A Buyer’s Guide To Property Search AgentsNigel Bishop

www.recoco.co.uk

Property Search Agents

A Buyer’s Guide To Property Search Agents Why write a short document like this? Chiefly, it’s to help buyers understand the true value a property search agent can bring to the property search and buying process.

Though my own field of expertise is in Devon and the South West, I hope this document will be valuable to buyers everywhere searching for property and in particular, buyers thinking about using a property search agent wherever you want to live.

It won’t take long to read. It could save you money, time, hard work and unnecessary stress.

I do hope it helps.

Nigel Bishop, June 2013

What Is A Property Search Agent?Superficially, our job title is self-explanatory. A property search agent helps you find property.

But at the same time, it’s a job title that doesn’t clearly explain the true value or full extent of our work, knowledge, understanding or expertise. It doesn’t explain that we perform a very different job from others in the industry.

To explain what we do, it’s probably best to begin by exploring what we’re not.

What We’re NotWe’re not estate agents. In the property buying process, it’s possible to forget that the estate agent represents the vendors of the property, not the buyer. Though they may get involved in negotiations and helping both parties reach a successful agreement, they are ultimately employed by and paid for by the seller.

CASE STUDY“We viewed about 30 properties in Devon before we met Nigel, but not one of them was a serious possibility. After Nigel became involved, we only viewed about 10 – but we considered all of them. We were very impressed with the way he took time to get to know us and really find out what we wanted, and helped to guide us even when we weren’t quite sure ourselves. He really does seem to know every little village in the area, and house hunting went from being a bit of a headache to being an exciting adventure once again. He also seems to know everyone and was able to show us properties before the ink was dry on the particulars. Nigel cheerfully goes the extra mile and we’ve ended up with the perfect property. Even though we were making the purchase from a distance, it was all pretty stress free thanks to his help. We wouldn’t hesitate to recommend Nigel to anyone looking to buy a home in Devon.”

- Mark Hensman, Oct 2009

That’s not to imply or infer that estate agents are not helpful or kind or marvellous people (many of my friends are estate agents!) but simply that it’s worthwhile seeking totally independent advice to help you make some of your big life decisions. And the way to secure the independence of your advice is to get your own expert.

So, an increasing number of buyers are choosing a property search agent because they want someone solely representing their purchasing interests.

My definition of a property search agent is this: it’s someone dedicated to representing your best property and life interests, who helps you make better buying decisions, and who works as an intermediary throughout the whole buying process – from beginning of the search to final contractual arrangements and purchase.

It’s a property search agent’s job to make your life easier and help you make superior buying decisions.

So You’ve Decided To MoveMaking the decision to move can be a marvellous adventure full of tremendous possibilities. The decision marks the tip of a vast iceberg of questions you’ll start considering.

It’s important to ask yourself all the right questions at this stage. What do you really want to gain from the move? What do you want less of ? And what do you want more of?

A property search agent begins their work here, at

this very point. Their job is to understand you, your lifestyle, your objectives and goals for the purchase – usually before you’ve found a single house at all.

They will help clarify key decisions and assumptions informing your search from the very beginning of the property buying process. Like a house built on firm foundations, it’s of profound importance that a relocation and property acquisition is based on practical, strong foundations.

From deceptively simple activities such as drawing a square on a map to long conversations that get down to your fondest dreams, your financial realities, your goals and expectations – a picture slowly begins to emerge. This picture is what we’ll take away to start working towards making the sketch into something real you can move into.

‘It’s All Online Already’In the age of the internet, it’s an entirely fair question to ask what we can add to the process of finding houses in the first place. After all, it’s easy to find properties online isn’t it? The short answer is yes. And also no.

Many of my clients in the past 10 years have come to me precisely because their own property searches have been fruitless. They haven’t stopped at simply searching online – many of them have spent long weekends and holidays viewing houses, often at great expense. Moreover, the problem often isn’t a lack of information, it’s actually having too much information. And all the factors involved in finding the right property make it a complex, difficult and life changing set of choices.

Often, online property details just don’t tell you everything you need to know. Of course, you can eliminate a great many properties that clearly don’t meet your criteria, but that can still leave dozens of properties which seem to match your needs. How on earth do you choose? And conversely, are you eliminating properties you really should be giving a second chance?

A property search agent will use his/her knowledge of your requirements, goals and budget as well as a wealth of local knowledge to help narrow the search and help you choose the right properties to visit. They will turn the overwhelming number of factors, considerations, choices and compromises you have to make into a manageable process through which you’ll end up making better decisions.

