The diary of an Oxfordshire-based buying agent
At Oxford Property Consulting, our team take the stress out of sourcing properties in Oxfordshire for residential, commercial and rental purposes.
The diary of a buying agent varies greatly. But there are processes we follow which are fundamental to our smooth operation.
In our latest blog, we take a behind the scenes look at how the Oxford Property Consulting team typically works on a weekly basis with Managing Director Ben Procter, Head of Residential Buying Greg Thomson, Partner Anna Mole and Search Consultant Lucy Fegan.
It’s time for our weekly meeting to discuss all clients and progress made with their searches.
During the meeting, we discuss:
- A positive second viewing of an off-market terraced house on Osney Island – we’re hopeful of this leading to an offer later in the week
- A new search in south Oxfordshire to get started on
- The good progress made on our four conveyances
- We’re also hoping for an exchange on or before Friday on a four-bed in Horspath
- An offer was accepted over the weekend for a north Oxford rental client
Anna and Ben conduct a call-out for the new retained search. Between us, we made around 100 calls to agents across Oxfordshire which leads to four properties to preview on Wednesday.
Ben has lunch with a local architect. While discussing mutual clients and projects, the architect discloses a development site which might be of interest.
Greg and Lucy visit a new listing. It’s a five-bedroom Georgian farmhouse in west Oxfordshire. We’re first through the door, and hope the property has enough land to suit our client. From here, we plan to get them to view the property as soon as possible.
Following an inquiry, Greg and Anna meet with a prospective client. They have been searching for a home for six months and have been frustrated by the competitive market.
It’s clear from our first meeting they want to access off-market properties. Their search requirements are similar to our client close to exchange in Horspath. Because of this we can’t sign them up until exchange to avoid any potential conflict.
Fortunately, the previous search means we are already aware of the area’s availability and homes which could be suitable.
Lucy begins an afternoon of viewings with rental clients in and around Jericho. The client is moving from overseas for her new University position and is only in the country for two days.
One of the five houses we view is perfect, but slightly over their budget. They decide to instead compromise on size and apply for another house which fits within budget.
Ben receives confirmation of an offer for the Osney Island house. After discussing bidding tactics with our clients, we decide to offer the guide price and commit to a 28-day exchange – with completion in the next two months.
As our client is a cash buyer living in a rental property, they are in a strong position. We have a surveyor lined up for two weeks’ time in expectation of their offer being accepted.
Anna and Greg are previewing four properties we sourced during our Monday call out. Anna views two properties near Bicester, Greg meanwhile looks at one in Longworth and another in Dorchester-on-Thames.
The two latter houses tick a lot of boxes, so we will include them on our first viewings with new clients.
Good news! The offer for the rental house on Cranham Terrace has been accepted. We forward on identity documentation and prepare our client for the next steps of referencing and signing the tenancy agreements.
This will take a few weeks, but we are always on hand to help if there are any issues.
The offer on the Osney Island terraced house has been accepted too.
It’s then revealed by the agent that the vendors thought by putting their property on the open market, they might get a higher offer with some competitive bidding.
The position of our client, coupled with not having lots of viewings, made them decide to accept – a great result for us. A solicitor we put them in touch with is instructed and the survey is confirmed with the surveyor.
Anna receives a call from an agent who has been instructed on a period house valued at £2.25m in Sutton Courtenay. The agent is aware we have been looking for something similar for a client for a couple of months and a preview is arranged.
Greg has a second viewing with a client. They are deciding whether to place an offer on a house in Chipping Norton.
We are speaking directly with the owner, not an agent. The owner is an old client we have kept in touch with – and when they said they’d like to move we thought we had the perfect buyer.
Unfortunately, the client decides it isn’t the right house for them. And so, the search continues. Greg recommends a couple of local agents to discuss the sale of the house.
While returning home, Greg stops with another old client for lunch in Charlbury. The client is thrilled with the work builders we recommended have done to the house.
Lucy and Ben take the client to the Georgian Farmhouse while Anna previews the Sutton Courtenay house. The client loves the farmhouse, and we discuss the seller’s position with the agent before talking about an offer with our client.
The Sutton Courtenay house is too close to the main road for our client, so we won’t be showing them.
We submit an offer both verbally and in writing for the Georgian Farmhouse. Our client wants to take out some finance to leave flexibility for renovation work on the property, as the market is so strong we advise them to offer the guide price.
Anna and Lucy are busy previewing more properties for another client in south Oxfordshire. Only one property is suitable for our clients to view.
Anna and Ben meet a developer client onsite with the architect. The site has real promise, so we will dig into the figures and see if the GDV (gross development value) will support the price the vendor is looking to achieve.
Greg receives news that we have exchanged contracts on the Horspath house, and our client is thrilled! The property was in great demand, and our client was one of five bidders.
We have worked with the agent for a long time, which made the difference. Greg then follows up with the prospective clients to let them know we can take on their search and we’ll be in touch next week.
The agent handling the Georgian Farmhouse calls Lucy. Unfortunately, the vendors aren’t willing to accept our client’s offer yet.
We are still the only party to have viewed the property. We feedback the news to our client who decide to take the weekend to discuss whether to increase their offer.
Because they plan to be in the house for at least 20 years, it’s possible they will increase their offer.
The team comes together to review the week and celebrate the successes over a drink.
This week, we had:
- One exchange
- A sales offer accepted
- A rental offer accepted
- New clients onboarded
We’re not sure what the next week will hold, but hopeful of some new clients and an offer agreed for a Georgian Farmhouse.
Greg gets a message about a new house to view next week. And so the process continues!