FAQ's

FAQ's


What is a buyers agent?

A buyers agent (also known as a buyers advocate) is a licensed real estate professional who works exclusively for the buyer.  Services of a buyers agent include searching, evaluating and negotiating the purchase of property on behalf of the buyer.

 

How is a buyers agent different from a selling (or sales) agent?

A selling agent is engaged by the vendor to sell a property at the highest possible price and most favourable terms for the vendor.  A buyers agent does not sell real estate and is engaged by the buyer to purchase a property at the lowest possible price and most favourable terms for the buyer.

 

What are the benefits of using a buyers agent?

Save Time – it can take up to 100 hours to properly research and find the right property to buy.  Why not free up your weekends and outsource this to someone working in your interest?

Save Money – have you ever wasted money on a building and pest inspection report, or feel you paid too much for a property, or been caught in a rising market?  A buyers agent uses their market knowledge and negotiation experience to save you money which often more than pays for their fees.

Save Stress – for every successful purchaser, there are dozens of frustrated and stressed under-bidders.  Why not save yourself this stress and frustration and leave it in the hands of someone who does it for a living?

Access to more properties – a buyers agent often gets earlier access to a wider range of properties (including silent and pre-market listings) which can allow a property to be secured before it’s even seen by the general public.

 

Are selling agents happy to deal with buyers agents?

Yes, absolutely.  Selling agents like dealing with buyers agents because they represent qualified buyers who are serious about purchasing a property and are usually prepared to decide and act quickly.  Buyers agents understand the process, know what’s happening in the market, and are more experienced in evaluating a property and assessing its fair value.  This generally makes them easier to deal with for selling agents, not to mention a repeat source of business.

 

Is there a conflict of interest as you are part of LJ Hooker?

There is no conflict of interest as we work exclusively for the buyer as their agent in representing their best interests in negotiating and securing a property.  We do not sell property or represent any vendors, nor do we receive any financial benefit relating to the purchase of a property (other than the fee paid by our client).

 

What areas do you cover?

Whilst we specialise in the Sydney market and we also have a strong referral network in most capital cities in Australia.

 

What types of properties do you purchase?

We cover residential property for owner occupiers and investors as well as commercial property.

 

How long does the process take?

Once our clients have their finances in order and we start our search, it will typically take between 1-3 months to secure a property.  However, factors such as market conditions and a client’s requirements can influence this timeframe and make the process take a bit longer.

 

Is it expensive to use a buyers agent?

No.  Our fee represents a very small percentage of the purchase price.  We typically save our clients more than our fee through our negotiation strategy in securing the property at a much lower price than our client could have achieved.  When our fee is weighed up against the cost of missing out on properties in a rising market, the costs of paying for building/pest reports, the value of your time looking each weekend, and the risk of overpaying or not correctly evaluating a property, many people see the value and benefit in having a professional do this for them.

 

Can you help me if I live or work interstate or overseas?

Whether you are local, interstate or overseas we are able to help you purchase a property.  With the right authorities in place, we can undertake all aspects of the property search and acquisition on your behalf.  Whilst you will be unable to physically inspect a property, we will inspect, assess and provide our recommendations to you along with any photos, floorplans and virtual tours.  We ensure that you have the information you need to make an informed decision.

 

What happens if I find a property myself after engaging you for a full search?

Once you have engaged our services, we undertake an extensive search on your behalf including local market analysis, physical inspections and contacting many agents to uncover opportunities which have not yet hit the market.  As such, full fees are payable even if you find a property on your own.  If you do happen to identify a property that we haven’t seen, then by letting us know we can use our skills and experience to do a full assessment on the property to determine its market value and raise any potential issues.

 

Are you fully licensed and insured?

LJ Hooker Sydney Buyers Agency holds a corporation licence and our buyers agents all hold full real estate licences.  Our professional indemnity insurance covers up to $6 million in aggregate. 

 

How do I get started?

Call 1300 289 554 or email us at sydneybuyersagency@ljh.com.au to arrange for a free no obligation property consultation where we will discuss your requirements, explain how we can help, and answer any questions you may have.  We look forward to hearing from you.


 
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