Discerning property buyers see London buying agents as an essential component of the property search and acquisition process. Purchasing super-prime property in central London requires dedicated resources, tenacity, contacts and many years of experience.
The London property market is complex so getting the right independent advice is crucial. Estate agents do not represent the buyer; the vendor pays them. So do not think they have your best interests at heart, no matter how personable they appear.
Estate agents can only sell their listings. As a result, they rarely work together and share commissions as UK fees are too low. Therefore, to see all open market listings, you need to register with every agent in the search area. In Chelsea alone, for example, there are over sixty estate agents.
With this in mind, searching for the right property is highly time-consuming and can be a full-time job. Therefore, doing it yourself is not an option if you are time-poor, live overseas or value your free time.
London property has worldwide appeal, so the best properties in the finest locations are always in high demand. In addition, properties on the most exclusive streets seldom come to the market. So, when they do, there is often stiff competition. In addition, many of the most exclusive listings are sold off-market through a private network of trusted advisors.
In Prime Central London, you are at a distinct disadvantage if you do not have professional representation. Most agents and property advisers will favour London buying agents to market the best listings discreetly. Subsequently, off-market property accounts for over 50% of transactions in some areas. Consequently, buyers who do not engage London buying agents will only see a fraction of what is available.
London buying agents will manage the buyer’s entire property search and acquisition process. Some buyers do not want to be involved in the process, whereas others cannot afford the time. However, some buyers like full involvement at every stage. The London Buying Agents will tailor their service to your situation to provide a bespoke solution, especially for you.
These are the basic steps
Discuss the requirement and objectives
Full property search of all open and off-market channels
Preview all suitable property, conduct due diligence and report on each
Arrange a viewing tour or virtual viewing
Handle all negotiations
Manage the acquisition and legal process
Organise any third parties required after completion
All clients of The Buying Agents also receive a free lifetime aftercare service. In addition, we are on hand 24/7 to advise in any capacity.
London buying agents fees range from 1 – 2.5% of the property purchase price.
Most London buying agents’ fees consist of two parts.
The registration – Paid upfront and deducted from the purchase fee.
The purchase fee – Paid on the exchange of contracts.
The fees vary between the various companies, so speaking with a few London buying agents is essential. The fee level is no indication of performance or success, so it is vital to base any decision on what is important to you. Experience, local knowledge, and property market insight are more important than how they charge. In addition, your personalities must align as it can be a long and personal process.
Please get in touch with The Buying Agents below for further information. Alternatively, call us at +44 (0) 20 3600 0048 if you would like to discuss your requirements.