Buyer’s agents are in greater demand than ever before. Particularly in competitive property markets like we have in Australia – prospective buyers are looking to get an edge in any way they can.
As well as being an incredibly competitive market to try and navigate, buying a home can be intense and stressful. So, it’s no surprise to see more and more Australians deciding to use buyer’s agents to buy a home and more people considering a career as a buyer’s agent. With the real estate industry bursting with exciting and rewarding career opportunities – you might even find yourself thinking about a career as a buyer’s agent.
So, that begs the question – how do I become a buyer’s agent? In this article, we will first outline exactly what a buyer’s agent does, detail how to become a buyer’s agent in Australia, and ultimately help you decide if it is the right career move for you.
What does a buyer’s agent do?
A buyer’s agent (or buyer’s advocate) is a professional who provides guidance and support throughout the entire home-buying process to make this complex process simpler and more stress-free. As a buyer’s agent – your overarching goal is to make life easy for your clients and to help them secure the house of their dreams.
There is an array of intricate stages when it comes to buying a home, and a buyer’s agent will help every step of the way. Some of the primary responsibilities of a buyer’s agent include:
- Researching the local market for opportunities.
- Finding ideal properties within the market suited to the client’s needs.
- Carrying out inspections and conducting due diligence on prospective properties.
- Attending live auctions to bid on behalf of the client.
- Negotiating a fair price for the property.
- Liaising with solicitors, conveyancers, accountants, mortgage brokers, real estate agents, and other key parties involved in buying a home.
- Helping to secure and negotiate a mortgage.
- Support in closing the deal and signing the contracts.
- Building an extensive network of trusted sellers and real estate agents.
Should I become a buyer’s agent?
Becoming a buyer’s agent provides several benefits. For many people, the primary motivation is to make a positive difference in people’s lives. Buying a home is an exciting time – but it is also extremely stressful. A skilled, experienced buyer’s agent is invaluable when it comes to reducing this stress and helping prospective home buyers to focus on the joy of moving into their dream home. Also – let’s not beat around the bush – working as a buyer’s agent can be lucrative, and it provides excellent financial opportunities to those that succeed in this industry.
How do I become a buyer’s agent in Australia?
There are several steps involved in becoming a buyer’s agent and unfortunately, it is not something that you can simply step into. However, becoming a buyer’s agent is a very attainable goal once you have a good plan and put in the necessary hard work. To help you get there – we have detailed the most critical elements of becoming a buyer’s agent in Australia below.
1. Education and training
The first step to becoming a buyer’s agent is acquiring the necessary education and training. As you might expect (and as anyone would hope), you must put in the time and go through the proper educational process to become a buyer’s agent.
While many buyers agents will attend university, this is not mandatory. However, obtaining a Certificate IV in Real Estate Practice (an accredited, nationally recognised qualification) is required to become a buyer’s agent in Victoria. Attaining this Certificate is a pivotal part of the process, laying the foundations for your learning about property sales, real estate, legal requirements, leasing, and more. If you’re based in New South Wales, you’ll need to complete the Assistant Agent course at the very least to get started.
The Certificate IV in Real Estate Practice is a Class 2 Real Estate License meaning you can act as a buyer’s agent, work in property sales, property management, property marketing, and leasing for residential and commercial properties. However, if you want to open or operate your own real estate agency, you will need to obtain a Class 1 license.
Applying for your real estate licence in Australia
Before you begin searching for real estate jobs, buyers agents jobs, and building up your experience as an estate agent – you will need to secure your real estate licence. The process is slightly different in every state but is relatively simple. Across Australia, government bodies such as NSW Fair Trading will require you to submit the following:
Proof of identity
Your educational qualifications
Industry experience
As part of this process, you will also need to pay a licence fee, and you might be required to undergo a criminal history check.
2. Qualifications
As well as obtaining your Certificate IV in Real Estate Practice, you must build up industry experience before becoming a buyer’s agent.
To apply for any buyer’s agent role in Australia, it would be a bonus if you have 12 months of relevant industry experience, typically with a real estate agent. This time (and the experience you gather) is vital to help gain practical, real-world experience, and develop your skills for the future.
3. Skills and experience needed
Education and qualifications are crucial – but they will only get you so far. To succeed and thrive as a buyer’s agent, you must build the essential practical and soft skills required for this type of career.
While some of the specialised skills specific to the career will only come with experience, attending a Buyer’s Agent course can help you get a head start. Early parts of the course are designed to help you gain the foundational knowledge needed to build your career, with the learning gradually shifting to more practical exercises and real-world applications.
Apart from developing essential skills such as communication, attention to detail, and initiative, going through the practical exercises in the Buyer’s Agent course will award you with more confidence in your abilities and prepare you for the diverse array of situations you will encounter in your work. Additionally, you will learn industry-specific skills such as market analysis, property searching, bidding at auctions, mortgage negotiations, and client collaboration.
As early as you can, you also want to build an extensive network of sellers and real estate agents that you trust, so when you have your first clients, you have all the resources available to secure them the property they desire.
Am I ready to apply for a job as a buyer’s agent?
If you’ve acquired your certification, gained the relevant skills and work experience, and feel mentally ready for the challenge – you are ready to become a buyer’s agent. It’s time to prepare a strong resume, use the network that you have, and kickstart your career.
If you have not yet completed these elements but would love the chance to work as a buyer’s agent in Australia – you are still not too far away. At Entry Education, we offer courses for every certification and training you need to get a foothold in the real estate world and become a fully qualified buyers’ agent.
Our real estate courses are designed for people like you, to set you up for success and put you on the right track to becoming a trusted, skilled, and professional buyer’s agent in Australia.
