Buying a property can be a daunting task, especially if you are time-poor or lack the necessary expertise. This is where the services of a Buyer’s Agent can be invaluable. They can save you time, money, and hassle by sourcing, evaluating, and negotiating the best property on your behalf. However, before you engage the services of a Buyer’s Agent, it’s essential to understand their benefits, costs and frequently asked questions. In this section, we’ll take a closer look at the advantages of Buyer’s Agents and answer some of the most common questions related to their services and pricing.
Does hiring a Buyer’s Agent save money?
Yes, hiring a Buyer’s Agent can save you money in several ways:
Negotiating A Better Purchase Price
A Buyer’s Agent can use their knowledge of the local property market and negotiating skills to often help you secure a property at a lower purchase price. They have access to data and information that can help you avoid overpaying for a property..
Finding Off Market and Coming Soon Properties
A Buyer’s Agent can help you find properties that are not yet on the market, or that you may not have otherwise found on your own. This can give you access to a wider range of properties and potentially better deals.
Searching for properties and attending open houses can be a time consuming process. A Buyer’s Agent can do this on your behalf, allowing you to focus on other aspects of your life. They can also save you time by doing the necessary research and due diligence on properties, such as checking for any potential issues or red flags.
Avoiding Costly Mistakes
A Buyer’s Agent can provide you with valuable advice and guidance throughout the buying process, helping you avoid costly mistakes. They can also help you navigate the legal and financial aspects of the process, ensuring that you are making informed decisions.
Overall, hiring a Buyer’s Agent can be a smart investment if you want to save money, time, and avoid potential pitfalls when buying a property.
Are Buyer’s Agent fees tax deductible?
You may be wondering if the fees you pay to a Buyer’s Agent are tax-deductible. The answer is that it depends on the purpose of your property purchase.
If you’re buying a home to live in, unfortunately, you won’t be able to claim your Buyer’s Agent fees as a tax deduction. However, if you’re purchasing an investment property, the good news is that the Buyer’s agent fees are generally tax-deductible.
This is because, for property investors, the cost base formed when buying a property, including the Buyer’s Agent fees, will reduce the capital gains tax liability when it comes time to sell the property. So, in essence, the Buyer’s Agent fees can help reduce your tax bill and improve your overall return on investment.
It’s important to note that tax laws can be complex and vary depending on individual circumstances, so it’s always recommended to speak to your accountant to ensure you are correctly claiming any deductions. As an experienced Buyer’s Agent, I can help guide you through the property purchasing process and work with your accountant to maximise your tax benefits.
What are the benefits of a Buyer’s Agent service?
Buying a property can be a daunting and time consuming process, particularly if you are unfamiliar with the market or don’t have the necessary negotiating skills. This is where a buyer’s agent can help.
An Expert Negotiator On Your Side
Negotiating the best possible price for a property requires experience, knowledge, and confidence. Buyer’s agents have the necessary skills to negotiate on your behalf and secure the best purchase price for you. With proven techniques and approaches, they can help you avoid overpaying for your dream home or investment property.
Buying Property Interstate or Overseas Made Easy
Buying property from interstate or overseas can be challenging, particularly if you aren’t able to visit regularly to inspect properties yourself. A Buyer’s Agent can help by doing all the heavy lifting for you in Brisbane, the Sunshine Coast and the Gold Coast where you’re purchasing. This can make the entire process smoother and faster, saving you time and effort.
Time and Effort Saved
If your time and effort are valuable to you, then hiring a Buyer’s Agent can be a smart decision. They will take care of all the boring but necessary tasks, such as locating property listings and investigating contacts. This will provide you with a shortlist of properties that meet your unique requirements, ultimately saving you time, stress, and hassle.
Access to Exclusive Listings
Hiring a Buyer’s Agent can expand your reach for potential listings, including off market properties that are not advertised on the main portals. This gives you access to exclusive deals that other buyers may not be aware of, providing a competitive edge in sought after markets.
Hassle Free Experience
Buying a property can be a stressful experience, particularly if you are a first time buyer or don’t regularly buy and sell property. Buyer’s Agent can unburden you of the stress that comes with the property purchase by being the point of contact with real estate agents and bidding at auctions on your behalf. This provides support that can secure a more suitable deal and ease your worries.
