15th October 2007
- Preparation - Never ever go out viewing property until you have arranged financing.
- Have clear & realistic property requirements - knowing exactly what you want and where you want it to be means you can reach good decisions quickly and buy with confidence.
- Agent relationships – have as many and as strong as possible. To get the earliest information on the best properties you’ll need to stand out from other buyers. Be organised, be on time, be committed, be available, and always be nice! Your capacity to reach decisions quickly and exchange contracts within a tight timescale is of great interest to estate agents and their clients. Demonstrate you can do this and you will improve your chances of having phone calls returned by busy agents.
- Always tell the estate agent what you thought about a property. Agents need feedback, firstly, in order to develop a more detailed picture of what you are looking for and secondly, they will be under pressure from their clients, the vendors, to keep them updated on viewers' responses to their property.
- If you know its right, move fast. Up to date price information on the local market is key to successful negotiation. The more you have the better you’ll fare.
- It's not just price that's negotiable – try to include exclusivity, timescales, fixtures and fittings into the deal. Even low offers can become more favourable when confirmed in writing with information on funding and legal arrangements. It really helps to demonstrate how organised and committed a buyer you are – there are plenty who aren’t.
- Never think no news is good news. Once the price is agreed it’s crucial to inject momentum into the deal. It’s far easier to keep things moving than it is to try and speed them up. Communication is vital. It’s your money and your deal – you need to manage it.
© Phil Spencer
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