How much does a buyers agent cost in Australia?
Short answer: Buyers agents in Australia usually charge either a percentage of the purchase price, often around 2% to 3%, or a fixed fee. I charge a fixed $15,000 plus GST, paid in two parts.
Percentage vs fixed fee
On a percentage fee, the agent earns more when you pay more. That's a conflict of interest when their job is to get you the best price. A fixed fee removes it. I get paid the same whether you buy at $550,000 or $600,000, so I've got no reason to push your budget up.
$500,000 purchase: 2.5% fee is $12,500, fixed fee is $15,000
$650,000 purchase: 2.5% fee is $16,250, fixed fee is $15,000
$800,000 purchase: 2.5% fee is $20,000, fixed fee is $15,000
Fees shown before GST.
What to check before you sign
Is the fee fixed or a percentage?
Does the agent take any payment from sellers or developers?
Who inspects the property in person?
What happens if you don't end up buying?
Is it worth the fee?
A good buyers agent should save you more than they cost, through negotiation, avoiding a bad property, and saving you months of weekends. My first property, bought without help, cost me $25,000 when I sold it. That's more than the fee.
Luke Murphy is a buyers agent for healthcare workers, working Australia wide. General information only, not financial advice.

