Friday, January 06, 2012
63% of Americans use a buying agent to help find their dream home
Earlier this week I had a most interesting Google+ "hangout" with some of my colleagues in the FrenchEntrée property finders network.
One of the agents, Sophia, was telling us about her experiences in America where she lived and studied for a while. She was saying that it is the norm for buyers to have representation when looking for a house - it's probably the biggest expenditure they will ever make so this makes perfect sense.
I looked it up and, according to this article in Wikipedia 63% of Americans do indeed instruct a buying agent. The article goes on to say:
"Most Buying Agents specialise in a particular location: a large part of their expertise is derived from local knowledge, personal contacts with local estate agents, and inside-information about properties that are not yet on the open market".
This combination of local knowledge and contacts is doubly important if you are looking to buy a property abroad.
For example, if you are currently living in the USA, Australia, South Africa or the far east there is simply no way that you could expect to fully search the market here, or indeed gather the comparable evidence needed to help you negotiate the lowest price possible.
We are seeing an increasing amount of business coming from international clients and whilst it is hard on my telephone bill it is also comforting to know that we have such a robust and long standing business model.....one that more and more UK buyers are adopting.