Estate Advice lock in a fixed price for your search so that there is no incentive for a higher price. For example if you’re looking at spending $750K – $800K we fix the fee regardless of whether the property costs $750 or $800k. Request an obligation free quote from us today.

More questions? Check out Buyers Agents FAQ.

 

 

Property Buyers Guide

Download a FREE Home Buyers Guide, an easy to understand booklet designed to help you through the process of buying.Your copy of the property buyer’s guide can be downloaded here.

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    Hari Krishnan
    Hari Krishnan

    5 out of 5 stars

    posted 1 week ago

    I found Mark through Google!!!.
    Since my first meeting I felt so confident in Mark's ability and experience in being able to deliver a great result. I was very much impressed with Mark's service as he made the whole process easier and stress free!!!!

    I am really happy because I bought exactly what I was looking for and it was well under my top budget. Most importantly We did it within few weeks.

    Since day one Mark was very pro-active.

     Mark emailed multiple properties every week within my search parameters and wish list.
     Mark allowed me to be involved as much as I wished.
     Mark inspected the properties I liked.
     Mark explained the positives and negatives about each property.
     Mark held a pre-auction meeting and attended the auction
     Mark's strategies and suggestions like where he’ll stand during the auction, how he’ll handle the negotiation etc. etc. and through to the final shaking of hands inside the house all played out in a positive way.

    Thank you Mark for all your work in getting me the right house for the right price!

    I highly recommend Mark for everybody who wants to find a good place to live or invest.

    Many, many, many thanks!

    Ken Stewart
    Ken Stewart

    5 out of 5 stars

    posted 4 months ago

    Mark was personally recommended to me as someone who could be of real help in appraising my property of interest and subsequently representing me at auction.
    He made time to meet for an initial chat over coffee. I was immediately impressed and relaxed with his easy and honest nature, as well as his willingness to listen to my needs.
    A genuinely nice bloke... well experienced in the RE scene, totally committed to helping his clients.... all in all, a very worthwhile experience.