Buying agents are increasingly becoming property buyers’ secret weapon. Whilst buying a home is an exciting prospect, it can also be fraught with stress, fear and be a real drain on your time, which is why a buying agent might be just what you need.
What is a Buying Agent?
A buying agent acts solely on behalf of the property buyer to help find a suitable property and provide advice and support from the very start of the process right up until the sale completes.
Buying agents were more commonly used at the very top end of the market, but there are many reasons why more and more discerning buyers are turning to these seasoned property professionals. Here are just some of the reasons:
More properties being sourced and sold off-market
Demand for property has consistently run above supply for the past two years, resulting in many buyers getting frustrated by not being able to find their ideal property. As a result, more vendors have embraced off-market sales. This is mainly to protect their privacy, but also because they don’t want the hassle of a bidding frenzy. They also know that by selling off-market to a private buyer there is more commitment, and they may even get a higher price than listing it on the open market.
According to Hamptons Estate Agents, off market sales increased nationally in 2022, with 10% of homes now being sold off-market. Selling off-market used to be more common at the very high end of the market, but now more properties under a £1 million are being sold off-market.
Buying agents know the local area well and get to know when homeowners might be looking to sell. They also know how to make direct approaches to them and entice them into a private sale.
Find a property that’s right for your needs
Choosing the right property is all about understanding what you require, what you can afford, and what properties are available at the time you are ready to purchase. When you’re emotionally involved in a purchase, it can be hard balancing all these elements together.
A buying agent can look at your situation rationally to help ensure that you are not only making the right investment, but that the purchase suits your needs now and in the future.
Level the playing field
With sellers being represented by estate agents, as a buyer it can often feel like the landscape is stacked against you. It makes sense to have someone on your side of the fence to level the playing field and make sure you are making the right decisions.
Buying agents are very experienced property professionals. They know what to look for, what to ask, and what price to pitch your offer at. It’s important to work with a buying agent who knows the local area, who has local contacts and connections with estate agents and who knows the local market inside out.
Expert negotiators
Buying agents do so much more than just find properties for clients. They’re also experienced in handling every negotiation detail, from communicating with the vendor’s agent and solicitors and ensuring that the purchase goes through as smoothly and quickly as possible. Throughout every step of the process, they have your best interest at heart and having someone who is the go-between the seller, their estate agent and solicitor and you (the buyer) can really help to move things along quicker and save you having to do all the chasing.
Saves time, money and stress
Finding the right property can be a drain on your time, finances, and emotion. In today’s market where there are less properties to choose from it pays to have a buying agent by your side to help identify any blind spots and do the ground work for you.
This is especially important if you are moving to a new area, or even country. A buying agent will view potential properties on your behalf and provide a short list so that you don’t have to keep travelling miles to view properties that aren’t suited.
Buying a property is a significant investment and decision, as a result, here are Buying Agent Partnership, we want to make sure that our clients feel fully supported and guided every step of the way.
We operate in areas across the UK, with expert professionals who are able to provide a very personal and bespoke service. To find out more about us, please complete the form below or 0330 223 6339.
