What is a property buying agent?

What is a property buying agent?

Buying a house can be stressful, time-consuming and complicated. However, people are turning to property buying agents to help make the process easier to manage and make it go as smoothly as possible.

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Despite what many people may think, this service is not only accessible to the rich and wealthy. The money spent on a property buying agent can often be balanced against their success in negotiating a good price on their client’s behalf.

Property agents are experienced and trained negotiators. They are also objective and impartial because it isn’t their home. This helps the process remain professional and secure a successful outcome where all parties are happy.

A property buying agent can get involved right from the very beginning of the property buying process. By understanding their client’s brief, they can ensure that they only put forward properties that are right. Agents will spend time discussing the location, budget and must-haves, as well as understanding what a dream home means to each individual buyer and their families. This means the agent will do all the hard work and save the buyers a lot of time.

Viewings are time-consuming, not only from the travelling time but also the planning. Some families may need to organise childcare or time off work, so walking in the front door and realising a property isn’t right can be hugely frustrating and a waste of time for everyone concerned. The agent makes this scenario a lot less likely so clients only view properties that tick all the right boxes.

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Professional

A buying agent is a professional and will not discuss your personal situation, your finances or any other private information about you with anyone. They will also only recommend professional services that they have worked with before.

Estate Agents

Most estate agents are very used to dealing with property buying agents and are also happy to do so because this confirms to them that the buyer is serious. Many buying agents have excellent contacts, and they can also be the first to hear about new properties going on the market, which can secure their clients early viewings. Many homes never even make it to market and are sold by agents having the right contacts and having their ear to the ground.

Paperwork

Once the property sale is agreed and secured, the agent will coordinate the paperwork, organise all the legal requirements and chase any documentation. All the purchaser needs to do is sign on the dotted line.

One of the things a property buying agent will help organise are the necessary surveys. They can also help source reputable companies to provide a homebuyers report cost. What type of survey the purchaser needs will depend on the type of property:

Condition Report

This will give a standard report on the condition of the property.

Homebuyers Report

This will be suitable for many properties including flats, bungalows or modern houses. It is similar to the condition report, but the homebuyers report will look at the property in more detail and highlight any areas of concern.

Building Survey

This is suitable for large or old properties and those that are unique. It is a detailed report looking at all areas of the property.

When organising a survey, the property buying agent will ascertain the best report for their client, and this will be based on several factors. For example, it might include the value of the property, how old it is, whether it has any specific features such as a thatched roof, and what building work has been done on the property.

The homebuyers report cost will depend on the type of report required and the size of the property.

The current coronavirus crisis has caused estate agents to close their offices, with government guidelines confirming only property sales already in progress should continue for the time being.

Summary

Whether or not buyers use a property buying agent will depend on a lot of factors, including the type of property they are looking for, their budget, the location and how specific their needs are. Not all house sales are stressful. Many go smoothly and quickly, but having expert help can really make a difference. If you have sold your existing property and are under pressure to find a new home or if you have found your dream home and are under pressure to sell yours, a property agent is worth considering. Whatever you decide, moving house is exciting and offers opportunities for new friends and new places.

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