Can you afford not to employ a property search agent?
December 31, 2007
If you are a potential property purchaser looking to buy a property at the higher end of the market you may fare better and save yourself time and hassle by employing a professional to find the perfect home for you. Many of us have seen television shows where experts help singles, couples, and families find the perfect home abroad, and apparently for many wealthier home purchasers this is becoming the norm in the search for an everyday home rather than just a holiday home.
According to recent reports a property search agent can save the purchaser time, hassle, and ultimately even money. These agents do charge retainers of between £500 and £3000 on average, along with a percentage fee. However, some state that they have recouped these fees simply through the amount that they have saved on the cost of the property, with the agent negotiating far lower prices on behalf of the purchaser.
One property search agent stated: “People can do a lot of the work themselves but generally aren’t able to. The problem is that selling agents don’t take a private person as seriously as a buying agent. A selling agent knows that I have a client who is serious about purchasing. Most of the houses my clients would want are viewed by buying agents before they go on the market. I will also hear about properties private buyers will never hear about.”
He also said: ‘You used to talk about the £1m property and it was a big house in the country, it isn’t anymore – that’s £2m now. It is interesting to see what is happening at the moment - I’m signing up more people than I would have expected. In the past when you are talking about a property crash, what you generally see is no homes on the market. Where that happens is when buyers need a buying agent because there is apparently nothing for sale.’
Tom Smith
31st December 2007
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