Many people in the UK depend entirely on their own judgment when purchasing property, even though it’s usually the most significant financial decision they’ll ever make.

It’s not to be underestimated. The home someone buys typically sets the direction of both their financial and personal life.

While buyers generally seek advice on mortgages and legal matters, few consult experts to assist with locating a home, handling negotiations, or managing the entire process on their behalf.

This approach is quite different from sellers, who typically have estate agents to represent their interests, negotiate, and ensure the sale goes through.

For those buying, similar support is available from buying agents. These professionals are tasked with representing buyers’ interests, helping them find the right property, securing the best price, and guiding them through the legal aspects.

Nevertheless, many British buyers dismiss the idea of hiring a buying agent, possibly because they believe the cost doesn’t justify it for a less expensive home or due to high service fees.

We reached out to several buying agents to determine if ordinary people can utilize their services or if these agents are reserved only for the extremely wealthy.

Why should you use a buying agent?

Jo Eccles, founder of London buying agency, Eccord, likens not having a buying agent to going to court without a lawyer and says it’s normal practice in the US.

‘The UK buying and selling process has always been skewed in favour of the seller who has an estate agent advising them, whereas buyers are left to search and negotiate themselves with no professional advice – despite the fact that a property purchase is such a significant financial and emotional investment,’ says Eccles.

‘Just as you wouldn’t go to court without a lawyer, buyers benefit enormously from having professional representation throughout.

‘We work with lots of American clients buying in London and interestingly, in the States it’s standard to have professional representation on both sides. Most Americans wouldn’t dream of buying independently.’

Access to off-market deals 

It is no secret that there are plenty of homes on the market at the moment with Zoopla reporting there are 10 per more properties for sale than this time last year. 

However, the best homes always tend to sell quickly – and many of these will be snapped up before they reach the online portals.

Good buying agents tend to have relationships with local estate agents and this often gives them access to homes before they come on the market.  

Almost half of the properties acquired by buying agency Eccord in the last year have been off market, the firm claims.

‘One client came to us having shortlisted two houses on his own, uncertain which one to go for,’ explains Eccles.

‘We arranged viewings of both alongside five additional off market options for context. 

‘Afterwards, he told us that every single one of the off market properties far surpassed anything he had found independently.’

The role of matchmaker 

While some buyers know exactly what they want, many are a lot more vague or confused about what it is they are really after, according to Bishop.

He describes the role of a buying agent as something akin to a matchmaker. 

‘What we add is the objective, practical advice to the inevitable emotional aspirations of a buyer,’ says Bishop.

‘A property search is an extremely personal event in someone’s life so we want to really understand what makes our clients ‘tick’ but also introduce properties that they would not have considered. 

‘Often, house hunters are surprised that properties they would disregard can sometimes hold great potential and actually suit their current and future lifestyle.’

Eccles says that as much as being a matchmaker, it’s also about trying to help couples agree on a property.

‘We regularly work with couples who aren’t entirely aligned – often they can’t agree on the location for example, or whether they’re willing to take on refurbishment work,’ she says.

‘Having a neutral third party can make all the difference, helping them weigh up the options objectively and guiding them towards common ground to enable them to move forward with a purchase.’

Someone in your corner 

Buying agent, Jonathan Hopper, chief executive of Garrington Property Finders argues that a buying agent is about levelling the playing field. 

‘While anyone can scroll through property portals and set up viewings, many would-be homebuyers don’t realise that the friendly estate agent showing them round isn’t working for them,’ says Hopper.

‘Instead the estate agent is working for the seller, and their aim is to sell you the place at the highest possible price.

‘And while most people will only buy a handful of properties in their lifetime, estate agents negotiate deals every day. This is where a buying agent can be invaluable. They work for buyers, fighting their corner and giving them expert support and guidance every step of the way.’

Avoid buying the wrong home

Nobody wants to end up buying the wrong house for the wrong price, and yet very few will likely consider a buying agent to help them.

