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Buyer’s Agent Fees

Fixed Fees, Regardless of Purchase Price

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.

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.

‘Anyone can go out and buy a property but the challenge is to buy the right property that will reap you maximum financial gain in the long term, create wealth and lifestyle benefits.’
 Mark, Head Buyer’s Agent.

 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.

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