What is the difference?

What is the difference between a real estate agent and a property buyer? Here at Baxter and Mason Property Buyers Agent, we have this question asked a lot!

A standard real estate sales agent in Queensland is licensed to work on behalf of the residential property seller to list and sell their property and represents the seller’s interests in the transaction. This real estate agent can help a buyer negotiate the purchase of the property but ultimately works for the seller’s best interest.

The general function of a real estate sales agent are:
• To estimate the selling price of a property
• To market property
• To show property
• To negotiate price and
• To affect a binding contract.

A buyer’s agent in Queensland is a licensed agent who is paid to protect the interests of buyers, and works solely for the buyer by researching, sourcing the property and negotiating the purchase price and terms and conditions of the purchase.

Buyer’s advocates strive to achieve the best price and terms for the buyer and do not represent either the seller or the landlord. They are a consulting agent that assists the buyer in making the best decision for their particular property needs.

The buyers advocate job is to:
• Qualify the purchasers’ ability to buy the property
• To search for properties within the price range and individual needs of the client
• To negotiate on behalf of the buyers and
• Assist with effecting of a binding contract

All legislation places a fiduciary duty to act in the best interest of their client. What this means is, if an agent is working for a seller/vendor, it is their job to achieve the highest price on the best terms for the seller. Whilst a buyer’s agent will attempt to obtain the lowest price on the best terms for their client. This prevents real estate sales agents from acting for both parties.