In recent years, the role of buyer’s agents has surged in popularity across Australia, transforming the way people approach property purchasing. Once considered a niche profession, the buyer’s agent has become a critical ally for homebuyers navigating an increasingly complex and competitive market.
At The Property Baron, we’ve seen this shift first-hand as buyers seek independent representation and expert guidance. With rising housing demand in highly desirable regions such as Brisbane, the Sunshine Coast, the Gold Coast and Noosa, this trend shows no signs of slowing down.
But why now — and how does this compare historically to other professional services?
The Rise in Popularity
A buyer’s agent acts solely on behalf of the buyer, working to find, negotiate and secure properties that align with their client’s goals. Traditionally, selling agents were seen as the primary point of contact for buyers, despite their obligation to act in the seller’s best interests. This imbalance created a growing need for independent advocates — a role filled by professional buyers agents and buyers advocates who represent only the purchaser.
According to data from the Property Investment Professionals of Australia (PIPA), the number of buyer’s agents has increased significantly over the past five years. In 2016, there were around 500 buyer’s agents registered across the country. Today, that number exceeds 1,000, with a significant proportion operating in Sydney, Melbourne, Brisbane and key lifestyle markets such as Noosa and the Sunshine Coast.
Market Forces Behind the Surge
Several factors have driven this increased demand:
- Property Market Complexity: Australia’s real estate market has become increasingly competitive and difficult to navigate, particularly in hot markets. Between 2020 and 2021, housing prices rose by 22% in major cities like Sydney, according to CoreLogic. In this environment, buyers increasingly seek expert guidance.
- Time-Poor Buyers: With many buyers balancing demanding careers and family commitments, outsourcing the time-consuming property search process provides valuable market insights and efficiency.
- Investment Growth: Real estate continues to be viewed as a strong investment vehicle. Buyers’ agents provide investment advice, conduct due diligence and negotiate on behalf of investors seeking long-term returns.
- The Pandemic Shift: COVID-19 reshaped buyer priorities, with many seeking lifestyle-driven moves to coastal and regional areas. Increased interstate migration from Sydney and Melbourne into Queensland has further elevated the role of buyer’s agents.
A Historical Perspective: Comparing Buyer’s Agents to Other Professions
A few decades ago, the concept of a buyer’s agent was largely unknown. Real estate agents were often perceived as acting for both buyers and sellers, though their legal obligation was always to the seller.
The rise of buyer’s agents mirrors the growth of professions such as financial planners and mortgage brokers. As financial products became more complex in the 1980s and 1990s, consumers sought specialists to guide decision-making. The same shift is now occurring in the property market.
The Importance of Accreditation and Experience
With more professionals entering the field, choosing the right buyer’s agent is critical. Buyers should look for accredited agents with proven experience, strong local knowledge and a track record of successful outcomes.
Accredited agents, such as those certified by the Real Estate Buyers Agents Association of Australia (REBAA) or PIPA, adhere to strict professional standards.
While television shows often portray buyer’s agents conducting glamorous inspections, the reality involves detailed market analysis, negotiation expertise and legal understanding — skills developed through years of experience.
Statistics Supporting the Growth
Several statistics reinforce this trend:
- Growing demand for buyer representation: A 2023 PIPA survey found that 40% of Australians buying property considered using a buyer’s agent, compared to just 10% a decade ago.
- Increased transaction involvement: REBAA estimates buyer’s agents were involved in over 10% of property transactions in Sydney and Melbourne in 2022, up from 3% in 2015.
- Willingness to pay for expertise: Despite fees typically ranging from 2% to 3%, 85% of buyers surveyed in 2023 believed their buyer’s agent helped them achieve a better result.
What the Future Holds
As the property market continues to evolve, the role of buyer’s agents is expected to expand further. Increasing complexity and competition are driving buyers to seek personalised, expert advice.
This growth may also lead to more rigorous accreditation and regulation, similar to developments seen in the financial planning industry.
In conclusion, buyer’s agents have become an integral part of the modern real estate landscape. Whether assisting first-home buyers, relocating families or seasoned investors, buyer’s agents offer expertise, strategy and peace of mind in an increasingly complex market.