All the best houses can be found on Rightmove, right? Well, actually no. Increasing numbers of properties are being sold ‘off-market’ in an environment where there’s very little supply and a range of motivated buyers. How can you access these properties if you’re looking to move and how can you avoid getting stung?
There are some interesting misconceptions about the way the property market, particularly the residential market, in the UK works. Understanding the competing forces is wise in such a competitive market. Many forget that the role of an estate agent is to look after the interests of the seller, not the buyer. When you see a property online or via an estate agent, they’re showing you what they have on their books. The price of a property is determined partly from advice by the agent and often with the wishes of the vendor taken into consideration. As a buyer, you’re often left in the dark as to how much a property is worth and simply must make an offer based on what you can afford, what you think it’s worth and how much you want to pay.
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