An independent property buying agent can offer the buyer expert help and advice in relation to buying a new property. Buying a new property can be a difficult thing to undertake, which is why employing the help of a buying agent can be a good idea.
WHAT IS AN INDEPENDENT PROPERTY BUYING AGENT?
People hire the services of a property agent for many different reasons: it may be because the buyer lacks experience in the property market, it may be that the buyer hasn’t got the time to commit themselves to undertaking the search themselves, or it may be that the buyer wishes to avoid the stress of what can be a complicated process for those who are not experts in the area of property.
In general, an independent property buying agent (also known as the property search agent) is responsible for
- sourcing the right property that fits all the criteria specified by the buyer
- recommending other professionals to carry out services such as the legal aspects relating to the sale
- providing expert advice on all related issues
- ensuring that the amount of money being paid is a fair market price – knowledge which the buying agent will have gained from years of professional experience
WHAT DOES THE INDEPENDENT PROPERTY BUYING AGENT DO?
INTERVIEW THE BUYER
This stage of the process is to ensure that the agent knows what kind of property is needed for the buyer. This interview will be important in terms of the future communication which will happen throughout the buying process between the buying agent and the buyer. The criteria specified by the buyer at this stage will determine the properties which are sourced by the property agent, and will ultimately lead to the attainment of a property for the buyer.
SHOW THE BUYER PROPERTIES
Once the independent property buying agent has found a property/properties which fit the criteria specified in the interview stage, the client will be shown around with the guidance of the agent.
The agent will point out the benefits of the property but also, crucially, will make the buyer aware of any faults related to the property, and any problems which may occur with it in the future.
Independent property buying agents can give buyers the upper hand thanks to their inside knowledge on the property market, and are usually the first people to hear about properties which are about to be put on the market.
PROVIDE THE BUYER WITH RECOMMENDATIONS
Once the buyer has reached a decision about the property he/she is going to buy, the independent property buyer will work alongside relevant professionals (estate agents, solicitors, surveyors, etc.) to make sure that the process is moving in the right direction and that the buyer is satisfied.
Usually, the property buying agent will be experienced enough to provide the buyer with the recommendations needed when it comes to the professionals who will instrumental in the final stages of purchasing.
BENEFITS OF AN INDEPENDENT PROPERTY BUYING AGENT
- An independent property buying agent will provide the buyer with the expert advice needed to successfully buy property. The agent will advise on aspects such as the true value of a property – whether it is overpriced or whether it may contain hidden costs in the long run
- The agent will utilise his/her experience and avoid the thousands of properties on the market which do not fit the buyer’s criteria
- The negotiation skills of an independent property buying agent can be crucial in terms of a good deal for the buyer. An agent’s knowledge on the area which the property is in, as well as various other factors relating to the value of the property and the market in general, will ensure that the buyer has the upper hand in the negotiation process
- The independent property buying agent will arrange and oversee the necessary inspections which should take place once the desired property has been established and before the sale has been finalised
PROPERTY DEVELOPMENT OPPORTUNITIES AND INDEPENDENT PROPERTY BUYING AGENTS
Many independent property buyers also provide property development services. These services can include refurbishments, extensions, and maintenance, as well as a full letting service.
Searching for a new property can take a lot of time and effort. An independent property buyer can provide professional advice and act on your behalf, making the process much easier for you.
If you are looking to purchase a property and are interested in Eldron’s services, fill out a contact form and we will be in touch to arrange your free consultation.