How to Become a Buyer’s Agent in Queensland
If a career as a buyer’s agent entices you, the first step you should take is reading this article. It covers everything you’ll need to do to launch a real estate career. If you’re an existing real estate agent, or you already hold your registration certificate or full real estate license, the good news is there’s no additional study required.
Buyer’s agents who wish to operate independently as a principal licensee will need to acquire their full real estate licence. For those who wish to work under a principal licensee, only a registration certificate is required.
What Buyer’s Agents Do
Firstly, let’s take a look at what a buyer’s agent actually does. Put simply, they represent buyers during property transactions. Just as sellers engage the services of a sales agent, many buyers seek out the help of a buyer’s agent. Their role is to negotiate the purchase on behalf of their client – the buyer.
Buyer’s agents represent both owner-occupiers and investors. For the latter, the buyer’s agent service would involve more data analysis and interpretation, with the goal being the highest possible rental yield and capital growth.
Regardless of the client, buyer’s agents will always be tasked with negotiating with sales agents for the best price they can achieve for their client. There are plenty of reasons buyers should employ an agent to represent them.
How to Become a Buyer’s Agent
As stated earlier, there are no additional training courses or qualifications required to become a buyer’s agent. The REIQ’s registration course will teach you the entire process of a property sale – which Joanna Boyd of Joanna Boyd Buyers Advocate says is the most important thing a buyer’s agent needs.
“We need a thorough understanding of what paperwork is to be done, and what actually happens through each step of the sales process,” says Boyd. “For a lot of the work, though, you’re really learning on the job.”
For those already working in real estate, the sales process could be done while sleeping. For anyone new to real estate, however, Boyd recommends working in an agency in any capacity that can teach you the ropes. “Try to work for an established buyer’s agency where there are multiple employees to learn from,” she says. “Learn the terminology, the process, what each part of the agency does.”
Negotiation is also a vital part of the buyer’s agent’s role, and practice makes perfect. “Negotiation really just comes down to practice and confidence,” says Boyd. “Stick to the client’s brief and understand what their end goal is. As a buyer’s agent you need to not get emotionally invested, instead follow your client’s directions at all stages. Sometimes it’s just about being a bit ballsy, and not taking things personally.”