Agent Spotlight: Barry Pound, licensee/director, Buyer’s Agent Online

Even after 35 years of working in real estate, Barry Pound is still energised by the industry’s opportunities.

Recognising the rising demand for buyer's agents, Barry launched a company with his son Mathew in 2023 to meet the needs of today’s market.

We spoke with Barry about his beginnings in the Pilbara, his journey to becoming a buyer’s agent, and his passion for ensuring buyers – and sales agents – understand their value.

How did you get involved in real estate?

I entered the industry in 1987. My background is in traditional real estate (we had four LJ Hooker offices from Port Hedland to Fremantle) and owned and operated two major conveyancing companies. I merged the conveyancing companies into a law firm and started Buyer’s Agent Online (BAO) with my son Mathew (pictured below and founder of the Varsity group here in WA) in early 2023.

With the resurgence of buyer’s agents over the past 2-3 years, on the back of buyer’s agents from the east buying property in WA, we realised this was a growing industry and we wanted to see if we could capitalise on that.

How do buyer’s agents make the purchasing process easier?

Just as you wouldn’t go to court without a lawyer, it’s wise to have a buyer’s agent represent you in property transactions.

We work solely for the buyer, unlike selling agents who are paid by and work for the seller.

We help people who are frustrated because they can’t buy, haven't been able to buy in this tough market or they are just time poor.

A buyer’s agent can offer significant value, especially in navigating challenging market conditions. For instance, we recently assisted a Karratha-based couple in purchasing a high-value property in Busselton – a complex process that they wouldn’t have managed as efficiently without expert help.

Can you give me a quick rundown of your journey to become a ‘formal’ buyer’s agent?

By default, I have been a buyer’s agent acting for many Pilbara families relocating to Perth over the years.

We now have a growing business and are developing a technology platform for buyer’s agents to plug into.

Is there a misconception that buyer’s agents are only for the wealthy?

That’s a common misconception, but it’s not true.

Buyer’s agents are for everyone. Just as financial advisors aren’t exclusive to the wealthy, a buyer’s agent can assist anyone, including first-time buyers.

Our role is to guide clients through the entire process, ensuring they make informed decisions that align with their goals.

It’s also about making sure clients get the right advice, much like you’d expect in any other professional service.

What are other misconceptions about buyer’s agents?

I’m not asking the selling agent to share their commission because I am on a retainer. Their commission is not going to be affected in any way. So, we need selling agents to understand why they should be working with buyer’s agents.

One of the main challenges is educating buyers and selling agents about the benefits of using a buyer’s agent. There’s still a significant gap in understanding how we can add value, especially in complex markets like Perth.

Where we become a value to selling agents is when they have situations like dormant listings. Smart agents will notify a buyer’s agent about stock they can’t sell and team up with a buyer’s agent to create a sale.

I’ve got buyers, they’ve got sellers.

What do you love most about your job?

I enjoy making the transaction happen. I’ve operated on both sides of the industry and the expectations of the seller can be hard to manage sometimes. But the joy of a happy buyer is much more fun.

As a buyer’s agent, my listings are everybody else’s listings. There is also a lot of knowledge in off-market listings that buyers wouldn’t know about from an internet search.

What advice would you give to someone considering a career in real estate?

My main concern is the rise of courses that fast-track people into becoming buyer’s agents without proper registration or training.

It’s crucial to go through the necessary channels, including obtaining a licence and working under a training certificate holder to gain the experience needed to operate professionally.

There’s a lot more to being a buyer’s agent than just taking an online course, and it’s important to enter the industry with the right qualifications and mindset.

Do you think buyer’s agents have become more prominent as the Perth market has grown?

Absolutely. The role of buyer’s agents has become more accepted as the market has expanded. In the US, the industry is balanced between buyer’s and selling agents, whereas in Australia, there are still relatively few buyer’s agents compared to the vast number of selling agents.

I believe this is set to change as more people recognise the benefits of having dedicated representation on the buyer’s side.