Nick here! – i thought i would discuss ‘buying agents’ with you.
what is a ‘buying agent’ …. well, its simple. its an american way of doing things to a certain extent. when buying a property in america (and possibly other countries) you can appoint a Estate Agent (or real estate agent as they are sometimes called) to assist you in buying a property. so why not do it over here?
For years the property industry in the UK has been tough for the general public to understand, general education to consumers in the industry is awfully low, policing of the good and bad agents is to be desired and overall its hard to know what is right and what is wrong within the industry… and therefor you trust is put in the estate agent you are buying through….
BUT – when you call to view the property, the agent you are speaking to is working for the seller. that is who their client is after all. so when this agent give you as the buyer ‘advise’ on what to offer or encourages you to increase an offer, how do you know they are not doing it just to gain a few extra £’s commission? because surely if they were giving you truthful advise wouldn’t this be a conflict of interest for their client? ….. this is where (drum roll please!) YOUR ‘buying agent’ comes in.
As a buying agent they work independently for you as the buyer, no matter on your position, you could be a 1st time buyer, 5th time buyer, landlord or even a builder looking for a project. They can advise you as to pricing using research and experience. they will go on viewings with you, help you know what to negotiate on (if you want to do it yourself) OR even negotiate on your behalf if you prefer. with 1 aim in sight – SAVING YOU MONEY!!!
plus, you will have an experienced agent on your side, who can help you throughout the entire process, and advise where accordingly to make sure you are not pressured into making any decision that you are not 100% sure on.
as the years go on we see more and more changes that ‘could’ streamline the industry and help the processes speed up and be alot easier to Vendor, Landlord, buyer, tenant and agent! for instance… did you know the UK has one of the slowest processes for buying property? – (i will cover this in another post soon!)
BUT – overall, if you are looking at buying a property, and would like to know more about the ‘buying agent’ process, feel free to give me a call! 01268 500988!
Until the next time!