Buying agents: Avoid like the plague

Legacy_user

I have just had a really bad experience with a buying agent. They are shifty as hell, and my advice is to avoid them like the plague. Please do not get taken in by their smooth talk, it is just sales patter. You can buy property very well yourself without them, and don't let them try to convince you that you need them.

eddddy

Diocletian_II wrote: »

I have just had a really bad experience with a buying agent. They are shifty as hell, and my advice is to avoid them like the plague. Please do not get taken in by their smooth talk, it is just sales patter. You can buy property very well yourself without them, and don't let them try to convince you that you need them.

It sounds like you're basing your comments on a sample size of one - which may not be very representative.

Although I'm not sure I see the benefit of buying agents.

Why did you choose to use one? What benefits did they tell you they would give you?

And have you paid them any money (which you have now lost)?

System

Sample size of two: The useless one I took on was 'recommended' to me by a high profile buying agent, whom I had contacted. I later discovered she was his next door neighbour in a tiny rural village, although neither declared that to me. I paid a £2400 retainer, which was a complete waste of money.

Tottington

What does a buying agent actually do?

sal_III

Now I'm curious what a buying agent is.

System

Not a lot, except persuade you to let them part you from your money.

System

They supposedly find you somewhere you want to buy and do the negotiating. I think their business model relies on taking lots of retainers, regardless of whether they find properties or not. So it's all a con.

hazyjo

I'll do it for you for £500 lol


So pretty much Phil & Kirstie/Location Location Location?


Why not just look on rightmove? Was it the negotiating you weren't comfortable with? That's the good bit

System

eddddy wrote: »

It sounds like you're basing your comments on a sample size of one - which may not be very representative.

Although I'm not sure I see the benefit of buying agents.

Why did you choose to use one? What benefits did they tell you they would give you?

And have you paid them any money (which you have now lost)?

I decided to use one because I got taken in by their marketing patter that works to create a need. They work to convince you that you are mad not to use their services, and that you need them. It is all a load of rubbish.

System

hazyjo wrote: »

I'll do it for you for £500 lol


So pretty much Phil & Kirstie/Location Location Location?


Why not just look on rightmove? Was it the negotiating you weren't comfortable with? That's the good bit

Yeh, like Phil and Kirsty, but not them. I felt awkward about negotiating, but then I discovered the buying agent is just a burden in that regard, because they just want their commission, which is their agenda. And if it doesn't look like you want to buy what they want you to buy, they lose interest, having already taken your retainer. It's a twisted business model.

sal_III

Ahh so a Location, Location, Location type of deal. I get it.

I can see a genuine need for such service, especially if you are looking to relocate and/or day off work
to view and sift trough properties can cost you £100s/£1000s

It's not surprising that as in any other profession there are ones that offer poor service.

Can't comment on your personal experience, but sounds like it's partially your fault for being susceptible to such sales pitches if you claim you didn't need their services, yet still signed up.