Buying a home in Britain when you are thousands of kilometres away in Hong Kong can be a daunting task.
To cater for the growing number of overseas buyers looking for homes in Britain, a plethora of buying agencies, also known as homesearch companies, have appeared. Some are big and have been in the business for decades.
After 24 years, upmarket buying agency, Property Vision, has built up a staff of 50.
By following a brief from the client, these agents compile a shortlist of properties for viewing, and, provided one of these catches the buyer's eye, will negotiate a price on their behalf.
Many buying agents are former estate agents. The well connected among them hear about the best properties available before they come on the market. Many agencies are one-stop shops for buyers who are relocating or investing in Britain. Brahm Estates and Quintessentially Estates help clients with moving in, even with organising a house-warming party, and provide interior design services.
Buying agency registration fees range from GBP500 (HK$7,890) to GBP2,500, and they charge commission on the purchase price which ranges from 1.5 per cent to 2.75 per cent. Some firms, like Quintessentially, deduct the registration fee from their commission.