14 Dec 2018

Using an agent to buy property

Looking to engage a buyer’s agent? NSW Fair Trading has released a fact sheet to help consumers understand the skills and motivations necessary for a professional buyer’s agent.

 The fact sheet, which is entitled ‘Using an agent to buy property‘ specifies the selection criteria and specific code of conduct buyer’s agents need to follow.

REBAA president Rich Harvey said the fact sheet not only helped consumers better understand buyer’s agents but was a critical endorsement of the benefits of this emerging industry.

“Buyers agents are fast becoming a secret weapon in the property market as home buyers realise the benefits of having a professional and fully independent advocate on their side,” said Mr Harvey.

“We are thrilled that NSW Fair Trading has recognised the contribution we make and the need to highlight to consumers the scope of services to expect when engaging a buyer’s agent.

“Most importantly the fact sheet identifies the need for a buyer’s agent to exclusively represent the buyer in a property transaction.

“Increasingly we are seeing the lines become blurred and selling agents representing both the vendor and the buyer.

“We strongly recommend buyers use an accredited REBAA member or risk entrusting what is likely to be the most important purchase of their life to someone who is not fully independent or experienced.”

To view the fact sheet, click on the link below.