You’ve completed your real estate licence, but now you’re wondering, “Where to next?” Stepping into the world of property acquisition as a buyers agent is an exciting yet challenging career path. It’s important to understand that simply being qualified isn’t enough. To build a thriving buyers agent career, you’ll need to make critical decisions, build your expertise, and navigate the complexities that aren’t covered in your Cert IV.

Below, we explore what you need to know to start your career, develop a specialisation, and avoid common pitfalls.

Key takeaways: 

• Define Your Niche: Decide early whether you’ll focus on owner-occupiers, investors, or both, and whether you’ll specialise in a local market or multiple areas.
• Gain Experience: Seek mentorship, work experience, or a role in real estate sales to gain the knowledge that your Cert IV doesn’t cover.
• Build Relationships: Avoid becoming the buyers agent sales agents ridicule by investing time in building your skills and fostering strong relationships with local agents.

One of the first decisions you’ll need to make is what kind of buyer’s agent you want to become. Do you envision working with owner-occupiers, investors, or both? The type of clients you work with will shape your career, so it’s important to understand the differences.

If you decide to focus on owner-occupiers, you’ll need to become a specialist in a particular area. Buyers agents don’t need to focus as tightly as sales agents, but having a thorough understanding of a local market is crucial. A good starting point is to concentrate on a region that spans 10 suburbs or fewer. You’ll need to know the best streets, property types, and local agents to develop an intimate understanding of what local buyers value.

If you prefer to work with investors, your focus might be more widespread. Many buyers agents working with investors purchase property in multiple locations across the country. If you choose this path, you’ll need to be licensed in every state or territory where you buy property. Familiarizing yourself with the nuances of legislation in each location is essential. Additionally, you’ll need to be skilled at property data analysis to make informed decisions about investment locations.

However, working in multiple markets is fraught with risks. Unless you have local knowledge and inspect properties in person, you can’t give your clients the best advice. For this reason, I’m not a fan of buyers agents operating in areas where they lack experience. Stick to regions you know intimately to build trust and deliver value.

A critical consideration for your buyers agent career is whether to run your own business or work for someone else. Depending on where you’re based, you may not have a choice initially. For instance, in NSW, ACT, Victoria, and WA, you’ll need to gain work experience before applying for a full licence to open your own agency. In other states, such as Queensland, you may be able to set up your business as soon as you’re fully licensed.

Starting your own business has its advantages, such as independence and potential higher earnings. However, it also comes with steep learning curves. There’s far more to running a business than what’s covered in the Cert IV. You’ll need to set up processes, manage client expectations, and protect both your clients and yourself legally. On the other hand, working for an established agency can provide a valuable training ground, allowing you to learn from experienced agents and avoid costly mistakes.

Gaining experience as a new buyers agent is perhaps one of the biggest challenges you’ll face. Many buyers agents run small businesses, and large agencies that hire new agents are rare. But that doesn’t mean there aren’t ways to develop your skills.

One option is to work as a sales associate in a real estate sales office. While it’s not exactly the same as being a buyers agent, it gives you valuable exposure to how the industry operates, including understanding the sales process and how to engage with buyers and vendors.

Another option is to join a mentorship program like the Buyers Agent Mentoring Program (BAMP). A mentorship gives you hands-on, practical support to navigate your first steps in the field, as most new buyers agents struggle through the process alone. You can also reach out to larger buyers agent firms in your area to see if they’re open to work experience or apprenticeships.

If you’re in a regional area, you might consider contacting a buyers agent in a nearby city to discuss working together. While this is less common, established agents are sometimes open to expanding into new areas with the help of a regional specialist.

You’ve earned your real estate licence, but here’s the reality: the Cert IV doesn’t prepare you for many of the essential skills you’ll need to thrive as a buyers agent. These courses were initially designed for sales agents and property managers. As a result, they don’t cover the specific skills buyers agents need, such as due diligence, asset selection, and client management.

One critical area often overlooked is due diligence. Some states, like Queensland and WA, operate on a “buyer beware” basis. If you don’t know what due diligence to perform, you open yourself up to huge risks and even potential litigation. Learning the legal intricacies, conducting property research, and understanding what’s not disclosed by vendors are vital skills for a buyers agent.

Not all properties are created equal. Knowing how to identify an A-grade asset that will grow in value over time is another area not covered in your certification. You’ll need to be adept at understanding market trends, property conditions, and the specific criteria that make a good investment or owner-occupied property.

Finally, negotiation is a key skill that your Cert IV doesn’t fully cover. Negotiating with experienced sales agents can be intimidating for new buyers agents, especially as sales agents often have more information about the property and the vendor than you do. Learning how to gather insights, leverage them in negotiations, and protect your client’s interests is an invaluable part of being a successful buyers agent.

Essential learning to get your Buyers Agent career off the ground (this is the stuff that’s NOT covered in your real estate licensing course). Online learning program that covers:

• Sign up – how will you structure your services, agency agreement, fees
• Client onboarding – brief, what they can get, market conditions, expectations
• Finding property – online, off market, agent relationships
• Pricing property – beyond the CMA
• Due Diligence – what’s disclosed versus what isn’t
• Negotiation – strategy

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It’s a well-known fact that inexperienced buyers agents can be easy targets for seasoned sales agents. Rookies who don’t know the market, fail to develop relationships with local agents, or don’t inspect properties thoroughly are often laughed at behind closed doors.

To avoid being the buyers agent that sales agents don’t take seriously, it’s crucial to invest time and energy into learning your craft. Build strong relationships with local agents, attend property inspections, and understand the market dynamics in your target area. Remember, there’s no quick route to becoming a respected buyers agent—it takes years of dedication and hard work.

Building a client base as a new buyers agent can take time and effort. You need to manage expectations, nurture leads, and have a clear value proposition. Often, prospects won’t convert immediately, so having a well-thought-out process is essential.

Networking is a critical way to find clients. Past relationships with real estate agents, friends, or even previous professional contacts can be gold mines for leads. You should also consider developing a local presence through community involvement, sponsorships, or targeted marketing campaigns.

Once you’ve established a reputation, word of mouth and referrals will be your most powerful tools. But in the beginning, it’s about getting your name out there, providing value, and proving your expertise.

Starting a buyers agent career requires dedication, expertise, and the right approach. Follow these steps to set yourself up for success.