Property Acquisition Companies
If you need help and advise with regard to structural surveys, building surveys, engineers reports, special defects reports, dilapidations, homebuyers reports or any other property matters please free phone 0800 298 5424 for a friendly chat.
Growth in Property Acquisition Companies
We have noticed a real growth in property acquisition companies, also called property search companies, sometimes called home search companies, in years gone by known as retained clients, also known as private buyers and sometimes called relocation services!!!
The benefits of using a property relocation company, as they would be called in the marketing world
The selling points of these companies, or the unique selling points, as they would call it in marketing, are they can buy you properties off market (as we can and they can), that you can buy the property for less because of their negotiation skills.
Relocation company unable to give property advice!
We have had dealings with some of these companies and they have asked us to give property advice as chartered surveyors. We find it interesting, intriguing and ironic that they do not feel able to give property advice, although we do like having the work as chartered surveyors we would have thought it was a basic requirement of what they do, that they understand the conditions so they negotiate the price of the property appropriately.
A few of the negatives of home search companies or property search companies
Many of these companies, regardless of what they say, are estate agents under a different name and many of them don't even use a different name! We are sure there are some ethics involved, although estate agents aren't known for ethics, where they can actually be the company selling the property and taking the fee and also introducing a client and taking a fee. They have just made a rather profitable transaction as, let's face it, there aren't many costs in estate agency work for their one to three per cent fee and they have just doubled their fees. Of course, there are even less costs with a home search company, as, in theory, they won't need to advertise the property as they introduced the buyer.
Costs of estate agencies and how estate agencies work
High street presence.
Advertising presence in local papers, i.e. the property section.
Advertising presence in magazines, such as:
In a good or normal market where properties are selling themselves there is minimal work. However, in a poor market this is a much harder situation, and, of course, minimal regulations to meet, although some do comply with the RICS (Royal Institution of Chartered Surveyors) or the National Association of Estate Agents requirements, and become a part of the Ombudsman scheme, which sets down a structured procedure and way to complain about estate agents, but we are aware that some of the biggest estate agents not to opt into this, as they feel the system is unfair.
Property search companies, home search companies, retained clients, private buyers, relocation services, or whatever you want to call them
How they work
High street presence not required, though it can act as advertising in the better areas.
Being seen in the right places, such as the appropriate clubs, Rotary, Free Masons, Round Table, etc, and keeping in contact with estate agents and generally getting known.
Advertising for clients to use their services.
Finding off-market properties
Just how do these companies find off-market properties, other than what the average person would normally do, i.e. talk to estate agents? In our experience, most do very little, other than what you would normally do, i.e. talk to estate agents. Many also run a mail shot and generally make it their business to keep in touch with the right people and to reward the right people, i.e. mainly estate agents or any good leads.
Is it worth using a home search agent?
We think it is, but only a good one! Only once you've spent some time understanding exactly what you want from a home and by this we mean what you really want and can afford, and that you are also able set down no can do items. These are items, which even if it fits all of your criteria, is, for example, on an airline path, or is on a septic tank (and has the associated smells), then it would not be suitable. You also have to be able to put down the must have items, i.e. within a three mile radius of schools, work, sailing club, etc.
When buying a property divide your needs from your wants
We feel a good exercise is to divide what you need to have from what you would like and make these out of ten. It is very interesting if the two partners carry out this exercise separately to see how close your ideas are. It is also very interesting for business partnerships to this carry out, as it may broach broader issues of where the company is going.
Advice from a surveyor
We would of course recommend advice from a surveyor. Not only will we be able to find you the property we will also be able to ascertain the condition it is in before we start negotiations. In our experience, most people offer a price on the property for it being in average condition for its age, type and style. This is exactly what we try and establish; whether it is in average condition for its age, type and style and adjust the value appropriately.
Other articles that may interest you:
How do you value a property?
As surveyors rather than using a finger in the air system, that's used by many in the property industry, we have to use the rules and regulations set down in the Red Book, which is our standards book, which uses a tried and tested system to establish a market value. We are more than happy to offer you this service to see if you really are getting value for money when you are buying your property.
Independent surveyors advice
If you truly do want an independent expert opinion from a surveyor with regard to structural surveys, building surveys, structural reports, engineers reports, specific defects report, dilapidations, home buyers reports or any other property matters please contact 0800 298 5424 for a surveyor to give you a call back.
If you have a commercial property, be it leasehold or freehold, then you may wish to look at our Dilapidations Website at www.DilapsHelp.com and for Disputes go to our Disputes Help site www.DisputesHelp.com .
We hope you found the article of use and if you have any experiences that you feel should be added to this article that would benefit others, or you feel that some of the information that we have put is wrong then please do not hesitate to contact us (we are only human).
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