Looking for a property in Provence?

Just spent a most enjoyable lunch topped off with fresh strawberries from the garden which are still going strong.

It was doubly enjoyable as I was reading this excellent article from one of my colleagues in the FrenchEntrée Property Finders network.

Neil Ranadé hits the nail on the head when he says:

But, in a society that is, by and large, cash rich and time poor, it is interesting to know at what point using a property finder makes economic sense. After all a good property finder should be able to find you exactly the home you want and be able to save you enough money to cover their fees and a celebratory drink in the nearest bar once the deal is done.

Reading the full article it's clear that it's not just in the UK that the buyer is seeking professional representation in this most important of transactions. If you are an international purchaser buying in France then, as Neil says, it's a "no brainer".

So, if you're looking to find something special in Provence and want professional representation I heartily recommend you visit Neil's website here.

www.cognacproperty.com

FT says it's "insane" not to use a buying agent

Wonderful article in this week-ends Financial Times about the benefits of using a buying agent.  You can read the full article here. Meanwhile here's a quick taster:

Indeed, what is anyone doing buying a house at any price without taking advice? Think about it and it is all a bit nuts. Most people wouldn’t dream of investing even a few hundred thousand pounds in the stock market without a wealth manager holding their hand. And they couldn’t imagine spending their only million on a painting on the advice of one gallery owner.

Yet when we buy houses, we trawl around a few estate agents until we find one we think we like. Then, ignoring the fact that the agent is acting for the seller, we look at it for an average of 96 minutes, negotiate with him ourselves and, after the odd interjection from our solicitor about whether or not the dishwasher is included, we pay up.

That’s not just insane at the top end of the market – it is insane throughout the market.

Search agents were invented to suit a bubble market – the idea being that they would seek out houses for their clients before they came to market and buy them before the competition even knew they existed. That still makes sense in a few areas. But in a market like today’s, where prices and supply are uncertain and estate agents are desperate to make sales, all buyers need someone on their side, whether they are spending £400,000 or £4m.

Get a good agent and they should be worth every penny of the 1-2 per cent they cost.

Here here (and the advantages multiply if you are looking to buy abroad).
 
www.cognacproperty.com

"This is money" article - Can a buying agent save you money?

Interesting article on This is Money which you can read here.

"If you are serious about moving it's hard to see the flaws"

I'm not sure that people still see buying agents as being just for the super-rich - thanks to Phil,  Kirsty and others that view seems to be a thing of the past.

If I was moving a long distance in the UK I would certainly use a buying agent, if I were buying a property in a different country with additional linguistic, legal and cultural barriers then it's clearly a "no brainer".

We may not have "super powers" but we certainly know our local market and you'll be safe in the knowledge that we are acting solely for you and not the seller.

One final thought on the idea mentioned of taking a fee as a percentage of the saving made (in this case 15%). 

Yesterday morning I sent a client a shortlist of houses I'm suggesting he visit when he comes out.

Top of the list is a house that is being marketed for €330,000.  His budget is €250,000 and I sent it to my client as I know that the owners would accept this. 

In the "buyers" market that currently exists I think it's far fairer to take a simple percentage of the purchase price.

Mind you, the client is always right so if anyone wants to work with me on this basis then I'm happy to hear from them!

www.cognacproperty.com

Buying agents - the miracle workers

So say "The Times" this morning in this illuminating article.

It's great PR for those of us who act purely for the buyer and does go a little way to justifying some of my earlier blogs about the changing role of estate agents.

I particularly liked this quote:

“We take the pain out of buying and make it fun,” says Mark Lawson, head of farms and country estates at The Buying Solution, a Newbury-based agency. “People come to us principally because they have been looking for a while and are fed up, or because they know they don’t have the time or knowledge to do it well.”


If someone buying a house in the UK is scared that they don't have the time or knowledge to do it well then imagine those overseas buyers looking to buy a property in France - with its different language, process, laws and tax structure.
 
Trust is a big issue in the buyer/agent relationship and we need to earn the same confidence that buyers have in their other professional advisors like their accountant or lawyer.
 
www.cognacproperty.com