In Sydney, a buyer’s agent typically charges based on one of two fee structures:
1. Fixed Fee:
- Range: $5,000 to $15,000+
- The fixed fee is agreed upon upfront and does not depend on the property’s purchase price.
- This is common for buyers who prefer transparency and certainty in costs.
2. Percentage of Purchase Price:
- Range: 1% to 3% of the property’s purchase price (excluding GST).
- For example, on a $1,000,000 property, the fee could range from $10,000 to $30,000.
Factors Influencing the Fee:
- Scope of Service: Full-service agents (property search, shortlisting, inspections, negotiation, and purchase) charge more than those offering partial services like bidding at auctions.
- Property Type and Location: Luxury or high-value properties may attract higher fees.
- Agent’s Experience: More experienced agents with a strong track record might charge a premium.
Typical Inclusions in Buyer’s Agent Services:
- Comprehensive property search tailored to the buyer’s preferences.
- Market research and price analysis.
- Property inspections and reports.
- Negotiation or auction bidding on the buyer’s behalf.
- Assistance with due diligence and final purchase formalities.
It’s a good idea to get quotes from multiple buyer’s agents and compare their fees, services, and track records to find one that aligns with your needs.