A national survey released by NeighborWorks America found that prospective homebuyers overwhelmingly turn to Realtors first when seeking information about the homebuying process — outpacing friends, family and online searches.

According to the poll, 41% of respondents who plan to buy a home in the next year — or are waiting for the right time — identified Realtors as their most trusted information source.

Friends and family, as well as internet search engines, were each cited as the top resource by 19% of respondents. Fewer turned to mortgage lenders (7%), government websites (5%) or nonprofit organizations (1%) as their first choice.

Realtors were the top selection for respondents across all ages and ethnic backgrounds, although preferences varied for select demographics.

Among Hispanic buyers, 24% cited friends and family as their most trusted resource — more than the general population. Fourteen percent of Black respondents said the same, compared to 21% of white buyers.

“These are sobering data points,” said Noelle Melton, vice president of homeownership programs at NeighborWorks America. “The real estate industry’s larger marketing budget and central role in the home search process are factors in their favor.”

While real estate professionals dominate as the go-to source, NeighborWorks emphasizes the critical role of nonprofit housing counselors — especially for first-time buyers.

“For first-time homebuyers, the guidance and support offered by nonprofit housing counselors can be essential to sustaining homeownership. That’s why we believe it’s in a homebuyer’s best interest to start their journey with a trusted nonprofit housing organization,” Melton said.

She added that housing counselors certified by NeighborWorks and the U.S. Department of Housing and Urban Development (HUD) often provide access to detailed information about down payment assistance, closing cost programs, credit improvement strategies and budgeting tools.

“Buying a home is complicated even for repeat buyers. A nonprofit housing counselor walks alongside a buyer nearly every step of the way and is even there after the purchase closes with advice on home maintenance and more, frequently at little or no cost to the homebuyer,” Melton said.

NeighborWorks organizations assisted more than 16,000 homebuyers in fiscal year 2024.

The survey was conducted by Morning Consult on behalf of NeighborWorks America across a sample of 2,201 U.S. adults ages 18 and older.

Australia’s four big banks Commonwealth, Westpac, NAB, ANZ. Picture: NCA Newswire

Borrowers are already banking on a July rate cut that hasn’t happened yet, and experts say that could cost them.

Headline inflation has dropped to 2.1 per cent, while the Reserve Bank’s preferred measure, core inflation, has fallen to 2.4 per cent — placing both back inside the RBA’s official 2-3 per cent target band for the first time in years.

The result has seen two of the big four banks — CBA and NAB — shift their forecasts to tip a cash rate cut as early as July 8, while Westpac and ANZ still expect a move in August.

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But brokers and market watchers warn some Australians are jumping the gun, locking in decisions on the assumption that lower rates, and bigger borrowing power, are guaranteed.

Canstar data shows a 0.25 percentage point RBA cut would reduce monthly repayments on a $600,000 loan by about $90.

A $1m loan would fall by $150 a month, assuming banks pass on the full reduction.

For borrowers with three or four cuts by mid-2026, those savings could rise to $265-$350 per month.

Even a 0.25 percentage point cut could shave up to $150 off monthly mortgage repayments on a $1m loan, according to Canstar.

But Canstar group executive of financial services Sally Tindall said borrowers shouldn’t assume anything just yet.

“Today’s monthly CPI results, while only an indicator, leave the door wide open for the RBA to cut the cash rate in July,” Ms Tindall said.

“The fact that the Board considered the case for a double cut at the last meeting gives us good insight into its thinking and suggests it will almost certainly consider the case for a cut at the next one.”

Ms Tindall said the numbers put the RBA in a strong position, but cautioned against overconfidence.

“Headline inflation is now just a fraction off the bottom of the central bank’s 2 to 3 per cent target band, while core inflation is now under the halfway mark at an annual rate of 2.4 per cent.”

“While the data opens the door to a cut in July, borrowers should not consider it a done deal. The Board could opt to wait for the full quarterly CPI results, which aren’t out until the end of July.”

Canstar Data Insights director Sally Tindall says inflation has re-entered the RBA’s target range, but borrowers shouldn’t assume a rate cut is locked in.

Zippy Financial principal broker Louisa Sanghera said many of her clients were already asking what the cut would mean for them, and in some cases, adjusting their budgets too soon.

“Even a 0.25 percentage point cut can make a big difference, especially when you consider how large the average mortgage is these days,” Ms Sanghera said.

“But people are always dreaming bigger than their budgets. We’ve had clients circling back with ambitious goals, bigger homes, investment properties, and asking if the changing rate environment will get them over the line.”

Zippy Financial’s Louisa Sanghera says clients are circling bigger homes and investment properties on the assumption that cuts are coming.

Ms Sanghera said some borrowers were pausing refinancing or delaying major decisions, waiting for the RBA to make its move.

“There’s a real sense of people sitting on the edge of their seats, ready to jump if rates go down,” she said.

“If the deal stacks up today, go for it. If it’s borderline, then sure, wait and see what the RBA does in July. But I personally don’t think a cut is guaranteed.”

The Zippy Financial principal broker said some banks were already being proactive, repricing loans or negotiating harder with existing customers.

“Most of our clients are able to get their rates repriced just by asking, and we do that regularly for them,” Ms Sanghera said.

Belle Property/Hocking Stuart state director Anthony Webb says even talk of a July rate cut is fuelling new buyer momentum ahead of spring.