If a buyer doesn’t know the area they are buying in or doesn’t know what issues to look out for, they could end up in this position.

‘There are some streets in London for example where the houses at one end are tube-affected – you can hear the rumble of the underground, which you might not notice during a viewing but certainly will once you’ve moved in,’ says Eccles.

‘In situations like that, expert representation can help you avoid expensive mistakes.’

Buying agent Jonathan Hopper says that it’s not just about finding a suitable property, it’s also about negotiating the best possible price.

‘We act as a trusted adviser to the buyer,’ says Hopper. ‘We research, filter, and preview properties, so clients only ever view the most suitable options. 

‘Once the right property is identified, we negotiate price and terms with the seller using our hard-won, expert knowledge of the local market.

‘We’re professional negotiators, but our role doesn’t stop at the deal; we also provide insights and ideas on local schools, communities, lifestyle factors, and future resale potential.’

Support all the way through

Any half decent estate agent will admit that perhaps the most challenging part of their job starts once the sale has been agreed.

The legal process and surveys can throw up all manner of problems that can derail a sale.

Similar to an estate agent, a buying agent won’t typically stop once they have found and negotiated a fair price for a property on behalf of their client.

According to Jo Eccles a good buying agent should support the buyer all the way to completion.

‘Finding and securing a property for our client is only half of what we do for our buying clients,’ she says.

‘Once a purchase is secured and all the terms are agreed, we help build their team – including a lawyer, surveyor and any other experts they may need such as tax advisers and planning specialists – and work collaboratively with them to project manage the entire transaction through to completion.

‘We also have an in-house property management team who oversee the move once contracts have been exchanged, setting up utility accounts, organising removals and helping unpack. 

‘Every client receives a ‘property manual’ containing all the information they might need, from security alarm codes to the location of the stopcock and new Wi-Fi passwords. It’s about making their move as seamless and stress-free as possible.’

The relationship often even continues beyond the buyer moving into the property, according to Jonathan Hopper.

‘Many of our clients continue to ask for our help long after they’ve moved into their new home, whether it is with finding an interior designer, help with refurbishments, or providing care for a vacant property.

‘Families often return to us across the generations: one client engaged us to acquire a prime estate, later asked us to guide their children through the purchase of their first homes, and eventually relied on us to support an elderly relative with downsizing.’

How do you pick a buying agent?

A good place to start is by checking they have the necessary credentials. 

Buying agents are covered by the Estate Agents Act, which requires them to belong to a redress scheme such as The Property Ombudsman, be registered for money laundering compliance, and comply with data protection laws. 

Ideally, they should also be members of a respected industry body such as Propertymark or the Royal Institution of Chartered Surveyors (Rics).

‘Choosing a properly regulated firm gives you significant protection as the customer, but you also need to choose one with a track record of delivering results,’ says Jonathan Hopper.

‘Look for agents who combine significant experience and strong networks with a detailed knowledge of the areas you’re interested in.

‘Finally, don’t underestimate trust and rapport. Before committing to an agent, speak to them and gauge how you might get on; after all, this is the person who will be representing your interests in what is often the most significant financial and emotional purchase of your life.’

Jo Eccles suggests that asking the estate agent handling your sale or your lawyer could be a good place to start – but always check them out.

‘Choose someone who is an absolute expert on their patch, and who has an impeccable track record and clout with local estate agents,’ says Eccles.

‘When you’ve found a buying agent you like, ask them for case studies of other transactions around your price point.

‘Be aware that a buying agent who only acts for buying clients, never sellers, will generally achieve much better results. 

‘There’s a growing number of buying agents who also sell properties, putting them in direct competition with estate agents. 

‘This can create a conflict of interest, whereby estate agents are reluctant to share their best off-market opportunities with a buying agent they see as a rival, and you risk missing out as a result.’

Buying agent, Nigel Bishop, founder of Recoco Property Search, suggests searching for buying agents online in the area that you’re looking to buy in.

