What is a buying agent?
A buying agent (buyer’s agent) is a property professional who represents the interests of the buyer when purchasing a home or real estate. Unlike the selling agent (who works for the seller), the buying agent is entirely on the buyer’s side.
What does a buying agent do?
A buying agent guides you through the entire purchase process:
- Searching — helps find suitable properties, including off-market opportunities
- Viewing — inspects the property with a professional eye for defects, construction quality and maintenance
- Valuation — estimates market value based on comparable transactions
- Negotiating — handles the price negotiation with the seller or their agent
- Contracts — reviews the purchase contract and transfer deed
- Building survey — advises on whether a structural survey is needed
Application
A buying agent is particularly valuable when:
- Buying your first home — if you have no experience with the purchase process
- Competitive housing market — the agent knows the market and can act quickly
- Older properties — where building knowledge is essential to spot hidden defects
- Renovation plans — the agent can assess whether your plans are feasible and likely to receive consent
Costs
A buying agent typically charges:
- Fixed fee — an agreed amount regardless of the purchase price
- Percentage — a share of the purchase price (often 1-2%)
- Hourly rate — payment based on hours worked
Related terms
- Planning permission
- Building code
- Foundation
- Building survey
- Zoning plan
Learn more about building terms in our knowledge base at fredsdiyplans.com.