And What Is a Property Buying Agent Anyway?

A review of why retaining a property buying agent when considering purchasing a house, in particular in a foreign country, in this case Italy, can bring strengths to the buyer.

It’s probably fair to say that real estate agencies or realtors are viewed pretty dimly in some quarters. Indeed, I have, and only recently, come across some charlies with very sharp (and might I say tight) suits shopping suspiciously like they wanted to sell me the Eiffel Tower. Not the kind of people you would welcome with start arms into your family home and proudly show off the silverware to. And there’s the problem: When someone calls us you can sense the suspicion down the line. “Where’s the find? ” is the unspoken question squeezing itself between the many spoken ones. Even worse when you arrange to meet and you can truly see their sceptical thoughts forming over their brains in bouncy speech bubbles.

Property buying agents almost certainly know the market much better than you. It’s true, you’ve probably also been on holiday to Venice or Lake Como or Slenkstis or whatever far more often than we have. But were being you actually conducting an in-depth, from the inside out, study of the home market or just sunbathing? And not only, while you were on holiday around, say, the province of Siena, were you together in the province of Florence, Pisa or down on Maremma? Probably not. And if you were, do you know how those regions compare to places in, say, the colline piacentine, in the terms of price and property typology (and weather)? Doubtful. So , there’s one serious advantage of retaining real estate buying agent; they should be able to give you good info on not just for your area of choice (and property of choice), but also various other comparable areas you may never have even heard of, but could possibly, ultimately be better for your requirements.

Another big plus is the time period we save the client. To illustrate; some dear guys a few years ago requested a country property, and it had to be ‘silent’ but within easy reach of at least one international airport. (Sometimes, you undoubtedly do feel like you’ve accidentally taken the same drugs Alice in Wonderland inadvertently took and ended up at the Insane Hatter’s tea party – I mean, honestly. ) What number of properties do you think we viewed on behalf of this client, not only for to make sure they were beautiful country homes falling within the look for brief requirements, but that also if you stayed right now there for any length of time, they would be silent enough? But , sooner or later we did find enough to organise a viewing getaway with the client. How much time do you think we saved this guy at a never ending list of properties, sometimes several times, before many of us selected 4 which we deemed worthy of bring him or her to? So , that’s big plus number two: property purchasing agents save you lots of precious time.

Here’s the third reason: You aren’t retaining someone with a more in depth understanding of the getting process than yourself.

To illustrate: While perusing the very documentation for a rather large country house with 16 ha of garden, olive groves, vineyards, pastures along with woodland attached, our architect noticed a small anomaly from the visura. The visura is one of the documents issued by the First-rate Land Registry which details the property and land which is the basis to calculate taxes due when purchasing. The property was built on the ruins of an old podere, very much enlarged and boasting enormous picture windows (all the higher quality for enjoying the views of the private valley). The very visura said this luxury home was still a town building. Now, honestly, how many poor old Tuscan contadini with their trousers tied up with string are going to spend their afternoons on sun loungers by an Olympic-size pool, between beautiful girls in bikinis, sipping on Pina Coladas? We thought probably not many. But , technically, as a farmville farm shed the house had no tax liability. So , one person was being imaginative – and it wasn’t the sheep.

The main suspicion was that when the new house was put up, to stop or at least postpone the day when taxes had to be paid of what was now a large residential property and not a shed, a bit deal had been done with the local town authorities. Surprisingly, the main estate agent said not a word, but the matter was evaluated by our lawyers and architect. Why? Because when sale the new owners, the clients we were representing, could very well have found themselves on the wrong end of a hefty property or home tax bill. But who would have said ahead of time if not someone held on to to act wholly in the interests of the buyer.

Here’s yet another story; an estate agent I know, working for a respectable international attire, had a particular property on the books, sat, unfortunately (unless you’re a plane spotter) bang under a airline flight path. However , this rather astute character would usually clients to view when there was a gap in flights around 40 minutes, which occurred early afternoon. And really want to? The argument was, they’d been retained by the retailer to sell and that’s just what they were doing…

We too do our fair share of plane spotting, but , as a rule, as a result of forewarn the prospective buyer. I’ve also spent efforts hedges listening to the road, counting how many trucks pass, in case the innocent looking building down in the valley emits business noises after lunch and lots of other odd things that travel estate agents mad and infuriate sellers.

And why is that? Must be genuine buying agent should be doing their best to work only in the buyer’s interests; and strangely enough, we’re referred to as buying agents, and if that isn’t a giveaway, I are clueless what is.

This article was written by Paul Hudson, a property acquiring agent working for Word & Buyer Ltd, a UK-based property buying company which sources prestigious property for Italy and also in the UK, above all in London.