Ep.124: Examining the Traditional Buyer’s Agent Model in Australia, with Scott Aggett. Part 1

In this week’s episode of the Geared for Growth podcast, host Mike Mortlock welcomes Scott Aggett, the Founder of Hello Haus and an expert property negotiator, for the first part of an unfiltered discussion on the current state of the Buyer’s Agents model in the Australian property market.

The surge of new entrants into the Buyer’s Agents market post-COVID has raised significant concerns for Scott. He argues that the model, as it stands, is fundamentally flawed. Scott questions the value for money that these new operators bring and highlights the risks posed to consumers due to the limited transparency and accountability within the industry.

Scott’s unique perspective is shaped by his experience on both sides of the property fence—initially as a sales agent and later in the Buyer’s Agent space. This dual background positions him well to ignite a healthy debate on this critical issue. Scott elaborates on why he believes consumers should be cautious about the promises made by newcomers to the market. While he acknowledges the presence of many strong performers who deliver great value to their clients, he expresses concern that their reputations are at risk due to the actions of less experienced operators.

This conversation between Scott and Mike takes a balanced approach to this contentious topic. They explore the issue of fees, providing concrete examples to illustrate the disparity between the rates charged and the benefits provided to consumers. Scott emphasizes the significant responsibility involved in negotiating substantial sums of client money and stresses the importance of prioritising the client’s interests at all times.

Whether you are a real estate professional engaged in transactions or an investor seeking a better understanding of the role of Buyer’s Agents and the fees involved, this episode is essential listening. This two-part series sheds light on a growing sector of the property market and outlines the steps needed to ensure positive outcomes for all parties involved.

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In this week’s episode of the Geared for Growth podcast, host Mike Mortlock welcomes Scott Aggett, the Founder of Hello Haus and an expert property negotiator, for the first part of an unfiltered discussion on the current state of the Buyer’s Agents model in the Australian property market.

• Looking at the Buyers Agent model from the consumer point of view
• The problem with the regulations and qualifications for Buyers Agents
• The need for greater transparency and accountability around value of money
• Can entry level Buyers Agents really deliver on the marketing hype?
• Making sure the consumer’s best interest are covered
• Negotiating is a learned skill that needs to be taught under expert supervision
• With so much money at stake, do consumers really understand the risks?

“There’s an issue with value for money…Negotiating that value back in, potentially saving that money, where’s the accountability and the transparency around who saves money and the quality of the negotiation that goes into it. I would question that” 3:59

“It’s about the wave of new entrants into this market and a lot of the businesses that have built really what I would call the Instagram buyers agent model. They’re heavy on the marketing, less so on the customer service on the back end and less on the transparency and accountability” 4:40

“I could easily talk you into paying an overinflated price to put you in a position where you’re emotionally invested and you get the deal done and I get paid. Not only do I get paid I get paid even more because the more you spend the more I get paid it’s just completely misaligned so I’ve got a problem with that” 8:28

“You can’t fundamentally learn the art of negotiation unless you just sat there in that chair and practised and practised and practised and I’ve done circa 4000 transactions but I probably missed another 4 or 5000 over that time, you go through that learning curve”13:42

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