The buyers agent industry in Australia is largely unregulated beyond the requirement to hold a real estate licence. That means the quality varies enormously — from genuinely expert operators who save clients tens of thousands of dollars, to part-timers who add little value beyond what you could do yourself.
Here are the eight questions I’d ask before signing with anyone.
1. Are You a Licensed Real Estate Agent?
In Australia, buyers agents must hold a current real estate agent’s licence or buyer’s agent licence in the state where they operate. Ask to see their licence number and verify it on the relevant state regulator’s website (NSW Fair Trading, Consumer Affairs Victoria, QBCC etc). Anyone who can’t produce this immediately is a red flag.
2. Do You Receive Any Commissions or Referral Fees?
A true buyers agent should be paid by you only. If they’re receiving referral fees from developers, mortgage brokers, or conveyancers they recommend — that’s a conflict of interest you need to know about. Ask directly and get the answer in writing.
3. What Markets Do You Specialise In?
A buyers agent who claims to operate across every capital city and regional area simultaneously is almost certainly spreading themselves too thin. The best buyers agents have deep, current knowledge of specific markets — usually one or two cities, sometimes specific suburbs. Ask for evidence: recent purchases, comparable sales, relationships with local agents.
4. How Many Clients Are You Working With Right Now?
A buyers agent juggling 30 active clients can’t give each one meaningful attention. Ask about their current client load and how many properties they successfully purchase per month. Good buyers agents are often booked out — which is actually a positive signal.
5. Can You Provide References From Recent Clients?
Not testimonials on their website — actual references you can call. Any professional buyers agent with a track record should be able to provide two or three recent clients willing to speak with you. If they can’t or won’t, walk away.
6. What Is Your Access to Off-Market Properties?
One of the key value propositions of a buyers agent is access to off-market and pre-market listings — properties sold before they hit Domain or REA. Ask specifically: how many of your recent purchases were off-market? What agents do you have relationships with in the areas I’m targeting?
7. What Does Your Fee Structure Include — and Exclude?
Get complete clarity on what the fee covers. Does it include auction bidding? How many properties will they inspect on your behalf? What happens if you don’t purchase within 6 months? Is there a retainer, and is it refundable? Read the engagement agreement carefully before signing.
8. What Is Your Strategy for My Investment Goals?
A good buyers agent asks about your goals before they start talking about properties. Are you looking for capital growth, yield, or both? What’s your time horizon? What’s your borrowing capacity? If they launch straight into “here are three great suburbs” without understanding your financial position first, that’s a red flag.
Ready to Go Deeper?
Once you’ve chosen a buyers agent, the next step is making sure your finance is in order. Read my guide on how to finance your first investment property in Australia so you’re ready to move quickly when the right property comes up.
And if you’re still weighing up whether you need a buyers agent at all, start with what a buyers agent actually does.
Sources: NSW Fair Trading | Consumer Affairs Victoria | REA Insights