Moreover, what about the information that isn’t published on the Internet? There are many things property details don’t expressly tell you; such as whether nearby roads are noisy or congested; whether a village might be cut off by snow in winter or crowded by loud tourists in summer; or whether it might be exceptionally difficult to get planning permission for changes to the house in question. These are just a couple of examples of information you won’t find in property details, either on paper or online.

Search engines just do what they’re told. If you want to live in a certain village, that’s all well and good. But a search engine will never say “You probably wouldn’t like that village because… but I think this village might suit you better because…” At heart, a property search agent isn’t just about being a fount of information. They are also there to help you make the best quality decisions and to help you think about the things you might not have considered. Buying property is a whole process, the outcomes of which will tremendously affect your life.

CASE STUDY“This card expresses how we feel and we are so grateful to you for all your help, quiet advice and support. As the saying goes –we couldn’t have done it without you”

RN, 2012

CASE STUDY“Nigel identified the perfect area for us enabling our various hobbies and commitments to be pursued and in an area that has so many like-minded people we have made some wonderful friends for life. Without Nigel, we would still be in Suffolk, very frustrated.”

JP, Suffolk

What Do You Really Want?When it comes down to it, everybody wants a whole lot more than a certain number of bedrooms, or a specific type of garden. Ultimately, everyone wants to move because of lifestyle.

‘Home’ is such a personal thing that it’s often hard to match it up with the houses you see (probably not decorated to your own taste). It’s important to understand what you want more of and what you want less of.

• What kind of lifestyle are you really after? • How do you want to live? • And how do you know when you’ve got there?

Whilst many of us harbour grand dreams about what we want, it’s important to work out how to translate that as closely as possible to the realities of work life, budget and family needs.

Often, searching for a house brings up creative tensions which must be resolved in one way or another. For example, a beautiful, country house may be perfect for a family, but if it dramatically increases commuting time each week, it may not be so ideal. Likewise, a rural property for an elderly couple may seem like an ideal choice, but in advanced years can often cause problems with travel, accessibility, healthcare visits and rural isolation.

The property search agent’s job is to help you navigate the tricky waters of finding a property you’ll love, past the rocky outcrops of realities and

CASE STUDYNigel worked with us for over 2 years to assist in a major family relocation from London to Devon. His approach is based on a clear understanding of his clients’ requirements which enables him to use his intimate knowledge of the areas that we were interested in – and also areas that we hadn't previously considered. We also found that our requirements changed over time as we got to know the areas a bit better and adjusted our expectations of what we could buy accordingly - Nigel was fantastic at working with us to identify what we really wanted and worked with us tirelessly through the process to a successful conclusion. We eventually completed on our property in 2010 after 2 long years of looking, in an area we had never considered. We love where we live and couldn't imagine being anywhere else – and it is thanks to Nigel's perseverance, knowledge and ability to work in partnership with us that enabled us to achieve everything we wanted."

Bill Roper

financial constraints. We’re in the privileged position of listening, understanding what you really want, and working out the cleverest way of getting you there.

And we won’t be afraid to tell you if what you’re looking for is an impossible dream. The short, sharp shock this may bring, far outweighs the dull ache of an endlessly long property search where nothing meets your expectations.

‘Off Market’ PropertiesIn the rockier property markets of recent years there is a whole cadre of property owners who don’t want to see their properties linger on the market. So they quietly tell a number of those in the know that they’re inclined to sell but do not want to advertise, and it becomes an off-market property. The property is never advertised, but should a potential buyer come along, they will be open to viewings and offers. Well-connected buying agents will often hear about properties which are ‘off-market’, but potentially for sale to the right buyer. It’s very much about having the right contacts.

Your Budget Budget is the crux of everything. And it comes down to this question: are you being realistic with your budget? This is one of the first questions we have to determine in any potentially budding property purchase. Gone are the days of derelict cottages

CASE STUDY“The company’s fee was insignificant. Nigel advised making a lower offer and carried the negotiations through to exchange. We actually made a saving!”

Dr. Grant McAree

crying out for renovation. And when they do appear on the market, they rarely go for a song. We have become a nation of property developers, downsizers and professionals escaping to the country. If what you expect to achieve within your budget is unlikely to be achievable, a search agent will plainly tell you and help you work out options that can potentially achieve much for you whilst remaining within realistic expectations.

Your Shortlist of PropertiesOnce we’ve understood what you really want, we work to find you the places that most closely fit your criteria and requirements. In most cases we’ll visit them before you even set foot in the county and report back to you.

