Why on The Ground Expertise Helps Ideal Home Hunt

30.09.14

Philip Selway Managing Partner of The Buying Solution explains why ‘on the ground’ expertise can make all the difference in the hunt for the ideal home

Go back just a handful of years and the only people using buying agents were cash-rich time-poor celebrities on the hunt for their second, third or even fourth ‘ideal’ home. These days, it seems having a well-trained pair of eyes and ears to guide you through the purchase process is increasingly common with investors and home buyers realising the gains to be made from having an expert onside to secure them the house of their dreams.

“A professional buyer’s agent is there to provide you with the knowledge you need to make an informed decision about the value of a property - without all of the sales “hype” often generated by sales agents,” explains wealth management consultant Jeremy Stock. “In many respects it helps level the playing field between vendor and purchaser. Their role is to assist with each step of the search, evaluation and negotiation journey through to exchange of contracts and sale completion. Fee structures can be agreed up front with either a flat rate or a percentage of the property purchase price, which is settled at the point of exchange. For most of us, property remains one of the biggest capital investments we’re ever likely to make, so it makes sense to secure professional advice to ensure the final decision is a good one.”

For Philip Selway, Managing Partner of leading agency The Buying Solution with offices in London and the South East, a successful purchase outcome is all about “relationship building”. “Understanding a client’s needs is critical. With this in mind, we spend a great deal of time at the outset talking to clients to gain a thorough understanding of their individual needs and preferences. From there, it’s a cumulative process starting with a proactive search based on specific purchase criteria, moving through to a final short list and then accompanied viewings.”

While later stage contract negotiations are an integral part of The Buying Solution package, where agency support can truly pay dividends, explains Selway, is when the client is “most exposed”. “We handle all due diligence aspects of the purchase process, including negotiations with planning authorities, contractors and suppliers. Providing a detailed report on potential issues such as rights of way, tenancies and enfranchisement, and new traffic routes, is all part of the service. It gives clients the opportunity to reflect on the bigger picture before making that final all important decision.”

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A further incentive at buyers’ disposal is access to the renowned “secret market” where the best properties are sold before being offered to the open market. “Clients are in a privileged position in that they benefit from an almighty queue jump,” adds Selway. “In fact over 40% of the properties we bought for our clients during the last 12 months were purchased before they even appeared on the open market.”

He reflects: “Buying agents used to be the preserve of the super-rich, but the sector is rapidly evolving to attract an increasingly diverse clientele. That said, the most valuable resource at a buyer’s disposal is instinct. A place has to feel right from both a financial and emotional perspective, whatever the face-value attractions may be.”
For more information contact: www.thebuyingsolution.co.uk

WHY USE A BUYING AGENT?

  • Access to a wider choice of properties (many not even advertised).
  • Peace of mind - an independent professional advocate on your side.
  • A tailored source of suitable property with excellent prospects for capital growth.
  • A means of fine-tuning your property portfolio by buying in growth areas.
  • Due diligence information and on-the-ground expertise.
  • A professional negotiator in place to secure the right price.

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