Phil Spencer reveals the secrets behind estate agent’s ‘hot buyer’s’ list – including how to get onto it

The presenter offers his top tips on dealing with estate agents
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  • If you have ever dealt with an estate agent or have friends or family in the sector you might have heard whisperings of an estate agent’s hot buyers list. It is rumoured to be a list where members are guaranteed to get first dibs on the best new properties.

    Related: Phil Spencer’s Triangle approach to finding a house is absolute genius

    Well, you can now stop you’re wondering because Phil Spencer has revealed that the list does exist. On his Move IQ podcast, the Location, Location, Location presenter revealed that all estate agents will have hot buyer’s lists.

    Estate agent’s hot buyer’s list

    ‘When the estate agent takes a new property on and thinks well I wonder who might that suit, they’re not going to spend hours of time, money, marketing and effort showing it to 50 people,’ he explains. ‘They are going to think right who is going to like this. Who do I definitely want to help and do business with.’

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    Image credit: Steve Paston/PA Archive/PA Images

    If you’re looking for a home, getting on the estate agent’s hot buyer’s list is an enviable place to be. But how do you score a spot on this fabled list in the first place?

    According to Phil, it is all about building up a personal relationship with the estate agent. ‘What the biggest secret is, is to be very, very nice to estate agents. Yes, they work for the seller, but they are also gatekeepers to the properties and the information about those properties that you as a buyer need,’ the property guru shares.

    ‘Turn up early, turn up on time, bring them a coffee, do anything. Demonstrate how serious you are, how committed you are, how organised you are,’ he explains.

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    Image credit: David Parmiter

    ‘It’s the person who is nice, organised person who turns up on time, got their solicitor on board, got there deposit ready, got their finances all ready and is nice and focused about what they want. They’re going to get the first phone call.’

    It might sound like common sense, but unfortunately when it comes to house hunting, forming a relationship with the estate agent is the last thing on peoples mind. It’s a shame since the difficulty of buying a home could be halved with something as simple as a smile and little organisation.

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    Image credit: Simon Whitmore

    However, Phil does warn against getting too friendly with the estate agent: ‘They’re not on your side. So you have to be careful about all that you let slip about you and your situation and finances. But they’re not going to want to see you walk away with a dud house,’ he adds.

    Related: Phil Spencer reveals the FREE change that could boost the value of your home by £5k

    Are you looking to score a place on the ‘hot buyers’ list?

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