Home buyers can land themselves in hot water by trusting the bank of Mum and Dad with property advice, instead of seeking help from experts.
Buying agents are becoming in hot demand as millennial home buyers turn to experts such as Universal Buyers Agents to save time and money in the competitive property market.
The so-called bank of Mum and Dad has become, for many millennials, the only route into home ownership, but UBA director Darren Piper warns they may not be the be-all and end-all when it comes to property advice.
“We’re seeing a lot of first home buyers and younger home buyers relying on Mum and Dad to get a foot in the door,” Mr Piper said.
“But unconsciously they may not be providing the best investment advice.
“The market has changed a lot since they may have purchased a home, they may have bought investment property for a different purpose and if their own money is at stake they may be more risk adverse that is necessary to succeed in the market.”
“Historically buying agents have been out of reach of many home buyers, but with our lower fees and new commission structures agents are now within reach of the middle market giving many more buyers the chance to have someone in their corner taking on greedy estate agents and fending off other buyers,” Darren Piper said.
Whether it’s sourcing homes that never reach the market, making sure a prospective property tickets all the right boxes or providing advice on the best return on investment, buying agents are a handy tool for those looking to stake out a position in the property market.
“A buyer’s agent is about finding the best deal for you. We can save buyers thousands,” Mr Piper
“There’s no need to spend your Saturday’s pounding the pavement when you have someone in your corner doing the hard work for you.”
Mr Piper said that where sellers have long had the advantage of real estate agents to secure a higher price for their property, buyers have been typically been left to fend for themselves.
“Buying a property is the biggest purchase most people will make in their life time, we’re there to make sure they can get in the market, but do it in a way that they aren’t left short-changed,” he said.