Don’t try to buy a home alone
Many buyers set out to buy a home with the impression that the real estate agent is the ‘enemy’.
This couldn’t be further from the truth.
In reality, real estate agents are there to provide a win/win situation for the seller and the buyer. They can’t achieve a good outcome for the people selling the home unless they have the enthusiastic (and literal) buy-in from the people who want to buy it.
If you are seriously in the market for property, it makes sense to build relationships with local real estate agents as well as some other providers. Here are some of the people you will work with when you buy a home or investment property:
The people who help you buy a home
Your real estate agent
Your real estate agent should be all but your best friend when you are on the hunt for property.
Think of this expert as being like a matchmaker whose job it is to connect you with your dream home. As already mentioned, they are representing the seller but they can’t achieve an outcome without buyers like you involved.
Reach out to a few local operators and be specific about what you’re in the market for. Talk about your budget and what you hope to achieve, be it a family home, a starter apartment or an acreage in the country. When a home that meets your requirements comes on the market, you’ll be one of the first people to know about it and may even be granted early access, ahead of other buyers.
A fast sale is a good one in real estate so if you have the right relationships and demonstrate that you’re purchase-ready, you’ll put yourself ahead of other buyers.
Your mortgage broker
While your agent helps you find your dream home, your broker is there to help you pay for it.
Again, their job is to find the best solutions for you. You need to share your plans and your position with them so they can find you the best deals.
While all decent brokers will do their best for you, having a quality relationship will inspire them to go the extra distance to help you buy a home. This includes going into bat for you with lenders and ensuring you get pre-approval quickly.
Ideally, this will be a long term relationship. Your broker will be able to let you know when you have paid off enough of your original home loan or built up enough equity to finance an investment.
Your conveyancer
A conveyancer helps you buy or sell a house, flat, land, commercial building, or any other type of property. They will take care of the legal side of the transaction, including preparing contracts and reviewing them in detail.
Without a conveyancer, you risk overlooking a detail in the contract that will potentially cost you money. For a small investment, you can be saved a great deal of stress.
Your community
Not all properties are publicly advertised. Getting to know the local community, especially if you are moving suburbs, can be helpful when trying to buy a home.
Join Facebook groups and ask around. People are much more open than you might think, and you could get some good leads (even if it is just people recommending the best real estate agents).
If you come across a private sale, tread very carefully. Bringing someone on board to at least help you negotiate is a wise move.
Final words
It takes a village to buy a home. Remember, your real estate agent is an essential team member with the power to connect you with your dream home sooner.
Most real estate agents are in the industry because they love making connections, getting to know people and creating those perfect matches. They can’t help you unless they know what you want so have some honest discussions and you’ll make a friend for life.
