Zaki Ameer of DDP Property Releases Comparative Analysis of the US and Australian Buyers Agent Real Estate Markets

SYDNEY, July 20, 2024 (Newswire.com) - Zaki Ameer, Founder of DDP Property, says that the "role of buyer agents in real estate transactions is critical, providing expertise, negotiation skills, and an unbiased perspective for buyers." While the concept is well-established in the United States, Australia needs to catch up in both the prevalence of buyers agents and the overall structure of the real estate market. This disparity highlights the need for Australia to reform its real estate market to serve its consumers better.

The Prevalence of Buyers Agents in the United States

In the United States, buyer agents are a standard real estate transaction process component. They represent the buyer's interests, ensuring that they secure the best possible deal. According to the National Association of Realtors (NAR), there are over 1.5 million real estate agents in the U.S., with a significant portion working as buyers agents. This widespread availability of buyers agents offers several advantages:

1. Expertise and Market Knowledge: Buyers agents have in-depth knowledge of local markets, helping clients navigate the complexities of property purchasing.
2. Negotiation Skills: They possess strong negotiation skills, often securing better client deals and terms.
3. Time-Saving: Buyers agents handle finding and vetting properties, saving buyers considerable time and effort.
4. Objective Advice: Buyer's agents provide unbiased advice because they do not have a vested interest in selling a particular property.

The Australian Real Estate Landscape

Ameer says, "In contrast, Australia has a relatively low number of buyers agents. While the exact number is hard to pinpoint, it is clear that the role is not as entrenched in the real estate market as it is in the United States." Several factors contribute to this situation:

1. Lack of Awareness: Many Australian buyers need to be made aware of the existence or benefits of buyers agents.
2. Cost Concerns: The additional cost of hiring a buyers agent can deter potential clients, even though the long-term savings and advantages often outweigh the initial expense.
3. Market Structure: The Australian real estate market is more seller-centric, with most agents working to secure the best deal for sellers.

DDP Property aims to resolve the above disadvantages by offering its services to everyday Australians to ensure they are well represented when purchasing one of the most significant financial decisions a buyer may make.

Source: DDP Property