Why use a property buying consultant?
Everyone is familiar with an estate agent in the UK – a real estate professional that is employed by a homeowner to either sell or rent their home. A property buying consultant on the other hand, is employed by the home buyer or tenant to source and acquire a home on their behalf. There are many benefits to using a property buying consultant – this post will go through the 4 most important ones.
1. A property buying consultant represents your interests, not the sellers
When you approach a traditional real estate agency to look for a home, their job is to sell you a home which they represent for the highest possible price. Although this sounds a bit extreme, it isn’t. Their commission comes from the homeowner, so naturally they want to achieve the best possible deal for them.
A property buying consultant on the other hand, receives a commission from the home buyer to source and acquire the best possible property and the best possible price. Most importantly, their number one priority is to ensure that the buyer ends up with a home they love and that would be easier to sell again in the future should the time come.
2. Broad access – including off-market and prelaunch properties
If you go to a traditional estate agency to source a home for you within a given area, they will only show you the flats they have been instructed to sell within that area. A property buying consultant’s job is to scan the whole market for the buyer including areas that they would not have originally considered themselves.
A property buying consultant will also have access to properties that are not on the open market, giving you more options to choose from. Property buying consultants have very good contacts within the industry and this is how they can access this segment of the market. This allows for buying opportunities that otherwise would not be available.
Property buying consultants also get access to properties before they come onto the open market. This is very beneficial when buying into a development. As with any new building, there are some apartments that are more compromised than others – be it the view, the layout, etc. Getting pre-release access therefore allows home buyers to pick the best units in the building, making them easier to sell on in the future.
3. In-depth knowledge of the property market
Buying a home is most likely the single biggest purchase someone makes in their life. It can be an incredibly stressful and time-consuming period. A property buying consultant should have in-depth knowledge of the market, giving you the advantage of having deep industry knowledge on your side. Once your brief is given, the property buying consultant will be able to narrow down the different buying opportunities – identifying the streets, developments and areas that best meet the buyer’s requirements. They will help ensure that the property is bought for the best possible price and on the best possible terms.
4. Ensures the efficient use of the buyer’s time
A property buying consultant’s full-time job is to source and purchase properties on behalf of clients. This should significantly reduce the amount of time it takes to buy a property. Once given a brief, the property buying consultant will identify and visit all the homes that might work and only present the best options to the buyers. It also saves the buyer from having to deal with so many selling agents and have just one point of contact. There are many other contacts other than real estate agents that are required to purchase a home, including solicitors, surveyors, mortgage brokers and contractors. Property buying consultants have business relationships with all these contacts and can recommend/liaise with them in order to complete the purchase.
In summary, my mission is to ensure that you end up with a great home at the right price that you truly love and should circumstances change it would be easier to sell on.
If you believe you will benefit from using a property buying consultant, get in contact here for a free consultation.