London is one of the most developed cities in the earth. As a matter of fact, many expats and professionals from the different countries are making London as their home. This may be surprising to you that the population in London is increasing by 2,000 in every eight days. As a matter of fact, transport planners of London have been forced to think about the state-of-the-art tube transport in the city by 2050.
All those put together indicates the burgeoning success of the property business in London in the near future despite its sluggish condition in the present due to the Exit poll verdict, increased stamp duty, and a high rate of duty on the second homes. It further construes that there is no dearth of property investment consultant in London. Hence, you must know how you would take such a consultant to your benefit. Here is a guideline on the same.
- Listing of the property consultants: To begin here, you must know all the property investment consultant in your niche market. Therefore, you should collect data on the consultants using offline and online resources. You can seek information from your family, friends, and colleagues. At the same time, you can use Google, Bing, and Yahoo for information on the property consultants. Make a comprehensive list of the London property consultants.
- Feedback on the consultants: Now, collect the feedback on all those consultants in your list. You ask for opinions on the consultants from the people known to you. Simultaneously, check the rating of the consultants on review sites like Yelp, Trustpilot, and others. Based on the ratings and the feedback, give a grade to each consultant.
- Short listing of a few consultants: At this stage, you have to refine the list of the property investment consultant. Pick only those consultants who scored the highest grading in your first list. But, you should confine your choice within 3-4 consultants only at this stage and take those to the second list in their pecking order.
- Price negotiation: The next step is to ask for quotes on the commission/service charge. Don’t forget to analyse their portfolio. Having said that, we mean, you must ask those consultants to offer you a virtual tour of the properties at your desired location with indicative prices. This, in turn, will give you a fair idea about the quality of the properties. After you go through the individual offers, you should start negotiation on the service charge a.k.a. commission of a property consultant and how they charge. It is important to remember here that nothing is fixed on earth other than the death and taxes. Once the negotiation over, short list just 2 property consultants.
- Hiring of a property consultant: Now, choose to work with the top consultant on your second list that offered you the lowest service charge. Give the consultant a target price for your property investment.
You can, however, set the rules of the hiring bespoke to your need here. That’s precisely very important over anything else.