Using a Buying Agent
Property purchasers looking to acquire a home with clarity and confidence can benefit enormously from using a buying 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’s 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.
Garrington offers buying agent services across the UK.
Should I use a buyer’s agent
Many property purchasers may not have considered using a buyers agent before, so the obvious question posed is “what can a buyers agent do that I can not 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’s agent or buyer’s advocate is a property expert who solely works for the property buyer.
A buyers 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’s 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’s agents can also help the home buying process to proceed more smoothly using their contacts to find the best surveyors, solicitors, and removals companies.
Sourcing and acquiring the finest property
Our team of expert buying agents are on hand across the UK to assist with your search for the perfect property
Saving time
First and foremost, using a buyer’s 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.
Local property market knowledge
A buyer’s 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’s advocate’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.
Finding off-market properties
It is common practice for estate agents to contact known and trusted buying 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 buying agents pose 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 buying agency, have further demonstrated their seriousness and commitment to buying a property by virtue of being professionally represented.
Specialist property search
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.
The right advice when you need it most
Garrington can help you identify suitable places to live which align with your lifestyle and property requirements.
How to find a buying agent
When it comes to finding a good buying agent there are several points to consider.
Property Search Experience
Local knowledge and experience are important factors to consider when choosing a buying agency. It is essential to choose a property finder that has agents living and working in the area you want to buy in. A buying agency that’s been in operation for many years and has a track record of success will have multiple case studies and testimonials from happy customers.
Professionalism
Prior to engaging with a buying agency, it is worth taking the time to ensure that the company has adhered to its statutory obligations by registering with various professional bodies.
All buying agencies are required to be subscribed to a property redress scheme such as The Property Ombudsman.
Reputable buying agencies are also likely to be members of the Association of Relocation Professionals and property industry body Propertymark. All UK buying agencies should be registered with HMRC for the supervision of anti-money laundering and with the ICO for data protection.
Impartial property advice
Be aware that not all buyers’ agents are able to give truly impartial property advice.
Some are simply the buying arm of an estate agency and others may receive a referral fee for recommending services.
It is important when choosing a buyer’s agent to select one that can truly provide impartial advice.
How is a buyer’s agent paid
Buyers’ agent’s typically have two fee elements.
The first part of the fee is a retaining fee is paid when the property search starts.
There is also a success fee, which is frequently calculated as a percentage of the final purchase price or a percentage of the saving off an asking price they can achieve.
The retaining fee is often full deductible from the success fee. It is often the case that the buying agent’s expertise in negotiating property prices results in a financial saving that covers the whole success fee, therefore making the service self-funding.
End your property search by beginning ours
Garrington can help source and acquire the perfect property.
Buyers agent services
Buyers 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 buying 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 buying 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 buying 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. Buying 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. Garrington clients have previously won in sealed bid situations due to their representation, being chosen over other buyers who had offered a higher figure.
Assurance and impartial advice
Whether a buyer is relocating or simply wants assurance that they’re making a good purchase, buying 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 buying 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.
Award winning UK buying agents
With a 25 year track record of success, Garrington has the contacts, knowledge and expertise to find you the perfect property.
Using Garrington’s buyers agents
Garrington is one of the longest established property buying agents in the UK.
Uniquely placed with a 25-year track record of success and the widest geographic coverage of any buying agency in the UK, our extensive experience is channelled into satisfying individual requirements in terms of location, price, architecture, and internal configuration. Whether you are seeking a main residence, a second home or building a property investment portfolio, Garrington understands that different objectives will lead each property search.
With buying agents located across the UK in a range of locations from Exeter to Edinburgh, London, Oxford, Cambridge, and many places in between. Wherever you are looking and whatever type of property you are searching for a Garrington buying agent will be able to assist with sourcing and acquiring the finest property.
The Garrington team have experience in finding and securing main residences, second homes, holiday property, renovation projects and investments as well as specific types of residences such as equestrian properties, smallholdings, farms, and properties that serve as both a home and a business.
We would be delighted to discuss your plans in greater detail and share information on the range of services we offer.
Meeting our buyers agents
The first step is to arrange a meeting with one of our buyer’s agent 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 buying 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.
Property search brief
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 buying 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.
Creating a property buying shortlist
Garrington 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.
Garrington has long standing relationships with estate agents who, on many occasions, give priority information on properties because they value the efficiency we bring to the home buying process and know buyers’ agents only look after committed property buyers.
Suitable properties are viewed in person by our buyers’ 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.
Finding the perfect property
Our buying 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, Garrington leaves 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.
Due diligence
Once you decide you would like to secure a particular property the buying agent will conduct thorough due diligence including items such as
- Evaluating historic property prices for similar nearby properties
- Review of overall local property market data
- Research the area, considering any nearby local development plans that might affect the property
- Collect information on any questions raised that would affect the properties price
- Establish the background to the property sale and the seller’s motivations
Maintaining a pragmatic and objective approach, a buying agent might even recommend not to pursue a particular property if something adverse is identified during the due diligence process.
Property negotiation
Based on the findings of their research, the buying 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, Garrington’s relationships and reputation can cast influence, and sometimes prove critical, in tipping the balance in our clients’ favour.
Garrington’s 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.
Conveyancing
Once an offer is accepted, your Garrington buying 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, a buying 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.
