Monday, November 23, 2009
91% of Brits would use a "buyers agent"
Encouraging research coming out of the Association of Property Finders and Buyers Agents (APFBA).
Over 2000 people were questioned between November 2008 and March 2009.
Worryingly, two thirds of buyers questioned believe that estate agents work for both buyer and seller. On being reminded that estate agents are generally paid to represent the best interests of the seller, 89% of buyers accepted that a conflict of interest exists where an agent deals with both buyer and seller in the same transaction.
Indeed, some 86% of those questioned said that they would get a fairer deal if they had a professional to represent them, and 91% would use a buyers’ agent if this would save them time, stress and money.
I have blogged before on the changing face of estate agency and firmly believe that buyers agents (or property finders as many people call them) will become more and more prevalent as the market changes.
I have been asked by French Property News to write on this subject and will post a link when it is published.
Meanwhile I leave you with this from the excellent UK based Homebuyers Agency:
The survey also showed that 75% of buyers prefer use the internet as their primary search method. With portals such as Rightmove, Globrix and Property Live providing access to every property listing in the UK it seems that the UK is moving towards a similar model as the US and Australia.
There, estate agents work as ‘listing agents’ for the vendor, uploading their listings to the Multi-Listing Service (MLS), or in other words the internet portals, and buyers’ agents are employed by the buyer to help find, advise, evaluate and negotiate on the property purchase.