Property Search Companies Defined

What do property search companies do?

Property search companies came about at the beginning of the 1980's when the industry was founded. Their job is to find property for retained purchasing clients and secure that property for them. You can split what we do into four components. The first is to actually find the property. The second is to view and analyse that property; evaluate it, market appraise it and work out if it really is the right property for our clients. The third is to negotiate that property; negotiate the price and the terms usually with estate agents and the property's seller. The fourth is to tie up the whole deal so that the property is secure for our clients.

What are the benefits of using a property search company?

With property search companies, the benefits of using them are myriad. Property search companies are probably the most important financial decision that our clients are making, and therefore want to get it right. They want to make sure that they see the market as a whole. Clients want to make sure that when we find a house, it is the right house for them. Sometimes we will pull them back from a particular house they like, but if it is the right house, they want to be sure that they're going to get it at the best possible price. This is a very important financial decision, and the property search company will benefit the client by negotiating the best price on their behalf. The property search company also benefits the client as they make sure that that process is relatively stress-free by giving them time to think about their position and how much they might want to offer or counteroffer. When their offer has been accepted, they can be pretty sure that the property search company is going to drive that deal through to completion and secure that house.

What information do I need to give a property search company?

You need to give your property search company as much information as you possibly can. Of course, property search companies need information including where you're looking, what you're looking for; in terms of the number of bedrooms and the amount of space that you need. As importantly though you really need to open up to the property search company and let them know information on the kind of lifestyle that you want to lead, how you want to lead your life, where your family might be, where your friends might be, and how that will work.

How much will it cost to use a property search company?

The cost of a property search company varies hugely depending on the property search company that you might look to retain. The first thing is that there is usually a retainer fee and that retainer fee is anything between three hundred pounds and three thousand pounds. Then on successful purchase, usually on successful exchange of contracts you will be expected to pay a fee on the purchase price which again will depend on the property search company that you employ. That would be between 1 per cent and 2 and a half per cent.