Sometimes, having one feature means you have to forgo another, and this sets up a creative tension which requires thought and care. Every single property purchase involves compromise of some sort or another, so visiting your shortlist of properties is an important learning process.

It’s A Learning ProcessEven visiting a property which doesn’t tick all the boxes can teach you a lot about what you really want and value.

It’s very often the case that when you visit a property you thought was perfect, the viewing throws many of your assumptions out of the window. This is to be expected, and a good search agent will help you discuss and make decisions, gently guiding your search towards the right property through a number of viewings.

Sometimes you find the right property quickly. At other times it can take longer for your plans to come to fruition.

When You’ve Found ItThe moment you’ve found a property you want to buy is the moment a property search agent really excels at handling everything for you. Suddenly surveys need to happen, negotiations tactfully handled, solicitors apprised, deeds done. When you’ve got someone impartial on the ground it can all be a lot easier, nurturing the whole process to completion with kind words and perhaps, very occasionally, some stern ones too!

NegotiatingIt’s invaluable having an objective, detached expert handling your negotiations for you.

Negotiating is a difficult thing. When you’re making an exceptionally large financial transaction, negotiating can become a very personal and delicate business. It’s all too easy to be impulsive and emotional. And for good reason – you’ve found something you really want.

A property search agent will give you sound advice about local property prices, working with you to arrive at an intelligent offer based on knowledge of the vendor’s circumstances, the property market and also how much the property is worth to you.

It’s just as important to avoid offers which are too low, as those which are too high. Vendors can easily be offended and it’s important to make offers which will be taken seriously. Of course, all of this boils down to the psychology of negotiating and buying.

Unless you’ve had significant experience in negotiating and buying property, it’s useful to have an impartial expert represent you in your negotiations. We’ll advise on how to make an offer and when to make it. We’ll make the offers for you to provide a buffer and give you peace of mind.

Purchase And CompletionWhilst it’s easy to feel that the pinnacle of the transaction is having an offer accepted, it’s most commonly after this that problems tend to happen.

With your expert on the ground and looking after you, the search agent’s job now is to nurture the whole process through to completion. A whole variety of trivial issues can cause a purchase to stall at this crucial point. But a seasoned buying agent with plenty of purchasing experience will know the difference between trivial matters of no concern and items which deserve a closer look before proceeding with care.

With an objective agent working for you alongside all parties to manage the transaction, the process simply tends to run more smoothly.

Choosing A Property Search AgentAssuming that you’ve decided to use a property search agent, what should you be looking for?

If you read no further, the most valuable piece of advice I can give you is to find someone you feel comfortable

dealing with. Buying property is a very personal process and often touches upon issues close to the heart. It’s important to find a search agent you feel has a clear understanding of you.

It is an absolute pre-requisite that your search agent should have a substantial body of property buying experience. Don’t be afraid of testing property search agents on their buying and negotiating ability.

Ultimately a search agent will know which properties are worth looking at, and those which are not. They’ll be able to see the potential in a property you might never have considered on paper. And they are expert negotiators who can guide you through the tricky and sometimes emotionally charged process of agreeing a price.

They also know people. Not just in terms of a healthy contact book, but also in terms of understanding people. They work to understand exactly what kind of property is going to make you happy. And if it exists for you, they will help you find it.

In terms of price, a property search agent will be able to guide your expectations about what’s realistically achievable within your budget.

The sum total of all of this is that a good property agent will save you time, money and stress during the buying process. But more than this, they can help you buy a house you’ll really love and which meets your work, family and lifestyle needs.

We produce value by helping you make the very best property purchasing decisions for your happiness. And since property tends to be one of the greatest financial commitments you make, it’s really about making the biggest decisions in life with expert help.

Who Can Benefit Most?Some people can certainly benefit more than others by using a property search agent. This is not an exhaustive list, but includes:

British ExpatsMoving within the UK and making a house purchase from any distance is difficult. It’s harder if you’re in another country returning to the UK, especially with

significant time differences. Here, a buying agent can really handle the workload for you and act as a point of contact for the entire purchase.

Time Poor BuyersClearly, if you are unable to afford the time to handle your own property search and buying, then outsourcing might be less an affordable luxury than a necessity.

Retired IndividualsOften retirement is the point at which many possibilities open up. No longer geographically tied by work or children’s education, the option to move to a beautiful destination like the South West and its 630 miles of coastline become a reality.

