Which professionals do you need in your corner when buying a home?

Our guide to open homes

If you’re gearing up to attend your first open homes, it can feel a bit nerve-wracking. Many first-home buyers feel worried about saying the wrong thing or not knowing how to answer the agent’s questions.

Let’s go through what to expect and how to handle these conversations like a pro.

What the Agent will typically want to know

They want to understand where you’re at in your property buying journey, how much your budget is, and if the property is a good fit for what you’re after. Some questions they might ask:

• How long you’ve been on the hunt and how many properties you have viewed.
• Which areas you want to live in.
• What features matter most to you (like number of bedrooms, outdoor space, or location).
• What’s your budget or price range.
• Are you working with a Mortgage Adviser and do you have pre-approval.

How should you answer?

Remember the agent works for the seller, not you. You can be honest without revealing everything, especially when it comes to your maximum budget.

Give a range that’s slightly lower than your max. For example, if you can stretch to $800,000, say you’re looking in the $700,000 to $750,000 range. This gives you wiggle room for negotiations later.

Turn the question around. Maybe ask, “What price range are the owners expecting?” This way, you get information before sharing yours.

Keep it general. Simply say, “We’re pre-approved and comfortable with properties at this price level.” Short, confident, and doesn’t give too much away.

Show you’re serious

Mentioning you’re working with a Mortgage Adviser and have pre-approval in place can really help. This immediately tells the agent you’re a serious buyer who’s ready to move when the right property comes along. It gives you credibility without having to share specific dollar amounts.

Don’t forget to ask them questions!

Gathering information through questions will show you’re informed and will help you understand if the property is right for you.

• Why are the current owners selling?
• How long has the property been listed?
• Have there been any building inspections or issues found?
• What settlement timeframe are the owners looking for?
• How much interest have you had from other buyers?

How can a Mortgage Adviser help?

Before you start seriously house hunting, we can help you. The best time to chat is before you start attending open homes. That way, we can discuss your specific situation, get your pre-approval in place, and even practice some responses together.

Step one: We can get your pre-approval sorted

• Work out exactly how much you can borrow by looking at your income, expenses, and overall financial picture.
• Compare products from multiple lenders to find you the best rates and terms for your situation.
• Help you navigate all the lending rules and requirements, which seem to change regularly.
• Put an application through that shows you in the best light so you can get the best outcome for your situation.

Step two: We are here throughout your journey
Getting pre-approval is just the start. We’’ll be with you every step of the way:

• Quick assessments of specific properties before you make an offer
• Working alongside your solicitor during the due diligence period
• Coordinating your final approval once your offer is accepted
• Support through settlement and even after you’ve moved in.

READY FOR A CHAT? 

Not all professionals are of an equal calibre, and it can often be a case of ‘you don’t know what you don’t know’. Your Mortgage Adviser should be your first port of call, helping you bring everything (and everyone) together. If you have any questions about getting a mortgage, any one of our Mortgage Advisers will be happy to help make the process easy for you, and make introductions to local professionals that we are prepared to recommend and stake our reputation on. For a no-obligation chat, contact us today. 

Photo by RDNE Stock project.