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Are buying agents worth the money?

Journalist: Ruby Hinchliffe, The Telegraph

ended 15. November 2023

We're writing an advice piece on whether it's worth paying a buying agent tto help you buy a home.

I've spoken to three buying agents, so now keen to open the floor to other professionals whose clients are buyers or sellers. Any horror stories? Or generally worth the money? Are there any alternative, cheaper options which could provide a similar service?

3 responses from the Newspage community

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Editor
Michelle Lawson
Director at Lawson Financial
Buying agents can be valuable if they are experienced. I had a client use one out of their area last year and nearly bought 2 'dud' properties. A Damp Report was needed but the agent provided a report from 2000 and thought this would be adequate. He had no contacts and no real knowledge. A good one with the right contacts could be worth their weight in gold however the largest obstacle is that, like estate agents, they are not regulated so there is no real comeback or recompense when things go wrong. Also, most can avoid this cost by doing their own research and use their mortgage advisor to the max for advantages and pitfalls. We are not just for mortgages, we have extensive knowledge and experience to share.
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Mike Staton
Director at Staton Mortgages
Is this a thing? It just shows the impact that Netflix is having on the Instagram Generation. What next? Tesco picks your shopping, delivers it and cooks your meals too.

For me this would be a completely unnecessary part and adds an extra element to an already overcrowded process, the industry does not need another unregulated and unqualified person in the process of buying a home.

A good Mortgage adv isor should be helping you with all of the additionals that a buyer would be offering and as the Mortgage Advisor is regulated, it would be a much safer bet than somebody who learned their trade from binge watching Netflix & Facebook during lockdown
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Nick Harris
Co-founder at Quarters
Yes - like any profession, the good ones do add value. As sales agents we're able to offer buying agents homes which aren't publicly advertised, allowing them to present off-market opportunities to their clients while our clients are afforded some discretion (as one client put it 'not everyone wants to see their bedroom on Rightmove!').