Buyers Agency
Saving you time and money
So...what does a buyer's agent actually do?
While using a buyer's agent is more well-known on the east coast of Australia and overseas, many people in the west still aren't sure what the benefits are or what the costs may be. As an established and successful buyer's agency in WA, let us break it down for you...
So...what does a buyer's agent actually do?
While using a buyer's agent is more well-known on the east coast of Australia and overseas, many people in the west still aren't sure what the benefits are or what the costs may be. As an established and successful buyer's agency here in WA, let us break it down for you...
When selling your house, you engage a licensed real estate agent to act on your behalf. This agent is known as the
seller's agent, or sales agent. In the same way when buying a property, you can engage a fully licensed real estate agent to act on your behalf as your buyer's agent. And just like a seller's agent is invested in their seller's best interests, a buyer's agent is invested in their buyer's best interests. This means that we're working for YOU, the buyer. And we don't split the commission paid to the selling agent, we are paid independently by you, the buyer, so there is no conflict of interest.
Please note: To operate in Western Australia as a buyer's agent, you must be licensed in WA (or listed on the WA 'Mutual Recognition' register) with the Department of Energy, Mines, Industry Regulation and Safety (DEMIRS), who regulates real estate licensing in WA. You can use DEMIRS online licence search tool here to see if your chosen buyer's agent is licensed in WA. If they're not, then you may not be protected if something goes wrong in your property transaction.
You might engage a buyer's agent if you don't have the time to look for a property yourself or you would like an objective third party to act in your best interests. You might be moving to WA from interstate or overseas or buying a Perth investment property and don't have knowledge of local areas. Using a local reputable buyer's agent can take the stress and worry out of the property buying process for you.
Once you've engaged Drift Real Estate as your buyer's agent, you would pay a Commencement Fee of $1,500 (+GST) which starts our property finding services for you. When we successfully find a property that ticks all your boxes, we negotiate with the seller's agent (or directly with the seller if we have sourced the property off-market ourselves) to get the best price and conditions using current market data from a number of property data sources we use. Once the buyer and seller have both signed off on the Contract for Sale by Offer and Acceptance, we assist you in sourcing qualified building and pest inspections and a settlement agent or conveyancer. Pending finance approvals and satisfactory inspections, the sale then moves onto unconditional acceptance and the Buying Fee is then due and payable, which is agreed upon prior to commencement. The Buying Fee can also be paid through the settlement process by prior written agreement. We then attend the pre-settlement inspection on your behalf to make sure everything is in order before giving the go ahead for settlement to proceed. We even pick up the keys and hand them over to you on settlement day!
When you're competing with so many buyers at home opens and housing stock levels are incredibly low, using a buyer's agent is a sound investment and what you pay in buying fees we can save you in purchase price, time and stress! Check out our Services and Fees page to see what services we provide and what you can expect to pay.