Considering a permanent return to Australia and need somewhere to live? Looking to invest in the Aussie property market? Engaging a buyer’s agent can make all the difference to your purchase.
What’s more, Aussie expats are in a particularly tricky position given they’re often unable to be on the ground in Australia. Particular rules apply to expats, including tax implications and financing.
This is why it’s worth opting for a dedicated Australian expat buyer’s agent, like us here at Milk Chocolate. We provide purchasing guidance and services tailored to our overseas clients’ unique circumstances.
Here are seven reasons why, as an Aussie expat, you should use a buyer’s agent when buying property in Australia.
1. You’re busy
Many buyers – including expats – engage a buyer’s agent because they simply don’t have the capacity to navigate the purchase themselves.
There’s a lot that goes into buying property, from trawling through online listings and attending inspections to going through negotiations or bidding at auctions, wading through a sea of paperwork and, finally, settling. The process inevitably takes a considerable amount of time and energy, and as an Australian expat, you’re already handling a high-pressure job, living abroad and, potentially, a family.
A buyer’s agent can handle the purchasing process from start to finish, allowing you to focus on other things. And a full-service company like Milk Chocolate can take things even further, offering planning, purchasing, construction and property management via our in-house team.
2. You’re overseas
A good reason to engage an Australian expat buyer’s agent specifically? The purchasing process is made even harder when you’re living abroad. You’re not on the ground, which means you’re unable to attend inspections and auctions yourself. And, you may not have local contacts who can undertake these tasks on your behalf.
An Australian expat buyer’s agent can offer as much of an ‘on-the-ground’ experience as possible without you needing to actually be on the ground.
While many online listings now include virtual tours, you’re often only given a generic video that gives a broad overview of the property. But a buyer’s agent can take you on a personal tour of the home, either by helping you ‘attend’ an inspection via video conference or by providing a suite of photos and videos to explore at your leisure.
When it comes to auctions, they can attend on your behalf and act as your representative come bidding time.
Even better? Milk Chocolate’s very own digital platform – the Milk Bar – lets you manage the purchase from the palm of your hand.
The Milk Bar is an all-in-one app covering the entire purchasing process, from onboarding and understanding your property goals to settlement and property management. Your access is tailored to your unique property journey, letting you view all the crucial details about your properties.
You can check out financial modelling based on your property goals, get real-time search updates, see recommended suburbs and property shortlists, progress through exchange and settlement, and manage your investment properties from afar.
So, no matter where you are in the world, you’ll be about as hands-on as someone buying locally.
3. They understand the local market
Like any property market around the world, the Australian market has its own peculiarities.
Every capital city is as unique as the next, and even at a suburb level, there are marked distinctions that only a local would know. There are huge differences between buying in cities and regional areas, and there can even be intricacies to the negotiation process that require a local’s insight.
As well, there are consistent policy and economic changes that affect the Australian property market as a whole and the buyers within it. And that’s not to mention the particular challenges that affect Australian expats, including the tax implications of owning property in Australia and organising financing from overseas.
If you’ve been living abroad for more years than you can count and feel out of touch with the Australian property market, our buyer’s agents can help you navigate it. They can also break down complex concepts so you’ve got a better understanding of what you’re buying into.
4. They can find the very best property
Once you’ve made a shortlist of potential properties, how can you tell which one – if any – is worth buying? It’s especially difficult making this decision when you’re limited to an online listing and are unable to inspect the property in person. For example, a home may look totally different in the flesh, or there may be structural flaws that make it a dud.
If you’re after a new home, our buyer’s agents will work to understand exactly what you’re looking for – from aesthetic to location. They’ll then uncover a selection of properties that meet your needs and ensure they pass all the regular inspections.
If you’re investing in the Australian market, they’ll gauge your situation and future goals, then determine a property that’ll help you achieve these. Our buyer’s agents also have access to a wealth of data to inform buying decisions, which, for you, can mean increased ROI.
5. They can negotiate a better deal
The process of actually buying a property – that is, negotiating a price or bidding at auction – can be challenging. It might seem as straightforward as making an offer and (hopefully) having it accepted, but often it requires a lot of grit and gumption to negotiate effectively for the best outcome. Particularly if you’re buying a new place to live, there may be the added pressure of it being an emotional decision, which can result in paying an inflated amount.
A buyer’s agent’s job is to act on your behalf throughout the negotiation or bidding process. Their understanding of the local market will mean you don’t pay beyond a fair price, and their impartiality removes any emotion from the process. Often, you’ll secure a better deal for your property.
6. We can optimise your purchase through our in-house construction team
You don’t always need to buy a property in move-in ready condition. While they may not look like worthy purchases on the surface, many properties can be enhanced through smart upgrades – be it a cosmetic or structural renovation, extension, rebuild or subdivision.
Sometimes, though, it can be hard to discern which properties can be optimised through construction and which aren’t worth pursuing. But our buyer’s agents know what to look for in a property and have the backing of our in-house construction team to ensure it’s a sound purchase, even if it needs an update.
For example, if you’ve got an investment property that’s structurally sound but severely dated, they may advise a thorough renovation to appeal to prospective tenants.
If you’ve found your dream block in your dream location, we might recommend knocking down and rebuilding the property to transform it into your dream home.
Or, if you’ve got a large block of land and want to get the most bang for your buck out of it, they might suggest subdividing it.
7. We provide complementary services and have strong industry contacts
Our buyer’s agents don’t work in isolation. They’re part of a wider in-house team that works across the property life-cycle, including property managers, designers, builders, legal services, economists, maintenance services and more. This means that by engaging a Milk Chocolate buyer’s agent, you can connect with several reputable experts without needing to research or locate them yourself.
If you’re purchasing an investment property, we have in-house property managers who can rent out your property and oversee your tenants. If you want to build a new home for your family, we have our own upgrade and construction team who can bring your property to life.
And if you’re making any kind of property purchase in Australia, you can be assured that your acquisition is backed up by the expertise of a robust and broad property team.
The benefits of using an Australian expat buyer’s agent can’t be underestimated. If you’re looking for a local buyer’s agent with unparalleled knowledge of the Australian property market, a wealth of purchasing experience and a team of in-house economists, valuers, designers, builders, property managers and project managers, look no further than Milk Chocolate.
The Milk Chocolate team can help you navigate your next family home or investment property purchase with ease and ensure it ticks every single one of your boxes.
Disclaimer: All data and information provided on this site are for informational purposes only. Milk Chocolate makes no representations as to accuracy, completeness, recency, suitability, or validity of any information on this site and will not be liable for any errors, omissions, or delays in this information or any losses, injuries, or damages arising from its display or use. All information is provided on an as-is basis.