Why Estate Agents Are Required When Buying A Property

Smooth the house purchase process with a property professional’s help

When buying a property, many think that all the estate agent does for the purchaser is to advertise properties and arrange viewings.

The reality is somewhat different; while the estate agency’s actual customer is the seller of the property, an experienced agent also helps buyers find the right home with their services. This usually proves invaluable all the way through the purchase process.

 

The role of the estate agent

An estate agent’s job – as with agents in other fields – is to put the buyer in touch with the seller.

Their customer is the property owner – the seller – who ‘instructs’ the estate agent by placing their property for sale with them. The agent will be remunerated by the seller, usually through a percentage of the final selling fee, if they find a buyer for the property.

The estate agent plays a dual role in that they also help buyers find the property they’re looking for by matching what they have on their books with the requirements of buyers. The purchaser isn’t charged for this service.

How the estate agent can help:

 

Local knowledge

Even if a buyer already lives in or near the area they’re looking to buy in, an estate agent’s local knowledge is a key benefit of using their services.

They know the lie of the land, what’s available and maybe even what’s about to happen in terms of possible new developments and other properties due to come onto the market.

Experienced, local experts such as Keystones Property estate agents covering areas of Essex can help the buyer orient themselves – especially those unfamiliar with the locality – and appraise them of what’s available locally and in neighboring areas.

 

Property matching

While advertisements serve a purpose, a face to face or at least, a phone discussion with an agent can help people find the exact property required.

Describing requirements in detail means an agent can restrict property viewings just to those that specifically meet the buyer’s requirements, therefore saving time.

 

The hidden market

Not all properties are advertised; some are too new on the market, or not even on the market yet, but the agent is aware of them and can advise a buyer early if these might suit their needs.

Also, some properties are deliberately kept ‘under the radar’ even though they’re for sale. Maybe the seller has asked the agent not to market it too visibly – such as by advertising – so restricting an agent’s selling efforts solely to advising potential buyers directly by phone or email that a suitable property may be available.

These properties wouldn’t be open to the purchaser if they weren’t using an agent to help them buy.

 

Your advocate

While the agent’s customer is the seller, they would certainly communicate to them whether you’re a sound buyer. For example, if you have a confirmed mortgage offer and have either sold your existing property or otherwise have no chain, then this could help your case if you’re putting an offer in under the asking price.

Without an agent, it would be hard if not impossible to convey this to the seller.

 

Smoothing the sale

Once a sale has been agreed, that isn’t the end of the agent’s help for the buyer.

Property sales go through various stages and sometimes sticking points occur, so the estate agent’s role is to help smooth the way and attend to any possible or actual aspects that might hold things up or even jeopardise the sale.

They’ll be in touch with other parties such as solicitors and surveyors to ensure things happen when they should and, if there are any issues, that these are dealt with promptly.

It’s obviously in the estate agent’s interests to ensure the sale completes, so they’re involved throughout the process – they certainly do more than simply advertise properties.

 

A buffer

Buying a property can be a highly emotive process, and an estate agent can help prevent this, potentially compromising the search for the right property.

For example, if the buyer has questions – especially when offers are being made – the agent can field these and seek answers from their seller, preventing the risk of tensions running high if the buyer and seller were to communicate directly.

It helps everyone keep an objective approach to the process which helps the buyer especially.