An interview with Jerome Lartaud, co-founder and director of Domus Holmes Property Finder.
To start off, could you please introduce yourself and tell us a bit about your background in the property market?
My name is Jerome Lartaud, and I am co-founder and director of Domus Holmes Property Finder, an independent property buying agency covering the South West of England and prime central London. I have been a property search agent in the UK for over 10 years now. My role primarily involves assisting clients with the search and acquisition of prime properties, particularly those that are off-market. Over 60% of the properties we buy for our clients are purchased before they even appear on the open market, which gives our clients a significant advantage.
For those who might not be familiar, can you explain what a buying agent does and how your role has evolved in recent years?
A buying agent, or property search agent, works exclusively on behalf of the buyer. We go beyond just searching for properties. We provide comprehensive advice and guidance throughout the entire buying process. This includes advising clients on whether a property is worth pursuing, based on factors like title issues, restrictions, or poor survey results. We also help buyers navigate the property market and liaise with estate agents, who do not always provide all the crucial information upfront, as well as negotiate the best possible price and terms.
What would you say are the primary benefits that buyers gain from using a buying agent?
One of the biggest benefits is access to off-market properties and private listings, which make up a significant portion of what we purchase for our clients. Additionally, we conduct early due diligence to uncover any potential issues, such as compliance with little-known regulations or boundary disputes. This helps prevent costly surprises down the line. We also negotiate on behalf of our clients to ensure they get the best possible deal, both in terms of price and terms that suit their situation.
Can you give an example of how you’ve helped a client navigate a complex situation?
We had one recently actually where the client was looking to buy a rural property with plans to use the garden for growing fruits and vegetables. During our due diligence, we discovered issues with the septic tank that neither the seller nor the estate agent was aware of. The cost of resolving this issue would have been substantial (£50,000 to dig up the acres of garden to establish the main problem and a further £20,000 to replace the septic tank), so we advised our client to withdraw their offer, despite being later in the conveyancing process, saving them a significant amount of money and stress. Without our service, the buyer would have proceeded non-the wiser to the costs they would have faced.
Have you noticed a trend of more buyers using agents in recent years?
Yes, I think there’s been a noticeable increase in the number of buyers using buying agents, particularly as the property market has become more complex. Issues like cladding, leasehold complications, and stringent compliance regulations have made it more difficult for buyers to go it alone. Buyers are realising that having a dedicated professional on their side, who isn’t tied to the seller as estate agents are, can make a huge difference.
Are there specific market conditions where a buying agent becomes more valuable?
In competitive markets where the best properties sell quickly or attract multiple bidders, a buying agent can provide a significant advantage. We can often secure viewings before properties are publicly listed and present our clients’ offers in the best possible light to appeal to sellers.
What are some common misconceptions buyers have about using a buying agent?
One common misconception is that buying agents are only for the wealthy, or for properties worth millions. That’s not the case. We’ve worked on transactions as modest as £330,000. Another misconception is that our service is just about finding a property, but it’s so much more than that. We ensure that the property is the right fit for the buyer, both practically and financially.
How would you address concerns about the cost of hiring a buying agent?
While there is a fee associated with hiring a buying agent, it’s important to consider the value we bring. We often save our clients money by negotiating better deals, uncovering issues that could lead to costly repairs, and guiding them away from properties that aren’t a good fit. In many cases, the savings we achieve for our clients outweigh the cost of our services.
How do you see the role of buying agents evolving in the next few years?
I believe the role of buying agents will continue to grow in importance, especially as the property market becomes more regulated and complex. We’re now seeing an increase in the adoption of the US broker model, where estate agents are being trained to act as buying agents as well. However, this model can lead to conflicts of interest. It’s crucial to work with a buying agent who is independent and 100% dedicated to representing buyers and isn’t affiliated with any estate agency. Acting for both buyers and sellers on the same property is not ethical. A good buying agent will also avoid taking on similar searches simultaneously, ensuring their loyalty and focus remain entirely on their client.
With technology changing the property market landscape, what new tools or resources do you think buying agents will start using?
Technology will definitely play a bigger role, from more sophisticated property search tools to virtual viewings and enhanced due diligence processes. However, the personal, tailored service we provide will remain irreplaceable. Understanding a client’s lifestyle, preferences, and long-term goals is something technology can’t fully replicate.
Any personal stories where your service made a significant difference in the home-buying process?
One memorable case involved an elderly couple who wanted to buy a townhouse in Clifton, Bristol. They loved the area, but the townhouses they were looking at had multiple floors, which wasn’t practical given their age (72+). We found them a lateral apartment that was more suitable, and they ended up loving it. It’s not just about finding a property; it’s about finding the right property for the client’s needs and guiding them.
Is there anything else you think is important for buyers to know about using a buying agent?
I’d just emphasise that buying a property is one of the biggest decisions you’ll ever make. Having an experienced professional on your side can make all the difference, ensuring that you make a well-informed decision that aligns with your long-term goals.
For more information, contact Jerome at Domus Holmes