Less Experienced BuyersWhat constitutes ‘less experienced’ is a matter of perspective. If you’ve bought less than 3 houses in the past 10 years, the chances are that you’re not a seasoned house buyer. The less experience you have, the more important it can be to seek professional advice and reassurance in what is often one of the largest financial transactions you will make in your life.

Even if you’re close to finding the property you want, it may still be worth using a buying agent for the negotiation stage and to ensure the purchase goes ahead smoothly.

Unique RequirementsIf you are looking for a property with some unique characteristics, the chances are that you could benefit from using a property search agent. In some cases, property buying might be affected by a disability, for example, making certain requirements especially important.

Should I Use A Property Search Agent?This is only a question that you can answer. It depends entirely on your personal circumstances. Typically, the more expensive the property purchase,

the more worthwhile it is using a professional buying agent to help you get the best deal.

Perhaps the best way to give it a clear perspective is to listen to the experience of those who have been through the process.

These are comments from clients of Recoco over the past 5 years:

“The company’s fee was insignificant. Nigel advised making a lower offer and carried the negotiations through to exchange. We actually made a saving!” - Dr. Grant McAree

“The dust has settled and we have now been living in Devon for six months, so I wanted to write to thank you for your help and guidance. We were nearing the end of our tethers when Julie and I met you: the task of relocating home and business to Devon had become a real chore. No fun anymore! I was impressed with the patient way you got to know us and within the space of just a few meetings turned the onerous task back into an adventure once again. Your knowledge of Devon is encyclopaedic! There’s no other word for it; you seem to know every hamlet and village, as well as the glorious market towns that Devon has in abundance. We looked forward to exploring with you and when we found what is now our home, the negotiations and horse trading went so briskly and seamlessly that home buying was a pleasure.

As for the money? What I was prepared to offer for the house and what we ended up paying were different figures. Not only did you guide us to the right area and the right property, but you saved us money. The difference between what we paid and what we were prepared to pay more than covered your fee – so in fact, your services are free! I also valued your guidance on relocating my business and my staff and I are now happily settled in our Tavistock accommodation. Once again, your comments were succinct and pertinent. I too am in the service sector so appreciate receiving a value-adding experience. I think that’s the best way to sum up our experience of Recoco: at every step you added value.”- Mark Davison, 2011

“This card expresses how we feel and we are so grateful to you for all your help, quiet advice and support. As the saying goes – we couldn’t have done it without you”- RN, 2012

“We viewed about 30 properties in Devon before we met Nigel, but not one of them was a serious possibility. After Nigel became involved, we only viewed about 10 – but we considered all of them. We were very impressed with the way he took time to get to know us and really find out what we wanted, and helped to guide us even when we weren’t quite sure ourselves. He really does seem to know every little village in the area, and house hunting went from being a bit of a headache to being an exciting adventure once again.

He also seems to know everyone and was able to show us properties before the ink was dry on the particulars. Nigel cheerfully goes the extra mile and we’ve ended up with the perfect property.

Even though we were making the purchase from a distance, it was all pretty stress free thanks to his help. We wouldn’t hesitate to recommend Nigel to anyone looking to buy a home in Devon.”- Mark Hensman, Oct 2009

“Having worked with a number of property finders across the south of England, Nigel has proven through experience, a broad range of personal contacts and extensive knowledge of the South West, he can constantly deliver. From initial search through negotiation with agents and solicitors, he has provided the most comprehensive and bespoke service for this demanding client.”- MR, London

ConclusionWhatever you decide, I sincerely hope that reading this has been helpful to you wherever you plan to buy property.

Should you decide to move to the South West with its 630 miles of fabulous coastline, wonderful countryside and relaxed pace of life, I’d be very happy to talk to you.

If you’re looking to move elsewhere, I suggest you type “property search agents” plus the county in which you will be searching and start by calling up a few search agents dealing with those areas.

About Nigel BishopNigel Bishop has worked in the South West property market for over 36 years. During that time there’s practically no village or town in Devon which he hasn’t visited and his knowledge extends well into Cornwall, West Dorset and Somerset.

After owning a chain of estate agents in Devon & Cornwall, Nigel founded Recoco in 1999. Since then he has solely represented buyers of property, helping those relocating to find the right property make the purchase successfully (and happily).

In his career, he has been involved in over £500 million worth of property transactions, as well as working on commercial developments, and of course, developing his own property.

To contact Nigel, please call +44 (0) 1392 433 554 or email njb@recoco.co.uk

www.recoco.co.uk