Belle Property and Hockingstuart Victoria and Tasmania head Anthony Webb said the mere anticipation of a cut was already shifting buyer behaviour.

“There’s growing optimism, particularly as we head into the second half of the year, that a July cut could help us build toward a more robust and active spring selling season,” Mr Webb said.

Mr Webb said first-home buyers were the most responsive group, particularly those with tight borrowing constraints.

“They’re the most sensitive to changes in borrowing power, and even a small reduction can give them that final push to enter the market,” he said.

“Some people think a small rate drop suddenly means they can afford a much bigger home — but in most cases it gives them a few thousand dollars extra at best.”

Mr Webb said regional areas like Bendigo and Geelong were already heating up, while metro Melbourne remained patchy.

“Bendigo is flying, properties are moving quickly and confidence is high. Geelong is also gaining momentum. Metro is still stop-start,” he said.

Apollo Auctions director Justin Nickerson says buyer behaviour is already shifting, with more turning up ready to bid as confidence builds.

Apollo Auctions director Justin Nickerson said auction behaviour, particularly in Brisbane, had already shifted, even without a confirmed rate cut.

“We’ve seen a mini-surge in buyer activity off the back of previous rate cuts, and I expect we’ll see a similar reaction again,” Mr Nickerson said.

“Back then, buyers were circling properties but hesitating.

“Now, more of them are putting in offers pre-auction or turning up ready to bid on the day.”

Mr Nickerson said that even a small change in sentiment could shift the market quickly.

“It’s not just about confidence, it also boosts borrowing capacity, even if only marginally, which can be enough to nudge someone from interest to action,” he said.

But, the Apollo Auctions director said spring wouldn’t be a repeat of the pandemic-era boom.

“That year was a perfect storm, record-low interest rates, stimulus, low stock levels, and a wave of buyer urgency all hit at once,” Mr Nickerson said.

“I do expect spring to be strong, but not ‘2021 strong.’”

RBA rate speculation is already changing how Australians budget, borrow and buy — but experts warn not to get ahead of the curve. Picture: NCA NewsWire / Roy VanDerVegt

Ms Tindall said borrowers hoping to capitalise on a future cut should act now to understand their position, not after the cut arrives.

“If you’ve got a mortgage, spend the next couple of weeks making sure your interest rate is as low as it can be,” she said.

“That way you’ll be in pole position to benefit from both the RBA’s relief and any extra your bank is willing to hand out.”

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Nabbing a rental property has become increasingly difficult, but some Aussies are making money by helping others attend inspections.

Adam Walker, 29 from Dee Why in Sydney’s Northern beaches, has made well over $2500 since joining outsourcing company Airtasker 18 months ago, carrying out more than 50 inspections for those who can’t attend themselves.

“I work in the removalist industry, so for me it’s kind of a thing I do in my downtime,” he said.

“The majority of my inspections are midweek, so a Monday or a Wednesday, but there are also agents who do by appointment only where I’ll have the whole place to myself.

“Depending on the client, I could take photos of the inside and the outside. I also take video from the street and entrance of the building and a detailed video of the insight of the building.”

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Airtasker Adam Walker inspecting a unit in Sydney.

Mr Walker said he charges $50 per inspection but the average task price – according to Airtasker – is between $40 and $200, with prices varying depending on how many inspections the user needs completed.

“One of my regular clients gets me to do around 6 (inspections a week),” he said.

“(And) one of my clients I work for, they have a business where they help people find homes to tend to book a bunch of people to do inspections.

“So it’s a good side income…and helps people (find a home) who might be working full time during the week but I also had clients who were overseas or have been away.”

Mr Walker’s advice for others looking to follow in his footsteps is to bring a can do attitude.

“If you want to get into this full time or even just as a side hustle, you really got to look for the work,” he said.

“You also have to put yourself in the shoes of your clients. Imagine you were inspecting your own home.

“You’d want to look presentable and I also, most of the time, check in on behalf of the (client) or say who I’m there for so they can tick that name off their list.”

New Airtasker data revealed paid rental inspections jumped by 105 per cent over the past year, with the highest demand in Melbourne, followed by Brisbane and Sydney.

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Airtasker can apply for as many jobs as they want, making – on average – $50 per inspection.

Airtasker Founder and CEO Tim Fung said tightening vacancy rates had propelled demand for paid property inspections.

“With low vacancy rates and high demand, it’s sometimes difficult to get to inspections, especially when working full-time, or trying to secure a place before relocating. This is where the power of the Airtasker community comes in,” he said.

“People are using Airtasker to get help with on-the-ground rental inspections as Taskers will physically go to a property, take photos, do a walk-through, sometimes even jump on a video call so the renter can get a real-time look. It’s become a valuable way to level the playing field, especially for people interstate or overseas, or just too time-poor to make it to every single open home.”

Mr Fung adds there was no cap on how many inspections an individual could complete each week, leaving the door wide open for making serious money on the side.

“We’re seeing some Taskers double down in this category, building up a bank of customers wanting their inspection services, especially in high-demand cities,” he said.

“Others might do one or two here and there to earn some extra cash.

“Taskers can take on as many or as few jobs as they like, and people can choose someone who’s got the time and availability that suits the customer.”

The post Rent crisis: Aussies paying people to attend inspections appeared first on realestate.com.au.

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