The Rise of Buyer’s Agents—And the Risks
/Using a buyer’s agent can be helpful if you’re time-poor, new to the property market, or simply don’t want to deal with selling agents. But here’s the reality: anyone can call themselves a buyer’s agent, and many entering the field today have little to no professional background.
We’ve seen everyone from ex-tradies to former retail workers set themselves up overnight as “property experts.” The trouble is, you’re paying thousands of dollars for their recommendation—so it pays to ask the right questions before following their advice.
What to Confirm Before You Bid
1. Are They Insured?
A genuine professional buyer’s agent should hold professional indemnity insurance. If they don’t, walk away. Without insurance, you’ll have little recourse if their recommendation leads you into a financial mistake.
2. Do They Actually Know the Market?
Has your buyer’s agent worked in the local property market for years—or were they working in an unrelated trade just months ago? Local experience matters. You want someone who knows the street-by-street differences, not just someone who’s read a property blog.
3. How Much Time Did They Spend at the Property?
When recommending a property, how thorough were they? Did they actually attend an inspection, walk through the home, and check the surroundings—or are they simply sending you listings? If they haven’t personally inspected the property, you should question the value of their recommendation.
4. Are They Filtering Properties Properly?
What kind of properties are they putting forward? Do they align with your budget, your needs, and the due diligence required for long-term ownership—or are they just throwing options at you?
Always Double-Check With Independent Experts
Even if you trust your buyer’s agent, never rely on their word alone before bidding. Independent checks are essential:
Conveyancer: An experienced conveyancer (like Victorian Property Settlements) will review the contract and Section 32 statement, uncovering risks that a buyer’s agent may overlook.
Building Inspector: A professional inspection can reveal hidden defects, pests, or compliance issues that could cost you dearly after settlement.
Remember: you’re spending a lot of money not only on the property itself but also on the buyer’s agent’s fee. For peace of mind, have everything double-checked before you put your hard-earned deposit at risk.
The Bottom Line
A buyer’s agent can add value—but only if they are qualified, insured, and doing the hard yards for you. Always confirm their credentials, question their recommendations, and engage your own independent conveyancer and building inspector before you bid.
At Victorian Property Settlements, we’ve been helping Victorian buyers and sellers for more than 25 years. Our job is to protect you, not to sell you on a property. If you’re relying on a buyer’s agent, make sure we’re part of your team before you commit.
Victorian Property Settlements – Trusted for over 25 years by Victorian buyers and sellers. Visit: www.victorianpropertysettlements.com.au