Working With Real Estate Agents to BuySell Land in Victoria
                     
Either you will buy a piece of land or you will sell land, in either case, you will be hiring a real 
estate agent. Working  with the buyers’ agent and working with the sellers’ agent and buying 
land in Victoria directly are all different. In  this blog, we will take you through the differences 
in all three processes.
In order to buy or sell land, there is a good chance that you will be working with a real estate 
agent especially when  it comes to searching for a land.
A good agent or a broker (the owner of a real estate brokerage) can be a great resource as they 
will help in locating,  evacuating, and comparing the pieces of land.
Just remember that unless you are working with the buyer’s broker, the real estate agent might 
be working for the  seller, if not you.
No matter how professional, friendly or informative the real estate agent might be. No matter 
how many  properties and agent shows you, the agents traditionally work for the seller and 
have a legal fiduciary obligation to  act in the best interest of the seller.
Also, when you have to get down to the financial nitty gritty of prices and offers, you must 
take their advice with  utmost caution. In fact, most real estate agents are quite 
knowledgeable about houses than the vacant land, so  their knowledge about the wells, septic 
tank system, zoning, and the rest may be limited. You will have to do your  own research and 
make sure the land you are wanting to buy fulfills your needs.
In order to buy or even sell land, you must choose a real estate agent carefully as there is a lot of 
money on the table  and mistakes can cost you a lot of financial security. Hire a professional real 
estate agent who is knowledgeable and  experienced. The one who works in coordination with 
you, listens to your needs and even have a good rapport in  the market.
Working With The Seller’s 
Agent
Whether you like it or not, there is by definition an adversarial relationship between buyer and 
vendor. So, confiding  in the agent who is working for the opposition, for instance, telling the 
broker how high you will go in a negotiation is  unwise as the agent is bound to tell this to the 
seller. While on the other hand, the seller’s listing agent can be an  excellent source to get 
detailed information about property.
The agent will probably know about the property and the seller than any other real estate 
agent. With the  increasingly strict real estate disclosure laws enacted, the sellers’ agent 
is unlikely to withhold information.
So, it is suggested to ask the agent as many questions you may want to ask like about the perc 
tests, water quality,  wetlands, former uses of the land, etc. Make sure you confirm the 
information given to you before making a final  decision or acting on it.
The listing agent always know how for long the property has been on the market place and its 
price history (which is  also now readily available on the web). The listings agent probably has 
some insight into the sellers’ level of  motivation too and the things they are willing to accept. 
Just to let you know, your agent is unlikely to advise you on  how much to bid because it would be 
violating his legal obligation towards the seller.
Working With A Buyer’s 
Agent
We have understood about the seller’s agent. Now, let us see working with a buyer’s agent.
Fortunately for buyers of land in Victoria, the real estate business is in transition and more and 
more agents and  brokers might work with you as a buyer’s agent or as a buyer’s broker that 
too at no additional cost to you, as they  are paid out of the sales commission. In such a case, 
the broker’s fiduciary obligation is to the buyer.
If you are planning to look into a lot of properties, then I would recommend working with the 
buyer’s broker. If a  buyer’s broker is not available in your area, contact Raine and Horne. The 
team of professional real estate agents are  here to assist you throughout the process of selling 
and buying land in Victoria.
You will benefit from talking directly with the seller’s agent. Also, the entire search process will be 
simplified and you  can even ask questions to the listing broker.
To avoid any sort of conflict or any complicated situation from arising, it is better to ask queries 
about any doubts, if  you have.
Directly Buying Land In 
Victoria
Often the land is sold directly by the owner, or often by a developer who has bought a large 
parcel and subdivided  the land. With fewer middlemen, you can also get a better deal. However, 
you might have to be on your toes as you  might as well be dealing with a seasoned professional 
estate agent who would know a lot more than you do about  land and acreage. Selling or buying 
land in Victoria may seem an easy task but it is certainly not how it seems. There  are a lot of 
legalities involved, monumental amount of paperwork and a lot of professional negotiation.
To be able to get a fair deal, it is suggested to employ a real estate agent who specializes in 
buying and selling land in  Victoria. Contact Raine and Horne and let us get the work started. 
Drop us a line now!
GET IN TOUCH
Suite 2/263-329 Lorimer St Port Melbourne,3207
(03) 9052 5600
[email protected]
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