Unlike a real estate agent, the main objective of a buyers agent Sydney is to prioritize the buyer’s interests. They represent the party interested in purchasing a property, and work to land them the best deal possible. Good buyers agents in Australia earn between $80,000 and $200,000 a year. Some earn even more thanks to their accomplished communication and negotiation skills.
To become a buyers agent, however, you will have to meet training and license requirements. You will also have to develop the required skills along with the knowledge and experience needed to succeed in the profession.
What do buyers agents do?
Here are the key responsibilities of a buyers agent Sydney:
- Search for properties that match the buyer’s requirements
- Schedule property visits with the buyer
- Compare the cost of the property with other properties in the market
- Consult with sellers or selling agents
- Negotiate the final price of the property
- Create a strong offer on behalf of the buyer
- Bid at auctions to secure properties, if required
- Arrange for inspection of the property
- Conduct due diligence tasks to ensure there are no problems for the buyer
- Offer real estate advice to buyers
Qualifications required to become a buyers agent in NSW
To work as a buyers agent in NSW, you require a tertiary educational qualification along with a license and work experience. The following are the crucial requirements for a buyers agent NSW:
- Complete your training and licensing requirements
- Work for a minimum of one year under a licensed real estate agent or company
- Obtain your real estate license
Training and license requirements for buyers agent NSW
You need a license or authorization before you start working as a buyers agent Sydney. The first step in the process is to take a short buyer’s representation course which can be completed in a matter of just five days. Once you finish the course, you will have to take an exam to obtain your license.
There are two buyers agent NSW licenses you can obtain. While one license is enough for agency employees, you will require an agency license along with a full license if you plan to start your own buyers agency Australia.
Professional experience required to become a buyers agent Sydney
To become a buyers agent, you will need some experience in the real estate sector. If you have a college education, you can easily apply for entry-level jobs at real estate firms in NSW. The job will help you connect with other professionals in the NSW real estate market. It will also help you observe and develop the skills required to succeed in the practice. Some of the entry-level jobs you can seek to become a good buyers agent Sydney include entry-level realtor, real estate assistant, or entry-level real estate agent.
Skills required to become a buyers agent in NSW
Since buyers agents primarily deal with people, it is crucial to develop strong people skills if you wish to succeed in your profession. You will be dealing with various personalities, which makes it essential for you to understand human psychology. Besides communication skills, you will also require strong negotiation skills if you want to secure the best deals for your clients.
Knowledge and experience required to become a buyers agent Sydney
It is crucial for a buyers agent to not only be knowledgeable about the NSW real estate market, but to also stay updated with changes in the industry. Staying on top of the market will help you evaluate the true cost of properties. It can also help you foresee price fluctuations and thereby negotiate the best deal for your clients.
Buyers agents Sydney have to collate information into brochures and booklets to share with homebuyers. It helps if you are tech savvy as you can create better content for your clients. Since homebuyers reach out to buyers agents online, responding via emails or messages on social media will help you attract more customers.
Quick tips on how to become a buyers agent NSW
To sum up briefly, here’s what you need to do to become a successful buyers agent Sydney:
1) Develop a thorough understanding of the NSW real estate market and stay updated with market changes and trends
2) Join a real estate company and begin working as a buyers agent Sydney
3) Work on your communication and negotiations skills
4) Network with other agents and build your contacts within the industry
5) Always provide the best possible service to your clients