Tuesday, March 02, 2010
The increased role of "buying agents"
Another good article from the Daily Telegraph.
This one highlights the benefits of using a buying agent (or property finder as they tend to be called in France). It's clear that more and more people agree with me that the market is changing and that buyers are looking for someone to represent their interests.
This is emphasised by the fact that Strutt & Parker, Savills and Knight Frank all have buying agents in their portfolio (albeit trading under a different brand with chinese walls).
My favourite quotes were these:
“We know who’s out there, who’s made a bid, who hasn’t made a bid,” says Peter Mackie of Property Vision, one of the biggest agencies. “We’re all totally embedded in the business.”
Others talk of local knowledge, trade contacts, networks of past clients and even dinner-party and front-doorstep gossip.
“I had one of my best tipoffs from the man who delivers my logs,” says Tom Hudson, of specialist rural buying agents Middleton Advisors.
And once you have been whisked through the front door with a metaphorical blanket over your head, the buying agents are keen to clinch you a deal. Though not, it should be said, at any price.
I really can't understand why anyone should think about purchasing a property overseas without at least exploring the option of having a local professional represent them.