Estate Agents

Okay, so you’ve decided to purchase property in the UK. You have already determined your offer price, chosen a property, and arranged financing. What next? You could go it alone, but doing so comes with inherent risks that could prove costly in the long run. In addition, foreigners choosing to purchase property would be better served using an estate agent to help them walk through the complicated maze of taxes and regulations. But how do you find an estate agent? And what makes a good one? Remember, having a “bad” agent can be worse than having no agent. Therefore, understanding how to choose the perfect estate agent for your needs will ensure that your property buying experience is as expedient and pleasant as possible.

Affiliation Ensure that your agent is affiliated with an organization such as the National Association of Estate Agents, the Royal Institute of Chartered Surveyors, or the Ombudsman for Corporate Estate Agents. These agents have specialized training, ensuring that their service is of the highest quality. In addition, if you have a problem or complaint with a certified estate agent, there are many more options for recourse, making them a safer bet. Reputation Face it, even estate agents with good credentials can provide shoddy service—or service that doesn’t quite suit your needs. Ask around. For example, those looking for commercial property might consider asking business associates to recommend estate agents with a proven track record of buying and selling commercial property. Looking for residential property? Ask residents in the area which you are considering for tips. Or, ask friends for advice. Even if you don’t know anyone who can refer an estate agent, you can still check out his or her reputation. Feel free to ask for references from previous clients, checking for the following items to ensure that your estate agent is the best choice for you. Or you can ask the agent these questions directly:

Does the agent respond to calls and emails in a timely manner? An agent that doesn’t maintain regular contact isn’t likely to be keeping your best interests in mind. Or, he or she may be too busy to competently handle your transactions.

What did/does the agent charge? While bargain shopping for a competent agent is a good idea, remember that cheaper is not always better. Finding a reliable estate agent can save you more money than utilizing a less-expensive, incompetent one.

How much training does the agent have? Not all agents have the same levels of training. Better-trained agents are generally a better choice.

Does the agent have experience with your type of transactions? If you are a foreign buyer looking for property in the UK, you’ll be better served by utilizing an estate agent that has experience helping foreign investors/purchasers. He or she will understand the intricacies and processes that come with buying land as a non-national.

Even the most frugal shopper looking for property to buy in the UK can save money using a qualified estate agent. Buy saving you time, money, and aggravation, estate agents more than earn their keep. Knowing how to choose the right one is one way to make sure that you protect your investment.