How Much Do Buyer’s Agent Fees Cost

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.

 

Wise Real Estate Advice offers a fixed rate commission so there is no incentives for the buyers agent to spend more. For example, if you spend $450K or $1M, our commission is the same.


Our fixed rate covers our clients until a property is purchased regardless of how many auctions or private negotiations it takes. The responsibility is on our buyers agents to provide a high quality service that is paid on performance. Our clients say ‘we make buying easy.’

So what does the service of a Buyer’s Agent actually cost?

Across the Buyers Agent market, the fees vary depending on the level of service you choose, the scope of job you require and their expertise. Below is a typical reflection what everyone else charges: 

  • Bidding  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.
  • The 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.
  • Negotiation service only buyer agent services, where they are required to negotiate a property price before, fees are typically vary from .5% to 1% + GST of the total purchase price.

 

 

We charge a flat fee of $6999. Inc GST, fixed rate until a property is purchased (Fully serviced buyers agent).

 

 

How Much Do You Pay Upfront To Hire A Buyer Agent? 

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.

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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  • Wise Real Estate Advice

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    Hari Krishnan
    Hari Krishnan

    5 out of 5 stars

    posted 1 month 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.

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    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.

Summary
How much do Buyers Agents Fees Cost in Melbourne?
Service Type
How much do Buyers Agents Fees Cost in Melbourne?
Provider Name
Wise Real Estate Advice,
Leve 2 Riverside Quay, 1 Southbank Boulvard,Southbank ,Victoria-3006,
Telephone No.1300 009 473
Area
Melbourne.
Description
So what does the service of a Buyer’s Agent actually cost? Wise Real Estate Advice looks at what buyers advocates charge across Melbourne.