If you’re considering hiring a buyer’s agent in Newcastle, one of the first questions you’ll have is: How much will this cost me? And more importantly, how do they get paid?
It’s a fair question, especially when you’re already dealing with stamp duty, legal fees, inspections, and the rest. So, let’s talk through how buyer’s agents are typically paid, what’s standard in the industry, and what to look out for.
Fixed Fee vs. Percentage-Based Commission
The two most common ways a buyer’s agent charges are:
- Fixed Fee – You agree on a set amount upfront, regardless of the property price. This is becoming increasingly common, especially for buyers who prefer to know precisely what they’re getting into from the start.
- Percentage of Purchase Price – Some agents charge a percentage (often around 1–2%) of the final purchase price. So, the more expensive the property, the higher the fee.
Both models are legitimate, and neither is better than the other across the board—it comes down to the complexity of your brief, the service being offered, and your comfort level with the pricing.
What Does the Fee Cover?
A full-service buyers’ agent does a lot more than find listings. The fee often covers:
- A detailed discovery session to understand your needs
- Market research and shortlisting suitable properties
- Off-market opportunities you wouldn’t otherwise see
- Inspection and due diligence
- Price analysis and valuation guidance
- Negotiation with the selling agent
- Support right through to settlement
Some agents also offer “evaluate and negotiate only” services at a lower rate if you’ve already found the property yourself.
Who Pays?
The buyer pays the fee. A buyer’s agent works exclusively for you—not the seller—and that’s what makes the relationship so valuable. Their loyalty, advice, and strategy are all in your best interests. They’re not splitting commissions or quietly representing both sides.
Is It Worth It?
That depends on your situation. If you’re time-poor, unsure about property values, or don’t like negotiating, having a professional in your corner can not only save you time and stress—it can also save you money by avoiding costly mistakes or overpaying.
A good buyer’s agent in Newcastle will know the local market, understand where value lies, and often spot opportunities before the rest of the market sees them.
Is a buyer’s agent worth the fee?
Contact Select Property Finder for a free chat. We’re always happy to walk you through the process and help you work out if it’s the right path for you.