Property purchasers looking to acquire a home with clarity and confidence can benefit enormously from using a Buyer Agent.
It is widely accepted that estate agents help vendors to get the best price for their property as quickly as possible.
Whilst it is relatively uncommon for people to sell houses without the expert support of an estate agent, many property buyers overlook the many benefits of using a Buyer Agent. Buying a home is, more often than not, the largest individual purchase most people make.
In the UK, it therefore, remains a curious anomaly that most properties are bought with only the seller being professionally represented and buyers are frequently left to fend for themselves, without the help and advice of professional property finders and expert price negotiators.
The RE/MAX Concierge Service offers comprehensive and professional Buyer Agent services across the UK.
Many property purchasers may not have considered using a Buyer Agent before, so the obvious question posed is “what can a Buyer Agent do that I cannot do by myself?”
A sensible starting point is to consider the dynamics of a property transaction. Estate agents only look after a seller’s best interests – a fact often overlooked by house buyers. A Buyer Agent or buyer’s advocate is a property expert who solely works for the property buyer.
A Buyer Agent provides advice and support at the very start of the process until the sale completes. They help with all aspects of finding the best property location, including advising on local schools, transport links and access to local amenities. Their knowledge of the local property market can prove invaluable in finding the best homes and their links to local estate agents mean they can often find off-market properties before they are officially listed for sale.
Buyer Agents do much more than helping buyers with their property search. Their local knowledge and experience can prove invaluable in negotiating the best purchase price. Buyer Agents can also help the home buying process to proceed more smoothly using their contacts to find the best surveyors, solicitors, and removals companies.
A Buyer Agent can save you considerable personal time in sourcing and completing on your dream property.
First and foremost, using a Buyer Agent can save a considerable amount of time, both at the planning stage and the actual house search stage.
At the planning stage, using their knowledge of the local property market and buying process, buying experts help manage expectations by advising on what is achievable relative to a purchasers’ wish-list and stated needs.
Then, with a clear property search brief in hand, time is further saved by filtering properties, previewing properties to propose a shortlist containing only the very best residential property for a client to view.
A Buyer Agents’ knowledge and contacts in the local property market are key to finding the most suitable locations and best properties.
Local knowledge helps to paint an accurate picture of what a house really offers in terms of surrounding facilities and lifestyle, way beyond an estate agents’ brochure.
For example, is the property on a route that is busy during rush hour, or on a noisy flight path, or are there expected to be new property developments nearby that will change the house prices in the local area. All aspects to be considered that an untrained eye or someone who doesn’t know the local area might well overlook.
A Buyer Agent’s local knowledge extends to more than just property. They also have useful insight into the best schools and catchment areas, local traffic issues and can help to find a location to match your lifestyle aspirations.
If you’re relocating to a new area that you don’t know very well, using a specialist with knowledge of the local property market not only can fast-track your property search, but also help you to avoid making very costly mistakes.
It is common practice for estate agents to contact known and trusted Buyer Agents first when new properties come to market, often before the property is listed online.
In fast moving property markets, this advantage can make all the difference in securing a well-priced property.
Independent property Buyer Agents present no commercial threat to estate agents, so they are comfortable sharing private off-market property information.
Additionally, home buyers who have enlisted the services of a Buyer Agent, have further demonstrated their seriousness and commitment to buying a property by virtue of being professionally represented.
When home buyers are looking for a unique property that must fit very specific criteria, a buying expert can make a big difference to the search.
From working farms, smallholdings, country houses, equestrian properties to mansions that will often not be sold openly, having someone ‘in the know’ onside can prove hugely beneficial.
If a buyer is seeking a very specific property, perhaps a period country property for renovation or a barn for conversion, or even with special requirements such as the need for an annexe – an experienced property finder will often be able to source the ideal property, where an unrepresented buyer may struggle to do so without the same insider contacts.
Buyer Agents help with more than just finding a property. Keeping up to date with the latest property market changes and local house price data allows a buying agent to have an informed approach to a property’s true price. When a property becomes of serious interest to a client the Buyer Agent will conduct a thorough due diligence process. They will collate comparable evidence of recent house purchase prices to ascertain the true value of a property, looking beyond just the asking price.
Based on their findings and discussions with the seller’s estate agent, to understand the motives behind the sale, they can advise on the best property price negotiation strategy. It is often the case that a Buyer Agent will be able to buy a property at a discount to the asking price, saving their client money and on many occasions, self-funding their services.
