Buyer's Agents Fees
How much does it cost to engage a buyer's agent? What do you get for your fees?
Thinking of engaging a buyer's agent to help with your property purchase? Here's our insight into the cost of engaging a buyer's agent in the Melbourne real estate market.
What goes into the buyer's agent's fees?
In order to provide a buyer's advocacy service, a typical buyer's agent needs at least 3 to 5 years of real estate experience in the industry. Obviously the more experienced the buyer agent is, the better he/she will perform and help get the property you want.
To be a licenced buyer's agent, we will need to attain at least a Certificate IV in Real Estate Services, followed by an application to the Victoria Consumer Affairs, for the Real Estate Agent Licence.
Upon attaining the licence, we will need the mandatory Public Liability and Professional Indemnity Insurances, to protect the interest of our clients.
It takes up to $10,000 to get properly licenced. And up to another $10,000 to be properly insured.
What assurance do you have from a licenced and insured agent?
Licencing and insurance protects the interest of consumers like yourself. If nothing goes wrong with the property you buy, you need not worry.
However, if the property purchase went wrong, and you were dealing with an unlicensed or uninsured agent, the situation can be very distressing. The deposit and fees of hundred of thousands that you had paid can disappear in an instant. It has happened before, it is still happening, and this will continue to happen, as long as consumers continue to patronise them.
What about Concierge Buyer's Advocates?
As truly independent buyers advocates, we are licensed real estate buyer agents, paid by you, to guide you and look after you on your property purchase journey. We are always on your side, and we look after your property purchase interest. We treat each property purchase as our own. We work with you to find the right property, at the right price for property buying clients like yourself. We are fully licenced, and fully insured, to protect your property purchase service.
Cost of Running a Buyers Advocacy
To provide a basic buyer agent service, a proper, independent buyer agent must be able to provide the right advice based on facts, data, research and analysis, not marketing and propaganda. At Concierge Buyers Advocates, we subscribe to trusted data sources and reports, and we maintain almost 20 years of property data, in industrial strength databases in secured data centres (not Excel spreadsheets), to help power our analytics. Our agents also visit and inspect the properties we recommend to our clients. All in, our clients are receiving between $15,000-$20,000 or more worth of information, knowledge, experience, expertise and time and material per purchase.
Some buyer's agents also spends on free workshops, free seminars, classy office space in premium locations. These could easily cost them another $20,000 per month. Now, guess who is paying?
So, you must be wondering, why can't property buyers have a simple, low-fee buyer's advocacy service? Yes, there is. Our Concierge Buyers Advocates' property buying service is one of the lowest cost in Melbourne.
Where is the low-cost Buyer Agent Service?
As any good buyer agent should, over 80% of our time is spent on the road. We are inspecting properties, visiting clients, visiting project sites, or negotiating with other agents. We do not need a physical office, so, we cut out the fancy office.
We don't do fancy marketing spins. No marketing seminars, masquerading as property investment master-classes, no property buying podcasts, no property investment workshops, no property buying 101 ebooks, etc.
We put our time and energy into our core focus, to help property buyers and first home buyers like you find the right property at the right price.
What does this mean to our clients? Cutting out these fluff saved our clients over $3000 per engagement.
And we pass that savings to our clients, allowing us to offer one of the most cost-efficient buyers agent service in Melbourne.
Reviews from our Clients
Now you must be thinking, we must be "cheap" for a reason...
So, let us admit it. These are the corners which we've cut:
removed the fluff;
cut the "free" workshops;
cut the "free" seminars;
cut the "free" property books;
cut the office space.
Still not convinced? Let's hear from our satisfied clients. Here are some reviews of our property buying and advocacy service. Read what our clients say about our services:
Our Service Guarantee
Not convinced? Here is our Service Promise to You
You will only receive honest, unbiased feedback, and we will only recommend properties that suit your requirements.
We will not recommend properties simply because they are for sale. We present them to you only because they are the right property for you and they are the ones that we will buy ourselves.
Get in touch with us. Let us explore how we can buy your property in double quick time and with confidence.
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