Expertise and Guidance
Buyer’s agents have the expertise and knowledge to ensure you get the best value for your chosen property. They can guide you on hidden issues and keep you focused on your individual goals and investment strategies. This ensures you are not sidetracked by deals that do not align with your requirements.
Hiring a Buyer’s Agent has many benefits that can make the property purchase process smoother, faster, and less stressful. From expert negotiation skills to exclusive access to off-market properties, a Buyer’s Agent can provide you with the necessary support and expertise to make an informed decision when purchasing your dream home or investment property.
Why does it vary greatly on what Buyer’s Agents charge?
You may wonder why there is such a wide variation in fees charged by different agents. The answer lies in several factors that influence the level of service provided by Buyer’s Agents and the extent of their involvement in your property purchase.
One of the key factors that impacts Buyer’s Agent fees is the amount of time they dedicate to your property purchase. Some Buyer’s Agents may offer a partial service, which typically involves assisting with due-diligence on a specific property or bidding on your behalf at an auction. This type of service is usually less involved compared to a full service.
On the other hand, a full-service Buyer’s Agent will be a comprehensive engagement that will take care of all the tedious work on your behalf, which can include understanding your requirements, differentiating between needs and wants, sourcing appropriate properties, consulting with vendors, bidding at auctions and ensuring all paperwork is properly prepared. The comprehensive nature of a full-service often reflects in the final fee charged by the Buyer’s Agent.
In addition to the level of service provided, Buyer’s Agents may also charge additional fees for affiliated services such as pest and building inspections, which are not typically included in their standard fee.
It’s important to note that the extent of service and associated fees can vary greatly depending on the Buyer’s Agent and their expertise, experience in the industry. It’s advisable to thoroughly discuss and clarify the scope of services and associated fees with your Buyer’s Agent upfront to ensure a clear understanding of the costs involved in your property purchase. By doing so, you can make an informed decision and select a Buyer’s Agent that best meets your specific needs and budget. Remember, investing in a Buyer’s Agent can provide valuable expertise and support throughout your property purchase journey, potentially saving you time, effort, and money in the long run. So it’s essential to consider the level of service and associated fees carefully when engaging a Buyer’s Agent for your property buying needs.
Here we have outlined the various Service Inclusions.
Should I use a buyer’s agent?
Using a buyer’s agent can be a smart decision as they have the potential to save you money on the property price and make the buying process smoother. Despite the cost associated with hiring a buyer’s agent, the expertise and experience they bring can be invaluable.
Benefits of Hiring a Buyer’s Agent:
- Potential cost savings on the purchase price
- Smooth and efficient buying process
- Expertise and experience in navigating the property market
- Access to off market or coming soon properties
- Professional negotiation skills
- Time-saving, as the buyer’s agent handles property search and negotiation on your behalf
- Access to industry connections and resources
It’s important to thoroughly research and find the right buyer’s agent for your needs, provide them with detailed information about your ideal property and budget, and calculate the costs associated with hiring a buyer’s agent beforehand.
Considerations Before Choosing a Buyer’s Agent:
- Thorough research to find the right Buyer’s Agent for your needs
- Clearly communicate your ideal property requirements, budget, and other needs/wants
- Determine the costs associated with hiring a Buyer’s Agent and budget accordingly
- Review the Buyer’s Agent’s track record, testimonials, and credentials
- Understand the Buyer’s Agent’s fee structure and contract terms
- Ensure the Buyer’s Agent is licensed and registered with relevant industry bodies
- Interview Multiple Buyer’s agents and compare their services and fees
- Clarify communication channels and expectations with the Buyer’s Agent
- Ensure there are no conflicts of interest with the Buyer’s Agent’s other clients or properties
By carefully considering these points and selecting the right Buyer’s agent, you can benefit from their expertise, save money and have a smoother experience in buying your dream property. Hiring a Buyer’s Agent can be a valuable investment in your property journey.
You can trust Templeton Property Buyer’s Agents for your next property purchase
As a trusted Buyer’s Agent, Templeton Property is here to provide you with expert assistance in your next property purchase. With over 20 years of experience in purchasing properties throughout South East Queensland, and having a registered Property Valuer on staff, you can trust our expertise and local knowledge to help you make informed decisions.
Transparent and Straightforward Fee Structure
One of the key advantages of choosing Templeton Property is our transparent and straightforward fee structure. Unlike many other Buyer’s Agents in Brisbane who charge a commission based on the final purchase price, we charge a simple fixed fee that is agreed upon upfront and not subject to change unless there are significant changes in the scope of the property being sought. This means that our fee is not influenced by the price of the property, so you can be confident that our recommendations are solely based on your best interests, and not driven by any financial incentives.
