How can you can help answer the top 3 questions first home buyers are asking without putting yourself at risk?

Buying a home is a significant milestone, but for many first-time buyers, navigating the complex world of real estate and securing the necessary financing can be an overwhelming task.

Thankfully, finance brokers have proven to be invaluable allies for first home buyers, offering your expertise and guidance to help make the dream of homeownership a reality. You play a crucial role in assisting first home buyers as you facilitate an important part of process. But there is a whole lot more first home buyers need to know to get that all important first purchase right.

One of the primary benefits of working with a finance broker as a first home buyer is the access to expert financial guidance and education. Brokers possess extensive knowledge of the real estate market, mortgage options, and government schemes specifically designed to assist first home buyers. They can explain the intricate details of the lending process, the types of loans available, interest rates, repayment options, and potential hidden costs.

If you can guide your first home buyers in the right direction, and they get that first step on the ladder right, then the second third and fourth purchase will happen more quickly, leading to more repeat clients for you.

First home buyers need more help from you than just pre-approval and access to Grants. But how can you help them without putting yourself at great risk of providing property or personal advice?

The 3 most common first home buyer questions are: How much can I afford? Where should I buy? And how much should I pay?

Apart from their parents, finance brokers are the main people first home buyers seek answers from. It makes complete sense. You are their trusted advisor, the number one person who can help them on the pathway to success.

Your superpower is helping first home buyers answer the first question – how much can I afford.

Getting that part of the process right involves a lot of steps. You are helping them to become financially fit so that bank will view them favourably, as well as providing tips about how to save, what grants and incentives are available and what changes they can make to improve their borrowing capacity. Then what documents they need, what the current lending policies are, which lender has the right product for them. As their trusted advisor you are there to guide them through this process.

Organising their finances is a small but vital part of the home buyer journey. But there are so many other steps they must take, and take in the right order. So how can you help them answer the other 2 questions – where to buy and what to pay - without overstepping the mark and providing misleading advice?

By connecting them with the right education and the right team of advisors.
Beyond mortgage assistance and understanding the grants and incentives that are available, good finance brokers have established networks within the greater real estate industry. Through your networks you can provide valuable recommendations for other professionals required during the home buying journey, such as solicitors, building inspectors, buyer's agents and insurance providers.

This network of trusted experts ensures a smoother experience for first home buyers, minimizing potential roadblocks along the way. And most importantly ensuring they avoid buying a lemon or making rookie mistakes.

Importantly you can help them to become educated home buyers by getting the right information from the right source.

There is great power in understanding the step-by-step home buying process and it starts with understanding themselves, their needs and their compromises. It involves assembling their team of expert advisors, working out where to buy, how to inspect properties and deal with agents, what due diligence they need to do, how to work out what to pay and how to play the auction or negotiation game. At the heart of it first home buyers need to ensure they buy a good quality asset so they have a solid foundation so they can continue to build their property portfolio.

Founded by 2 of Australia's most experienced Buyer's Agents, Veronica Morgan and Meighan Wells, Home Buyer Academy have created the definitive online self-paced course for First Home Buyers- Your First Home Buyer Guide.

This step-by-step process guides first home buyers through all 10 phases in the home buying journey in the right order as well as weekly live Q&A sessions - with no BS and no agenda except to educate First Home Buyers so they can get that first home without making a mistake.

As their trusted advisor, this is how you can really help them learn how to make good property decisions without putting yourself at risk of providing advice outside your area of expertise.

We liken the first home buyer journey to climbing a mountain. You have to have a plan, get the right people around you, have a map to keep you on the right path and be aware of the dangers ahead so you don't make rookie mistakes. And as their finance broker you are a big part of that trusted team.

Learn more about how you can partner with Home Buyer Academy to help educate your first home buyers on how to buy the right property so they can move onto their second third and fourth purchase more quickly, and earn extra income along the way.

Together, we will help home buyers become educate and make better property decisions.

Veronica & Meighan