Why use a buyer’s agent?

There are a lot of frustrated buyers out there, overwhelmed by selling agents’ tactics and sick of underquoting. Buyer’s agents exist to help these people.

How buyer’s agents can tilt the odds in your favour

There are a lot of frustrated buyers out there, overwhelmed by selling agents’ tactics and sick of underquoting. Buyer’s agents exist to help these people. Finding and then buying the right property is hard enough, especially when there isn’t an abundance of options on the market. That’s why it’s worth looking at finding an edge and engaging the exclusive services of an expert fully committed to getting you the right property at the best price. Buyer’s agents, or advocates, are real estate specialists. They are experts in property values and know the hottest markets and the best properties for sale, even those not seen on popular property websites or apps. What separates them from real estate agents, though, is they work one-on-one with buyers to find the best deal on a home or investment that suits their precise purposes. Shiju Thomas, senior marketing manager at Sydney-based buyer’s agency Cohen Handler, says property seekers choose advocates for many reasons. They may have struggled for a long time to find the right property themselves or found it difficult to find enough hours in their busy schedules to do the appropriate amount of research. Also, Thomas says, prospective buyers might dislike dealing with real estate agents, or find themselves frustrated by researching underquoted properties and getting outbid at auctions. “Buyer’s agents find the right strategy,” Thomas says. “We often get a deal done before auction. Let’s say there’s this great property, with 10 buyers all waiting for the auction in four weeks. We might get our client to see the property before everyone else, put in an offer and get it accepted within 24 hours. The property no longer goes to auction.” Buyer’s agents take the emotion out of a property deal. “People end up paying way more than the property is worth,” Thomas says. “We have auction-only services, where buyers hire us just to represent them in an auction. We make sure they don’t get carried away.” Michael Pickham, a real estate buyers agent with Propertunity, says there are a lot frustrated buyers out there who are overwhelmed with the tactics used by selling agents and sick of underquoting. Buyers agents exist to help these people, he says. “Our strategy can change daily, as can the market conditions,” says Pickham. “Evolving with the market is essential to applying suitable strategy. Being on the front line every single day ensures that we are up to speed with the market in real time and gives us the advantage over buyers and sellers who only get to it once a week or fortnight.” He once helped a Sydney couple with a small child upsize from a squishy 2-bed unit, to a bigger home. “These people worked long hours and spent every weekend for months trying to secure a home for their family. Not one real estate agent helped them secure anything,” he says. “They were left feeling defeated and were physically and emotionally exhausted from being gazumped, being the under bidder at auction and being under quoted to by the local agents. “I quickly aligned with their search and made some recommendations on better suburbs (although a bit more expensive) for their needs. It only took four weeks to find them a better house in a better area for a better price than they were trying to find on their own. These people still email me every few months to thank me for helping their family. This is the reason I love what I do.”

So, what makes a good buyer’s agent?

Aside from a passion for the job, Thomas says it’s important to find an agency with good client testimonials and one that specialises in advocacy. Agencies that act on behalf of buyers and sellers – especially developers – may have a conflict of interest. “The other mark of a good buyer’s agent is they have a good network,” Thomas says. “That’s what gives them access to off-market properties. Usually, if it’s a one-man, two-man band, they don’t have access to the kind of properties that a 40-member or even 20-member team has.” Before they engage the exclusive services of a buyer’s agent, prospective clients need a clear idea of what they want. Whether it’s buying a family home or investment property, an advocate needs to know where their client wants to buy, how many bedrooms they need and the price they’re prepared to pay. (It’s also important for buyers to know how much they can borrow, using UNO home loans as a guide.) In short, if you’re looking to use a buyer’s agent, you need a good working knowledge of the market you’re looking to buy in. After all, it’s your money. “A lot of times,” Thomas says, “we tell potential clients that they should try to buy a place on their own first, and then come to us [if they aren’t successful].” By law, buyer’s agents must only act in their client’s best interests. They can’t allow external factors to override their duty of care. How much a buyer pays for this service depends on the complexity of the brief. “Sometimes you have clients who want a particular type of house on a particular street,” Thomas says. A typical buyer’s agent fee to offer advice to a client until a property deal is closed is 1.8-2.3 percent of the purchase price, and this may include a monthly retainer. Alternatively, a buyer’s agent might be simply enlisted to bid on a client’s behalf at auction for $800-$5000, depending on the situation and sale price. Book in a quick call with our customer care team.Book a call in with UNO

