What's the difference between a buyer's agent and a real estate sales agent?

Sales agent: contracted by the vendor under a standard agency agreement (sole, exclusive, or open). Earns commission ~1.5-3% of sale price. Maximum disclosure obligation is set by state Fair Trading rules, but their loyalty is fiduciary to the vendor. They cannot represent the buyer simultaneously (NSW Fair Trading explicitly bans dual agency without informed written consent).

Buyer's agent: contracted by the buyer under a separate agency agreement. Earns engagement fee + success fee, typically 1.5-2.5% of purchase price (or fixed retainer). Their fiduciary duty is to the buyer, they negotiate against the sales agent. REBAA-accredited buyer's agents follow a Code of Conduct + carry PI insurance for buy-side advice.

What they share: both must hold a Class 1 or 2 estate-agent licence in NSW (or equivalent). Both can attend auctions, negotiate contracts, source comparable sales. The difference is who they represent + who pays them.

When to use a buyer's agent: out-of-state purchases (you can't tour properties yourself), high-pressure markets where you need someone in the room at every open inspection, complex negotiation (off-market, sunset-clause development, multi-property purchase). When NOT: simple owner-occupier purchase in your home suburb, you have time to do your own research, the engagement fee outweighs the time-savings + price-negotiation skill differential.