As sometimes can be the case in the UK property market, if a property reaches best and final offers or a sealed bid scenario, a Buyer Agent’s client benefit from having somebody on their side to expertly guide on the best approach. On many occasions, it is not just about making the ‘highest’ offer for a property, but more about making the ‘strongest’ offer for a property. Buyer Agents have a track record of dealing with such scenarios and are well placed therefore to guide on the best strategy.
A selling agent will be aware that reputable buying agencies will have completed due diligence and that the buyer has retained a professional to secure a property for them. This gives both the selling agent and the seller confidence in the buyer’s sincerity and commitment to the buying process.
Whether a buyer is relocating or simply wants assurance that they’re making a good purchase, Buyer Agents will share their local geographic knowledge and property expertise to ensure their client makes a well-informed decision.
From casting a professional eye over the property, dissecting surveyors’ reports, overcoming unfair vendor expectations, an experienced Buyer Agent can provide numerous advantages.
They will provide practical guidance meaning there is no bias and it might be that they advise their clients not to proceed to a purchase.
The first step is to arrange a meeting with one of our Buyer Agents local to your search area who will be looking after you.
This allows them to learn about your requirements and to discuss in detail how the service works and how it would be aligned with your requirements. They will advise on the current local property market conditions and how to maximise what is achievable for your budget. If you are unsure exactly where you would like to buy, the process of deciding on a location will begin now with expert guidance from our experienced team.
Your Buyer Agent will be your single point of contact throughout the property buying process. They will oversee the entire process, liaising with estate agents, solicitors, bankers, surveyors, and other professional advisors on your behalf.
Our team of property experts will work closely with you to create a focused brief from which they search the local property market for suitable properties.
Due consideration is given to your lifestyle and living requirements and the Buyer Agent will advise on the most suitable areas.
It is often the case that during the property search, changes to the initial brief are made, as priorities can shift, and the search area often becomes more focused in the pursuit of the perfect property.
Your RE/MAX Collection Buyer Agent scours the entire local property market thoroughly for suitable opportunities. We proactively source properties which are being openly, as well as quietly, marketed through estate agents, developers, private owners, and our extensive network of contacts. It is this exhaustive approach to property search which frequently gives early, pre-market and often access to off market property.
Suitable properties are viewed in person by our Buyer Agents and their findings reported to the client. In many instances, a virtual property tour is arranged using our proprietary software prior to the client viewing in person.
At this stage, a shortlist of any suitable homes is put together with the suggestion of the client viewing virtually or in person as is appropriate.
Our Buyer Agents will accompany you on all viewings, advising on the negatives as well as the positives of each property.
With changes in priorities or area focus, we leave no stone unturned in finding the perfect property and will only propose that a client views in person if the property appears to offer suitable potential to be of interest to purchase.
The process of researching and previewing can save you the considerable time and effort that would often be wasted viewing unsuitable homes.
Once you decide you would like to secure a particular property the Buyer Agent will conduct thorough due diligence including items such as
Maintaining a pragmatic and objective approach, a Buyer Agent might even recommend not to pursue a particular property if something adverse is identified during the due diligence process.
Based on the findings of their research, the Buyer Agent will outline the most appropriate negotiation strategy aligned to the facts know about the property, the seller and any competing their party interest.
After discussing the proposed negotiation tactics, we will then enter negotiations with the selling agent or vendor directly, depending on how the property has been sourced.
In instances where the vendor has more than one bid to consider, the RE/MAX Collection Buyer Agents relationships and reputation can cast influence, and sometimes prove critical, in tipping the balance in our clients’ favour.
Our core objective is to ensure that every client is entering property negotiations as well informed as possible, supported by a strong strategy to achieve the best price possible.
Once an offer is accepted, your RE/MAX Collection Buyer Agent proactively co-ordinates all parties and oversees the entire property purchase process on their client’s behalf.
From carefully reading through the surveyor’s report and providing commentary to liaising with any contractors to obtain quotes between exchange and completion – a buying agent can assist with a great many tasks and provide expert and objective guidance as needed.
Recommending trusted professionals such as interior designers and removals companies to ensure all bases are covered, your Buyer Agent will also consider the finer details of the move, happily collecting the keys, taking utility meter readings and being available to make certain you are settled in your ideal home.