Comprehensive Professional Services Covered by Fixed Fee
Our fee covers our professional services, which include property research, identification, and negotiation on your behalf. It does not include any legal, conveyancing, or non-standard searches, as well as professional inspections such as building and pest inspections. However, we can assist in arranging these services through our trusted providers, or work with your nominated providers. This ensures that you receive comprehensive support throughout the property buying process.
100% Written Money Back Guarantee for Your Peace of Mind
To further give you peace of mind, Templeton Property also provides a 100% written money back guarantee. This means that if you are not satisfied with our services within the first 7 days, we will refund your initial fee, no questions asked. We are committed to delivering excellent service and ensuring your satisfaction throughout the entire property buying process.
Experienced and Registered Property Valuer
With Templeton Property, you can trust that you are in capable hands for your next property purchase. Our combination of over 20 years of experience, registered Property Valuer status, simple fixed fee structure and written money back guarantee sets us apart as a reliable and trustworthy Buyer’s Agent in Brisbane, Sunshine Coast and the Gold Coast. Our expertise and local knowledge ensures that you receive the best possible assistance in making informed decisions.
Contact Templeton Property for a Seamless Property Buying Experience
Contact us today to discuss your property needs and let us assist you in finding your dream home or investment property while saving you time, money, and stress. Trust us for a seamless and successful property buying experience. With Templeton Property, you can be confident that you have a reliable and trustworthy partner by your side throughout the entire property buying process.
What does a Buyer’s Agent cost at Templeton Property?
At Templeton Property, we believe in transparency and simplicity when it comes to our Buyer’s Agent fees. We charge a fixed fee for our services, which is made in two instalments: the Initial Engagement Fee and the Success Fee.
Initial Engagement Fee
The Initial Engagement Fee is payable upon signing of the agreement with Templeton Property. This fee covers the initial costs associated with engaging our services, such as conducting research, property analysis, and developing a tailored strategy for your property search. It is a one-time payment that demonstrates your commitment to working with us as your trusted Buyer’s Agent.
The Success fee is the second and final payment, which is payable when the contract of purchase becomes unconditional. This fixed fee is payable upon successful completion of a purchase. It aligns our interests with yours, as we are motivated to negotiate the best possible purchase price and terms for you, as our client.
Our fixed fee model has several advantages for our clients. Firstly, it provides clarity and certainty about the costs involved upfront, allowing you to budget and plan accordingly. There are no hidden fees or surprises along the way. Secondly, our fixed fee model ensures that our focus remains solely on achieving the best outcome for you, as we are not incentivised by a percentage based fee that may encourage higher purchase prices. We are committed to negotiating the best possible terms and purchase price on your behalf, regardless of the property’s value.
Money Back Guarantee
To further give you peace of mind, Templeton Property also provides a 100% written money back guarantee. This means that if you are not satisfied with our services within the 7 days, we will refund your initial fee, no questions asked.
Example Buyer’s Agency Fee Schedule
|Purchase Price Example||Full Service Fee Example|
$700,000 – $1,000,000
$16,000 + GST
Please contact us for a quote for your specific purchase requirements.
Tailor Made Service
Furthermore, at Templeton Property, we offer a competitive Buyer’s Agency schedule of fees, and we can also tailor our services to meet your unique requirements. We understand that every client is different, and we are flexible in customising our services to suit your specific needs and budget.
Our fixed fee model provides transparency, aligns our interests with yours, and allows us to focus on achieving the best outcome for you, our valued client. Please contact us to obtain a copy of our Buyer’s Agency schedule of fees or to discuss how we can tailor our services to meet your property buying needs. We are here to assist you every step of the way in your property buying journey. Trust Templeton Property as your Buyer’s Agent for your property purchase in Brisbane, Sunshine Coast and the Gold Coast. Contact us today and let us help you find and secure your dream property.
Payments are made in 2 instalments:
- The first payment is made upon signing of the agreement and this is called the Initial Engagement Fee;
- The second and final payment is payable when the contract of purchase becomes unconditional, and this is called the Success Fee.
Please contact us to obtain a copy of our competitive Buyer’s Agency schedule of fees. We can also tailor a specific service to meet your unique requirements.