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PROPERTY NEWS - June 2003
Buying
or Selling ?
Travelling around the counties and talking to the agents it is apparent that the market is changing. Comments made to be by an agent that it is a buyer's market and from another that he has refused instructions because the owner of the property would not agree to quote a sensible price are not made lightly, for most agents are eternal optimists.
There is a lot more property available and I am constantly encouraged by agents with some very bold suggestions to "try an offer" on behalf of a client. This I believe is where Chartered Surveyors and fully experienced Relocation Agents can come into their own and really earn their fees. I recently acted for a professional man and his family who had previously found a house. They refused to proceed further after an unsatisfactory survey and the unwillingness of the owner to renegotiate. My client admitted that he had neither the time, experience nor patience to handle the negotiations and when two months later he noticed that the house was still available, he asked me if I would handle the matter for him. After some "toing and froing" between the agents, the vendor and myself, I was able to "make my client's weekend" when I informed him on Friday evening a week later that I had agreed the deal, at a much more favourable price.
A "go between" like a relocation agent doesn't get involved in the emotions of the transaction and can keep a level head in your interest, when the pressure is on. If he is experienced and like myself had a background in estate agency, he will be familiar with the pattern of the negotiations and the climate at the time. Sometimes you need to stand firm and sometimes give a little, but it is not always easy to do this and remain dispassionate about a property that you are very keen on. Therefore a third party can invariably handle the matter better for you.
Currently I feel that this is a good time to buy. Although now the Iraqi situation has eased, some people will tell you that prices are rising again, I personally am not convinced of this. It is like so many things in life, it is easy to make the figures say what you want them to say if you take different criteria and dates.
I have at the moment three clients seeking Building Sites, all in different counties and of a different size and situation. This I find is one of the hardest tasks to do, as they are something like the proverbial gold mine and the competition for them is strong. The price obtained now for a good site is considerable and it is not a project to be entered into lightly, unless you have the expertise or can get some first class advice.
Written by Michael Chandler
FRICS.
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