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What is a ‘hot buyers’ list?
A ‘hot buyers’ list is quite simply a list of serious buyers. People who know what they want, how much they want to spend and who are in a position to close the deal quickly. These are the people the agent will call first. You want to be one of them!
So, how do you get on the ‘hot buyers’ list?
Make the estate agent’s life easier
If you want to get on an estate agent’s ‘hot buyers’ list, you have to be an easy customer. Fast sales are key to them making a living. If you have your ducks in a row, you’ll be viewed as the ideal buyer. It’s advisable not to reveal all your cards just yet – remember, the agent works for the seller, not the buyer, (except for us at BC Property!)
Here’s some important information to share with the estate agent:
· Have your finances in place e.g. a mortgage agreement in principle if you’re a first-time buyer
· Are you in a chain?
· If you’re in a chain, how far along in the selling process are you?
· If you’re renting, how much notice do you have to give your landlord?
· How quickly could you complete?
· Your availability for viewings
· Have you got a solicitor in place?
· Your list of requirements (ensure they know you’re prepared to compromise if necessary)
Be available and flexible
If you want to be at the head of the queue, you have to be flexible, available and easy to get hold of. If the estate agent calls, pick up or call them back immediately. You have to be willing to meet them halfway and not go silent on them. Otherwise, you’ll lose your position in the queue and all your hard work will have been for nothing.
In today’s market you need the estate agent more than they need you.
Accept some things are out of your control
Like everything in life, there are variables in the property market and these can be beyond your control. Accept this and it’ll make your life easier.
These are just some variables in the housing market you may have to deal with:
· Rising or falling interest rates
· Major disasters that have a significant impact, both foreign and domestic
· Political or legislative changes
· Market conditions at the time you need to sell or buy
If you want to guarantee property success you should aspire to work your way onto the ‘hot buyers’ list and stay there!
Know the facts
Before you settle on a property and an area, it’s important to know what you’re getting yourself into. It can be advisable to do this before approaching estate agents – after all, changing your mind about what you’re looking for will give you a reputation for unreliability with agents. Do the research – find out about local schools, amenities, crime rates and more.
Source: moveiq
Do you need some right property buying advice?
Whether you’re buying a leasehold or a freehold – you’ll need expert advice. The world of property can be a minefield!
At BC Property UK, we help clients to link up with professional conveyancing solicitors, feel free to contact us for more details.
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