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February 19, 2024
We chose Uno Home Loans from their impressive web site knowing we were going to find it hard, on many fronts, to qualify for a home loan. We were incredibly fortunate to be assigned Mike Parsons as right from the get-go, despite the complexities, he hit the ground running for us. He was incredibly knowledgeable, with years of experience but what was immediately apparent and impressive was that he was totally invested in getting us over the line, doing absolutely everything possible, including working around the clock. Despite it being a relatively small loan in the order of things, Mike never missed a beat, getting docs ready, following up and answering every request from the proposed funder immediately. He kept us informed on progress the minute anything happened, and again if anything needed to be done, he was right on it. In short, we highly recommend Uno, and Mike, knowing what a remarkable job he did, over many weeks, to get us our loan. He got us a great deal, with far better rates than we expected, so we couldn't be happier. In fact, without doubt, you'd be hard pressed to find a more personable, sharp, hard working, dedicated professional who clearly prides himself on getting his customers standout results.
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Our mortgage recently came up for renewal, and with interest rates skyrocketing we were looking for ways to minimise the impact. Michael and his team were proactive and attentive. Michael spent time with us to understand our circumstances. He found mortgage options that worked with our current financial situation and longer investment plans. He presented clear options, providing guidance where needed. He and his team were helpful and responsive - streamlining the process and keeping us updated through the negotiations. In the end, Uno did the heavy lifting and secured a significantly better rate than our current bank offered, all with friendly, personal service. We would highly recommend UNO Home Loans.
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January 15, 2024
I cannot help but congratulate Scott Wilkinson of UNO Home Loans for being an absolute credit to both his company and the entire loans industry. Scott is a truly rare gem of a broker in that he will not only go the extra mile to achieve for each customer the very best deal, but his knowledge of all and sundry within the industry is unsurpassed (you will see what I mean if you speak to him). Additionally, Scott has a clear passion for imparting his wealth of information with each customer, whereas the conversation with most other brokers would simply be over if they could not get you the best deal. For me, Scott Wilkinson of UNO Home Loans stands head and shoulders above the competition and I feel privileged to benefit both from his expertise and professionalism whenever it is time for a refinance or new loan.
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January 11, 2024
Michael Parsons helped me a lot when it's difficult to establish my capabilities in loan.
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January 9, 2024
I highly recommend Mike Parsons as a mortgage broker. I couldn't fault the service provided by UNO. Thanks Mike!
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Thank you Eren Tan for the amazing service and support. Our Loan was a little tricky and complex for other lenders but Eren managed to get it over the line in record time. His professionalism and dedication to our needs was exceptional. If you need a Loan no matter how complex your situation, make sure you contact Eren at UNO Home Loans.
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December 20, 2023
Buying & selling a house at the same time is very stressful but Scott Wilkinson from UNO home loans made sure we knew what was happening & took most of the stress away. He always kept us up to date and if we had a concern or wanted clarification on something we were able to call him, if he didn’t know the answer straight away he will find out and contact us back.. now we are enjoying our new house and turning it into a home :)
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December 18, 2023
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December 11, 2023
To be able to recommend Scott Wilkinson for your mortgage broker was a privilege. We had deals fall through but Scott supported, guided and stuck with us, proper partnership. The whole team at UNO helped us and supported us right through to after settlement. Made sure everything was correct and how we are progressing. Communication was amazing and straightforward and easy to understand. Transparent. We can not Recommend Scott and the team as Uno high enough. Use UNO with confidence.
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December 6, 2023
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