Become a Buyer's Agent

Buyer’s agents, (or advocates) are a growing force in the property market. Not only are people realising the value of having a professional advocate on their side, but more are also seeing it as a long-term career. Before you take the plunge, be sure to do your research. A true buyer’s agent does not take commissions, fees or other kickbacks from vendors. The Real Estate Buyer’s Agents Association (REBAA) includes some of the most experienced and reputable buyer’s agents in Australia, each of whom have their own unique background.

Check out the below video in which Cate Bakos and Melinda Jennison talk about their early days starting out as buyer’s agents.

 

Whether you are intending on setting up your own buyer’s agency or working alongside an existing buyer’s agent, you will need to make sure you meet the requirements for the specific state/s in which you are operating. Each state has its own laws and licensing requirements regarding property transactions. To get started, please make an enquiry with your state-based Department of fair Trading/Business Licensing. You can also contact the Real Estate Buyer’s Agents Association (REBAA) or your local Real Estate Institute (REI) for further guidance.

In terms of training, different businesses offer differing regimes. Some encourage a ground-up training system by partnering experienced BA’s with assistant BA’s in training, whilst others offer ‘apprenticeship’ style roles for new market entrants. Ideally undertaking an apprenticeship with a REBAA accredited buyer’s agent/advocate who can mentor you through the early years is recommended. The Real Estate Institute in your state plus TAFE and some private institutions run training courses. 

A strength in business operations is also beneficial for those who embark on running their own business. However, buyer’s agents can come from many different backgrounds – each offering their own benefits which can be transferred and utilised as a buyer’s agent. Some of REBAA’s most experienced buyer’s agents hold tertiary qualifications spanning accounting, valuations, business, law, science, medicine, and nursing (to name a few).

 

While REBAA is excited about the future growth of the buyer’s agent profession and understands everyone must start somewhere, the association is becoming increasingly aware of the number of new entrants entering the market with little or no experience. Equally concerning are reports from new entrants that some online non-accredited courses are failing to deliver the actual skills required in the role and setting false or unrealistic expectations in terms of potential salary*. For more red flags and to learn more read our blog on Thinking of becoming a BA.

*If you are concerned that your training provider is overpromising and underdelivering please contact the Australian Competition and Consumer Commission.