How are Buyers Advocates different from Sales Agents?

As much as we love our job and have been going our jobs well, there will always be times when we are stumbled by client's questions. This is one instance.

At a Melbourne networking event for Singaporean and Malaysians business owners, our boss was asked:

How are Buyers Agents different from Sales Agents?

Intoxicated with the fragrance of good food, he wasn't prepared. How can he attend networking events unprepared??? Now, readers, don't tell our boss. I'll be fired if he saw this...

So, here I am, helping him compile this comparison table.

Difference between a buyers advocate and sales agent

The differences between a buyers advocate and a sales agent is subtle but stark. One of the effective sales tactic is to make buyers believe the sales agents are working for them, and the house they are selling is what they want, even though they know it's not.

We've compiled this table which explains these differences.

	Buyers Advocates	Sales Agents and Fake Buyers Agents
What do you buy?	You buy what is the most suitable for you.	You buy what they must sell.
Who pays them? Who do they represent?	Buyers Advocate solely for the buyer's interests, offering unbiased advice and guidance throughout the purchasing process.	Sellers Represent the seller's interests, aiming to secure the best possible outcome for the seller in terms of price and terms.
What are their expertise?	Possess extensive knowledge of local markets, property trends, and negotiation skills and strategies to help buyers make informed decisions and get the most out of their purchase.	Have in-depth knowledge of the properties they represent, including features, amenities, and market value, to effectively market and sell properties.
Who do they work for?	Buyers Serve as independent advisors to the buyer, prioritizing their needs and objectives above all else.	Sellers Act in the best interests of the seller, striving to achieve the seller's goals and maximize the sale price of the property.
Are they licenced and insured?	Genuine Buyers Advocates are police checked, fully licenced and insured.	Real Estate Sales Agents are licenced. But most who sells you off-the-plan properties are just sales people, selling you a standard, templated financial solution. Without licencing, they are not police check and not insured.
Who do they Negotiation for?	Buyers. Negotiate on behalf of the buyer to secure favorable terms, including purchase price, inspection contingencies, and closing timelines.	Sellers. Negotiate with potential buyers to achieve the highest possible sale price for the seller, while also ensuring a smooth transaction process.
What properties will they present?	You buy what you want to buy. They custom search for the best available property for you and your needs.	You buy what they want to sell you. They present whatever their business is selling or what their franchise network is selling, and fits you into their property.
How do they inspect the property?	Independent inspection. Identifies the good points and identify the problems with the property.	Biased inspection. Shows you only the good points and hides the problems with the property.
How do they valuate the property?	Independent Appraisal and Valuation. Gives you an unbiased independent valuation based on their local knowledge and property expertise.	Provides a Statement of Information, which reflects what their sellers wants to sell for. Or they provide a fake low valuation, to attract buyers in order to create a bidding war.
What is your buying experience?	Customer-focused BA gives buyers sufficient time to consider their recommendations.	Feels very pushed and pressurised to buy something from them.

So, now you know.

While both buyer's advocates and sales agents play important roles in real estate transactions, they operate with different objectives and loyalties. Buyer's advocates represent the interests of buyers exclusively, providing impartial guidance and advocacy throughout the buying process, while sales agents work on behalf of sellers to market and sell their properties effectively.

Understanding these distinctions can help buyers and sellers navigate the real estate market with confidence and clarity.

Where can you find independent Buyers Advocates?

If you need to buy fast, and buy a property that suits you, get in touch. Have a chat to discuss how we can help you achieve your property ownership dreams without having to run around aimlessly.