What To Look Out For When Working Through Property Investment Agencies
In the modern-day of sourcing high yields or trying to educate yourself on up and coming property investment hotspots, you will likely be in contact with a property investment agency, the majority can offer eye-catching property opportunities so the too good to be true mindset can start to take shape in one’s mind. The UK property market can be a very saturated industry and can be somewhat confusing, especially for first-time investors. I will hopefully give you a sense of what to look out for and direct you on an easier way on how to deal with property advisors and companies opposed to being clouded on your investment search.
Estate Agencies
Can be overwhelming especially if you have certain property investment criteria.
Firstly you want to be checking how long the company you decide to communicate with has been operating, even if the company is brand new you can start to gain an idea purely from communication on what market experience they have. local estate agents will only tend to have stock of the area they cover, they will rarely get involved in the investment research behind the property and instead allow the property to sell itself to the right homeowners, also their database of investors will be minimal if you want to take me as an example when I started out in estate agents, we had around 25 local investors. If you are looking for a property investment trying to deal with an estate agent can be difficult since they tend to favour their local investors opposed to outsiders as I did at that time.
Being a property investor myself, you ideally want to be dealing with a specialized property investment outfit. Agencies in this field using my own role as an example should carefully take in your requirements, budgets, and goals. The wrong outfits are those that do not have a care and simply send you whatever they have. A property purchase is a huge commitment so an element of seriousness is needed, I would personally recommend agencies that package up investments that they have involvement in as well whether that be the management, exit strategy, and client care.
A few key points you should always share with the company you decide to partner with:
Budget/method of purchase
Your time, will it need to be managed for you
Are you searching for high rental yields or more capital driven
Long term goals
Your experience
If you have found the right partners then the points above should be seriously noted when recommending property deals. I would highly recommend giving our educational and strategy page a good read to understand what would suit you, links below:
