Demand outstrips supply in UK property
26 November 2009
As 2009 nears its end, the big noise in property is the lack of stock. Fear of a still unstable market is holding back all but the must-sells and the number of properties up for sale is in no way meeting the demand from homebuyers.
“We are certainly coming up against a lack of stock across central London, the home counties and the south east,” said professional buying agent Tracy Kellett of UK buying agent BDI Home Finders. “We are increasingly finding ourselves competing with three other buyers on the best properties.
“Today’s market has overtones of 2007, when we had to go and view immediately or properties would be gone”.
Partnership
Tracy, who has offices in central London and the home counties, said that in hard times, it is not unusual to see estate agents and buying agents working in partnership. Ever more, the homefinder is on the receiving end of tasty estate agent tip-offs about prime properties, long before Rightmove even gets a look in.
“After all, we’re all working towards the same end result: selling houses,” she said. “Estate agents know that a homefinder is a fellow property professional and has the time and most importantly, the drive, to see a sale through to completion.
Homefinder
“It’s near impossible for the average buyer to react as quickly as a buying agent can when it comes to viewing an in demand property. That’s why a homefinder is always first through the door.
“BDI Home Finders’ business-to-business relationship with the selling agents means that we’re in the best position to find out which vendors are keenest to sell and are therefore most likely to negotiate.
“Buying agents will often view properties that clients think are beyond their budget, because they have the insider knowledge that a deal might be possible”.
Tracy, whose company is a member of APFBA, the Association of Property Finders and Buying Agents, explains that although most won’t explicitly make the promise, homefinders tend to be self-funding. “More often than not, what we negotiate off the asking price covers our fees. Using a buying agent doesn’t have to be a luxury. It’s becoming an increasingly common part of buying UK property for busy people from all walks of life”.
For more information about BDI Home Finders please call us on 0845 603 6110 or contact us by email.
