London based property expert Simon Barnes explains the importance of finding a good buying agent when investing in the prime London property market.
Finding the right property to invest in can take time and for many, can be stressful experience. In the UK most, but not all, properties are sold by estate agents. While many estate agents provide an excellent service, all have one major drawback when it comes to finding the right property to buy, which is that they represent the interests of the seller rather than the buyer.
In contrast, buying agents do not sell a product and are focused only on the interests of the buyer. In the prime London property market, the best properties are sold off-market and most are complete one-offs. It is normally the case that the best buyers are also those operating under the radar.
When you engage a buying agent they will ascertain your exact requirements (location, budget, types of property, etc) and then use their insider knowledge and explore every avenue, using their contacts, including conventional estate agents with whom they have developed strong relationships, in order to find their client the right property. Buying agents will assess a property’s market value and genuine investment potential and are uniquely placed to know about prime properties, either before they are advertised, or when they are not officially for sale because the seller decides against the publicity of the open market. [Read more…]