Buying property on the Gold Coast? A buyer’s agent can help you find your dream home at your dream price.
The property market on the Gold Coast is booming. With the median house price hitting $600,000, demand for homes on the Sunshine State’s “Glitter Strip” is higher than ever before. While this is great news for sellers, it means that Gold Coast home buyers are constantly looking for ways to save money when buying a home.
One way home buyers can find a better deal when buying Gold Coast property is to use a reputable buyer’s agent, so let’s take a look at how to find a good buyer’s agent on the Gold Coast.
How do I choose a buyer's agent?
If you decide to use a buyer’s agent to help you find and purchase a property, it’s crucial that you know how to choose the right buyer’s agent. To do this, you’ll need to research and compare a number of agents, making sure to examine the credentials, knowledge and experience of any potential candidate.
What does it cost to use a buyer's agent?
How much do Gold Coast buyer’s agents cost? The answer depends on the fee structure the agent uses:
- Some buyer’s agents charge a fixed fee for their services, which can typically range anywhere from $5,000 up to around $15,000.
- Other agents charge a fee calculated as a percentage of the property purchase price, with most fees falling around 1-3%. So if you purchased a Gold Coast home at the median price of $600,000, the agent’s commission could be anything from $6,000 up to $18,000.
Before hiring an agent, you should also make sure you’re aware of when you will need to pay their fee. While some agents won’t charge anything until you have purchased a property, many will require you to pay a portion of their fee upfront.
What's the median price of a property on the Gold Coast?
The median house price on the Gold Coast hit $600,000 in December 2016. This figure represents a 6.2% increase over the previous 12 months and a 21.2% jump over the past three years. This makes the Gold Coast one of the most expensive areas to buy a home in Australia, with prices higher than in many capital cities, including Brisbane.
These rising property prices show just how important it is to consider using a buyer’s agent when searching for a property. Not only can a good agent help you negotiate the best possible purchase price, but they can also give you an advantage over other home buyers and help you access properties for sale before they hit the market.
Popular suburbs on the Gold Coast to buy property in 2017
Median sales price: $819,250
Located near the exclusive suburb of Mermaid Beach, Mermaid Waters boasts close proximity to a wide range of amenities and attractions. The median sales price in Mermaid Waters is $819,250, an increase of 7.8% over the past 12 months.
Median sales price: $375,400
An affordable suburb at the northern end of the Gold Coast region, Coomera has seen significant residential development in recent years. The median sales price of $375,400 has increased 5% in the past 12 months.
Median sales price: $730,000
The southern suburb of Palm Beach is located 14km from Surfers Paradise and is a little less frenetic than other parts of the “Glitter Strip”. The median house price is $730,000, a figure which has increased 6.3% in the past year.