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January 19, 2005
The Wealthy Use Property Finders
according to Nicola Venning, writing in this morning’s Times:
Whereas you and I traipse round estate agents’ offices, tired and bemused, the very wealthy pay someone else to do it. These days, no self-respecting millionaire steps over a threshold without their own housefinder.
She discovers that more than half their purchased properties in the country are aquired privately, before they reach the market. A London estate agent specialising in the top of the market reveals that up to a quarter of his enquiries come from property finders. So what would you expect to pay a finder? One-and-a-half to two-and-a-half per cent of purchase price, which I’m guessing might be offset against what the vendor saves if they’re not paying agency fees. It’s an interesting article. We recommend you read it.
Finally, the media are taking notice…but Nicola, where was our mention? 🙂