UK HMO Property Sourcing Agents
In the UK, property agents can generally be divided into two main categories: estate agents and sourcing agents. Here are the differences between the two:
Service Model
The main business of an estate agent is to represent sellers or landlords in selling or renting properties, while a sourcing agent represents buyers or tenants in finding suitable properties.
Client
The primary clients of an estate agent are sellers or landlords who are selling or renting properties, while the clients of a sourcing agent are buyers or tenants looking for properties.
Scope of Services
Estate agents typically only provide services related to a specific property, such as property valuation, property sales, and screening of buyers or tenants. On the other hand, sourcing agents provide more comprehensive property investment services specifically for investors. These services include market research, property search, assessment of investment value, negotiations with sellers, and some sourcing agents like us even handle post-acquisition refurbishment, arranging letting or flipping of the property.
As a sourcing agent, we can provide the following advantages for our clients:
We possess extensive knowledge and experience in property investment, enabling us to provide clients with professional advice and opinions.
Broad Search Scope: We can obtain the latest property information through various channels, including websites, social media, and property trading platforms. Additionally, we can also search for more hidden properties on the market.
Screening and Evaluation: We screen and evaluate potential properties to ensure that they meet our clients' needs and standards. We conduct property inspections and provide professional advice and opinions to help clients make wise purchasing decisions.
Negotiation and Transaction: We have extensive experience in negotiation and transactions, enabling us to help clients obtain the most favorable prices and conditions. We can negotiate on behalf of clients, ensuring their interests are protected.
Refurbishment Projects: We have our in-house building team specializing in HMOs (Houses in Multiple Occupation), who are familiar with the UK government's specifications for HMOs. We can assist investors in refurbishing properties into compliant HMOs at the lowest cost, thereby earning higher rental returns.
Guaranteed Tenancies: We have our in-house construction team, who are familiar with the HMO specifications required by many city governments in the UK. We also partner with multiple HMO leasing companies and large government housing agencies, enabling us to quickly arrange for tenants for our investors.
Comprehensive Service: We can provide our clients with a comprehensive service, including property sourcing (including screening for investors, arranging for property viewing and filming, and negotiation), property management, leasing, and selling services. We can assist clients in handling all property matters, reducing their burden.
Therefore, if you are looking for property investment opportunities in the UK, we can be your reliable partner!
Service Fee
The service fee of an Estate Agent is typically a percentage of the transaction price, usually between 0.75% and 1.42%. On the other hand, the service fee for a Sourcing Agent is usually fixed, with the specific price varying depending on the agency and the specific services, typically ranging from £1,000 to £5,000.
Job Description
The main responsibility of an Estate Agent is to represent the property seller or landlord in negotiations with potential buyers or tenants, striving for the highest transaction price. Therefore, the interests of the Estate Agent usually align with those of the seller or landlord, maximizing their benefits. On the contrary, the primary responsibility of a Sourcing Agent is to represent buyers or tenants in negotiations with property sellers or landlords, striving for the lowest transaction price. Therefore, the interests of the Sourcing Agent usually align with those of the buyers or tenants, maximizing their benefits.
There are significant differences between Estate Agents and Sourcing Agents in terms of service targets, service fees, and job content. Estate Agents primarily serve property sellers or landlords, charge higher fees, and aim to achieve the highest transaction price; whereas Sourcing Agents primarily serve property buyers or tenants, charge more flexible fees, and aim to achieve the lowest transaction price.
