Buyers Agent

Your buyers agent must be an independent licensed real estate agent working exclusively for you on a full time basis, providing you with market knowledge, negotiating skills and savings both financial as well as valuable time, at all times helping you avoid stress, frustration and indecision.

The characteristics of your buyers agent (advocate) include but are not limited to the following:

  • To act exclusively as a buyers agent in all real estate transactions;
  • To be completely independent from vendors and selling real estate agents;
  • To only receive income from buyers;
  • To not list or sell real estate;
  • To not act on behalf of, or receive income from any other party in a real estate transaction;
  • To not represent a principal where a conflict of interest exists or is likely to arise;
  • To hold a current buyers agent licence under the Property, Stock and Business Agents Act 2002 No 66 and any associated regulation;
  • To have a thorough knowledge and understanding of and always act in accordance with all legislation relevant to buyer’s agency practice;
  • To be able to execute a legislatively compliant written buyer’s agency agreement specifying the services to be provided and containing all applicable fees and disbursements, while clearly outlining both the agent’s and principal’s obligations under the agreement;
  • To hold a current professional indemnity insurance policy.

The NSW Government introduced a new regulation effective 1st January 2013 whereby it is mandatory for a buyers agent to hold a current professional indemnity insurance. For full details, visit Property, Stock and Business Agents Amendment (Professional Indemnity Insurance) Regulation 2012.

The main requirements are:

  • All licensees are required to hold current professional indemnity insurance appropriate for the industry to a minimum of $2,000,000 in the aggregate.
  • Insurance is only required if the licensee engages in the activities for which the licence is required under the Property, Stock and Business Agents Act 2002.
  • The policy must cover certain insurable events such as negligence, misleading or deceptive conduct, breach of professional duty, interference with intellectual property rights, and fraud or dishonesty by an employee.

Refer NSW Fair Trading Office for an overview of a buyers agent in accordance with the current ACT.

Who is Property Search 4U?

We are a licensed real estate company and yet, we do not sell nor manage properties.

Why use Property Search 4U?

Because as a buyer’s agent of residential and commercial real estate, we act exclusively for and with fiduciary obligation to buyers and lessees.

The buyer’s agency service is a relatively new concept in the Australian real estate market. Most real estate agents are seller’s agents, working exclusively for the seller. Yet would-be property buyers when dealing directly with the selling agent misunderstand the relationship and often regard them as their own agent consequently disclosing sensitive information to them and not realising this information is passed on to the seller and rightly so since the selling agent’s obligation and responsibility is towards the seller, who is paying their fees.

What potential value will I gain from using Property Search 4U?

  1. You will be accompanied by your own agent who is not there to sell you a property.
  2. You will have peace of mind in the course of making a very important decision.
  3. You will avoid indecision that sometimes might disadvantage you due to the market price creep.
  4. You will save time – valuable time that can be put to better use, including your weekends.
  5. You will make money when you buy the property (not when you sell it in the future).

Who pays what fees and to whom?

The seller/lessor pays their agent a commission. You pay Property Search 4U a fixed success fee.

Who should use a buyer’s agent service?

The buyers who:

  1. Recognise they do not have up-to-date market knowledge and require the services of a professional negotiator;
  2. Are time poor;
  3. Appreciate they cannot be totally detached or unemotional about a property;
  4. Have tried the “D.I.Y.” process and have been unsuccessful thus far;
  5. Have tried the “D.I.Y.” process at some costs but to no avail.

How long have you been a buyers’ agent?

We commenced our corporate buying agency in 1999 and in 2005 established Property Search 4U specifically for the real estate market.  We have been recognised by the Australian Achiever Awards – real estate category since 2007. We are active members of the Real Estate Institute of NSW (REINSW) and Real Estate Buyers Agents Association of Australia (REBAA).