What Is a Search Agent?

Simply put, a search agent looks for a property on your behalf. If you are looking to move – be it buying or renting – the search agent can do all the legwork for you. That’s finding suitable properties, arranging viewings and brokering the negotiations on your behalf saving you heaps of time and energy. If you really trust them, they can even attend viewings on your behalf. Maplewood often takes on this responsibility and reports back with videos or video calls, saving you further time travelling to multiple appointments.

In the UK, this process is less familiar than elsewhere in the world. In North American sales transactions, for example, both vendor and buyer are usually represented by a qualified professional (real estate) agent who acts in their interest. This isn’t the case for rental transactions, but it does mean that Americans and Canadians fully understand the principle of someone working on their behalf in this way.

In the London rental market, it is not uncommon to encounter relocation agents (or ‘relo agents’ in agency lingo). They are normally retained and paid for by a company to look after relocations for members of staff and their families (often internationally). They have excellent little black books full of London agency contacts and can work proactively to get access to properties that aren’t yet on the market. This role is common particularly for those looking for a property in Prime Central London.

If the idea of having someone take care of all of the hassle of looking for a property sounds ridiculously appealing, you may be wondering why search agents aren’t more common in the UK. The reason for this comes down to – perhaps unsurprisingly – money.

In Prime Central London, a search agent can undertake their work on the basis that they are paid a portion of the fee earned by the seller’s/landlord’s agent (i.e. the agent listing the property). The prices of Central London properties produce margins that allow for this and with both agents retaining a healthy fee. Outside of Central London (even just south of the river) the commission on offer isn’t regarded as sufficient to be split between two agencies. So a search agent must pass their fee directly to their client (the buyer/tenant) instead.

In an environment where much emphasis has been put on eliminating fees for tenants, lots of those people looking to relocate would rather take on the search themselves than pay a fee for someone else to find them a place to live, despite the valuable time-saving, negotiating experience and contacts the search agent may have.

The tide is changing however and – particularly in a hot rental market – it can be a difficult and logistical nightmare to find a property if you’re a busy professional. Hiring Maplewood to conduct a four-week rental property search for you starts at £1500+VAT. We jointly determine your search parameters, source potential properties, arrange and attend viewings for/with you and advise on the negotiations right through to your move-in day. Imagine that: a quick, low-stress and proven solution to finding your next rental home.

You can find more information about our property search service here or book a call with us to have a chat about your dream home.