17 December 2025
By Katrina Creer
Providing personal details is standard practice at open inspections, allowing agents to track who has walked through the property and follow up with prospective purchasers. But this information is potentially a gold mine for an inexperienced buyers’ agent looking for a lead.
The value of Open for Inspection lists (OFIs) has not been lost on some agents happy to share the information with a third party for a price or in exchange for a referral fee.
When collected with consent and in accordance with privacy laws, such data can provide a valuable service for a buyer who may not have considered engaging a professional to assist with their house-hunting. But more likely, the information is obtained without permission and results in an unexpected call from a stranger offering their services.
A negative impact
Oliver Stier, a member of the REINSW’s Buyers’ Agents Chapter Committee, believes such practice is damaging to the industry because it erodes trust.
More than once, he has taken calls from buyers’ agents marketing their services, completely unaware that they were pitching to an industry professional and not an unsuspecting home buyer.
“I could have attended 40 to 50 inspections for a client in an area, so it can be hard to work out who has shared my details, although I do always ask out of curiosity,” said Mr Stier, Director and Licensee-In-Charge of the OH Property Group.
“The consensus in the industry is that OFIs should not be sold unless specific steps have been taken to ensure agents follow the Privacy Act 1988. This means clearly informing people, either in writing or verbally, with the ability to opt out.
“I go to open homes all the time, and I have never seen anything visibly posted or been asked permission in my 17 years as a professional buyers’ agent.”
Keeping an eye on data
Catherine McGowan, director of McGowan Property Buyers, has also received unsolicited calls from buyers’ agents marketing their services after attending open inspections for her clients.
Mostly, it is inexperienced buyers’ agents on the other end of the phone, and she is keen to point out that it is against best practice and the industry’s Code of Conduct*. She believes some principals and licensees may be unaware that data is being passed on to a third party.
“There are young associates who can move agencies and take OFI lists with them, so it raises questions about how this information is being stored, recorded and who has access,” said Ms McGowan, who is also a member of REINSW’s Buyers’ Agents Chapter Committee.
“It is not how you generate business, nor is going to open homes or auctions and sidling up to potential clients. It is different if an agent knows someone who is struggling to find a property and suggests your services. In this case, it is up to the buyer to make contact, so it is on their terms, and they are agreeable to the process.”
However, some agents may expect to be paid a ‘referral fee’ in return for such a recommendation if it leads to a property sale. But Ms McGowan believes such an arrangement can ‘muddy’ the water, saying it sits in a grey area in terms of legislation. Instead, she believes there are other ways to support each other.
“We don’t get as many referrals as you may think because most real estate agents want to ‘own’ the buyer and can be reluctant to pass them onto someone else,” she said.
“If a referral fee is to be paid, then it should be transparent, and the client needs to know about it.”
Build other connections
Brady Yoshia from Brady Marcs Buyers Advisory agrees agents need to be upfront about referral fees, which can equate to as much as 20 per cent of the buyers’ agent’s commission.
While she has never been offered an OFI list, she is aware that such information is being traded within the industry.
Also, a member of the REINSW Buyers’ Agents Chapter Committee, she is concerned that purchasers are unaware simply signing in at the door of an open home can lead to their personal information being passed around behind the scenes without consent.
Instead of taking a shortcut to find new clients by using an OFI, Ms Yoshia believes buyers’ agents should do their own marketing through social media or networking with mortgage brokers, conveyancers or sales agents. But in her experience, the best referrals come from past clients.
“Buyers’ agents are becoming more popular, the general public now understands what we do and how we can assist, but it was very different when I started 13 years ago,” Ms Yoshia said.
“It is so much harder to find a property today, due to the high demand and low stock levels. There is a lot of buyer fatigue, so people are much more open to using a professional not just to show them a property and handle negotiations, but to utilise our contacts to find off-market listings.”
*This is the code in the Property and Stock Agents Regulation.