Why is it important for a Buyer’s Agent to be a member of REBAA?

The demand for buyer’s agents has been on the rise in Australia for the last few years, which has led to an influx of new advocates with little experience and questionable skill levels. This article explores whether becoming a member of the Real Estate Buyers Agents Association of Australia (REBAA) is a strategic move for buyer’s agents aiming for excellence or merely an attempt at creating legitimacy.

Key Takeaways:

• There is a barrier to entry to REBAA membership that is important for consumers to have confidence in the brand.
• Members must commit to a code of ethics for client-centric practices and professional conduct.
• Consider multifaceted memberships, such as PIPA and state Real Estate Institutes, for a comprehensive commitment to excellence.

Stringent Application Process

REBAA sets a high bar for membership, ensuring a qualified pool of buyer’s agents. Requirements include correct licensing, professional indemnity insurance, and a minimum of two years’ experience.

Adherence to a Code of Ethics

Members commit to following a robust code of ethics which emphasizes transparency, client interests, and respect. This ethical dedication is a key differentiator in an industry often scrutinized for its practices.

Avoiding Conflicts of Interest

REBAA members exclusively work for buyers and do not sell property, nor double-dip with their fee arrangements. They avoid conflicts of interest by refusing incentives from developers or real estate agents. This ensures unbiased property recommendations solely driven by client needs.

Local Knowledge and Best Practice

REBAA signifies a commitment to local expertise and the code of ethics stipulates that all recommended properties are inspected in person by the buyer’s agent or one of their team or contracted agents. Members understand local market nuances, providing clients with invaluable insights. Local specialization ensures a genuine competitive advantage and is a key ingredient for success as a buyer’s advocate.

National Network

As the sole national association for buyer’s agents in Australia, REBAA membership offers an opportunity to collaborate and share knowledge with the best operators in all markets across the country. Non-membership raises red flags, indicating potential shortcomings in meeting industry best practise.

Many REBAA members also choose to join the Property Investment Professionals of Australia (PIPA) and/or their state or territory Real Estate Institute (REI). Membership of PIPA, the Real Estate Institute of Victoria (REIV) and the Real Estate Institute of Queensland (REIQ) entails continued education through a CPD (Continuing Professional Development) program, ensuring that agents stay abreast of industry trends and improve their expertise.

Choosing a REBAA member amplifies a buyer’s agent’s real estate expertise, fostering professionalism, ethics, and unwavering dedication to client interests.

Veronica Morgan is principal and Licensee in Charge of Good Deeds Property Buyers. Good Deeds has been a member of REBAA since 2011 and Veronica has previously served for two terms as Vice President. Veronica currently is a board member of PIPA and a member of the REINSW Buyer’s Agent Chapter Committee.