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Buying-agent support for managed or jointly owned property — Buying agent — Professionals
Act for the identified purchaser under a defined buying-agent mandate. Distinguish the management business, owners organisation and individual owners, and refer legal or finance matters to their responsible advisers.
Service scope
Buying-agent advice for a defined acquisition commissioned by an identified person or organisation connected with managed or jointly owned property. The property, purchaser, representative mandate and agency task are established before advice or negotiations are undertaken.
What is normally included
- Establish the purchaser and acquisition brief
- Provide the agreed property search or acquisition advice
- Coordinate authorised agency steps and specialist handovers
What is not included
- No assumption that a manager can buy for all owners
- Assumed authority of a manager to purchase
- Binding advice on collective ownership
Qualification checks
- Confirm the legal purchaser and authorised representative
- Confirm the acquisition purpose and property
- Confirm the agency scope and separate legal/finance advisers
- Check that search and negotiation instructions come from the authorised purchaser
- Confirm which due-diligence questions are handled by separate legal, valuation or financing advisers
Quote guidance
Price the agreed search, advice and agency tasks, with fee triggers and external costs stated. Do not assume authority to buy on behalf of every owner.
Lead risks
- The representative may need additional authority before commitments can be made
- Unclear purchaser objectives can cause inappropriate searches or negotiations
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