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The Bank of Mum & Dad doesn't always know best.

Written by Posted On Thursday, 10 May 2018 17:25

THE BANK OF MUM AND DAD DOESN’T ALWAYS KNOW BEST

FIRST 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 Steven from UBA 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,” Steven 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
said.

“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.


Steven Piper
Universal Buyers Agents

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