As a new decade begins the main story in property is the lack of stock. Fear of an unstable market is holding back all but the must-sells and the number of properties up for sale is in no way meeting the demand.
“We are certainly coming up against a lack of stock across London and the south east,” said professional buying agent Tracy Kellett of BDI Home Finders. “We are increasingly finding ourselves competing with three other buyers on the best properties.
“The market currently has overtones of 2007, when we had to go and view immediately or properties would be gone”. Tracy, who has offices in London and the Home Counties, said that in difficult climates, it’s not unusual to see estate agents and buying agents working together. Ever more, the home finder is on the receiving end of estate agents’ tip offs about prime properties before Rightmove even gets a sniff.
“After all, we’re both working towards the same end result: selling houses,” she said. “An estate agent knows that a home finder is a fellow property professional and has the time and most importantly, the drive, to see a sale through to completion.”
“It’s near impossible for the average buyer to react as quickly as a buying agent can when it comes to viewing an in demand property. That’s why a home finder is always first through the door.
Buying agents will often view properties that clients’ think are beyond their budget, because they have the insider knowledge that a deal will be possible” and our business-to-business relationship with the selling agents means we’re in the best position to find out which vendors are the keenest to sell and are most likely to negotiate.
Tracy, whose company is a member of APFBA, the Association of Property Finders and Buying Agents, explains that although most won’t explicitly make the promise, buying agents tend to be self-funding. “More often than not, what we negotiate off the asking price covers our fee. Using a home finder doesn’t have to be a luxury. It’s becoming an increasingly visible part of buying a property for busy people from all walks of life”.