In the UK, the use of buying agents as a necessary resource while going through the process of buying a home is something people tend not to consider unless they have the resources to pay for it or they have been burned before and understand why it’s worth every extra penny.
There is a very obvious need in the UK property industry for extra support for buyers. In my own experience, I often find it very difficult to negotiate with a seller via the Estate Agent. A practical example is when we received the result of a building survey and there were some very obvious areas for negotiation on the price of the property. The tricky part comes when trying to decide how to strategically position the message back to the seller while needing to take into account how to manage the Estate Agent. For any buyers who have had no training in negotiation let alone being inexperienced in buying properties, getting this wrong could cause the transaction to take a bad turn. It’s not easy managing two people with varying interests while only (typically) communicating with just one of the parties.
I think buyers in the UK should have greater access to more affordable buying agent services to help with scenarios like the above. I came across Henry Pryor’s buying agent service, Pocket Agent. The full service allows for full undertaking of the transaction with the seller and agent, however, the Pocket Agent service is something first and second time buyers need more of which helps to “provide a buyer with the knowledge of how to negotiate and advice on what to do in their circumstances”. This type of service, which is affordable, is something all buyers should keep in mind. It’s easy to forget that the estate agent works for the seller and having a team in the buying corner, even just for advice and to gain knowledge on what to do next, will make a big difference.