‘The first and most obvious step is to carry out an online search for the best buying agents in your desired area. 

‘Alternatively, we would advise speaking to local estate agents and other local property professionals who can make recommendations.’

Hopper warns people to be wary of using some buying agents who claim to act for the buyer but instead take their fee from the sales agent.

This is apparently a growing trend, particularly in London.

‘On the surface this can look attractive, as the buyer does not pay a fee, but it introduces an inevitable conflict of interest – such agents are incentivised by the seller’s commission, not the buyer’s outcome,’ says Hopper.

‘On high-value homes in London, the commissions at stake can be very large, which makes this a trend consumers should approach with great caution. A true buying agent works exclusively for the buyer, with no hidden loyalties.’

What fees do you charge?

A buying agent usually charges an upfront retainer fee and then a success fee once the purchase becomes legally binding. 

The industry norm in the UK is a success fee charged at between 1.5 per cent and 3 per cent of the purchase price.

On a £500,000 purchase price that would mean paying between £7,500 and £15,000 upon a successful purchase.  

Garrington Property Finders charge a fixed retaining fee to begin a search, followed by a success fee on completion. 

The majority of its fee is linked directly to its success, which they claim ensures their interests are completely aligned with those of the client. 

Eccord charges a £4,000 plus VAT retainer fee, which lasts for up to six months of searching. 

Once a purchase is legally binding, it charges a success fee of 2 per cent of the purchase price plus VAT – and the retainer fee is deducted from that.

Nigel Bishop says: ‘Fees very much depend on location. Generally speaking, buying agents in London will charge significantly more than buying agents in rural locations.

‘The standard practice is to charge an initial registration fee and a commission based success fee. We reserve the right to charge out of pocket costs and expenses if applicable.’

Do you have to buy a expensive home to get a buying agent?

One reason that most people won’t consider using a buying agent is they think it’s just for people buying £5million homes in London or the Cotswolds.

This is somewhat the case, but not for all buying agents. There are now many more options available for people buying property at more normal price levels.

For example, Garrington Property Finders has not set a hard and fast minimum property price they will consider.

‘Because Garrington operates across the country, property values for similar types of homes vary enormously, so price is not our deciding factor. 

‘What matters to us is the client’s circumstances, what they are trying to achieve, and whether we can add meaningful value.

‘That said, it is true that most buying agents, including ourselves, tend to operate predominantly in the upper quartile of the market. 

‘At higher pricepoints, the savings that can be negotiated, and the greater availability of off-market opportunities, mean a good buying agent’s service often pays for itself. 

‘At the lower end of the market, buyers can still benefit from guidance, but the financial gain may be proportionally lower’

Buying agent Jo Eccles adds: ‘There is really no price point where using a buying agent isn’t worth it.

‘Even at the lower end of the market a good buying agent can open up access to a much wider pool of properties, many of which won’t be listed anywhere online, bring rigour to your decision-making and expertly negotiate a lower price on your behalf. 

‘Not only will you make a better-informed purchase, but you’ll probably pay less too.’

Will buyers be charged a fee if they change their mind?

This will often depend on why the buyer decides to withdraw. If it is to do with problems with the property they are unlikely to be charged. 

However, most buying agents will charge a fee in situations where the buyers just have a change of heart. 

‘If a client pulls out of a purchase because something serious has come up on a survey, or there’s an issue with the deeds for example which can’t be overcome, we would be the first to advise them to withdraw,’ says Jo Eccles.

‘But if it’s just a change of heart we charge an abort fee, which is 50 per cent of our success fee, purely as a deterrent to help ensure clients are fully focused and committed to the offer they’re making.

Jonathan Hopper adds: ‘Like solicitors and other professional advisers, if a transaction falls through, we do charge a small abortive fee to cover time and out-of-pocket expenses, but there is no profit margin attached. If a replacement property is found, this fee is waived.

‘In short, we only prosper when our clients succeed, which is precisely how it should be.’