Buying agent or estate agent in London: who each one works for, what a buying agent does that a seller’s agent cannot, and when it is worth hiring one.
By Aldo Attanasio d’Aponte – September 9, 2026
Buying agent vs estate agent: what is the difference?
An estate agent works for the seller. A buying agent works for the buyer. Everything else follows from that. The estate agent’s job is to achieve the highest price the market will pay for the property on their books; the buying agent’s job is to find the right property anywhere in the market, including the part that is not advertised, and to buy it for the lowest price the seller will accept. They are not two versions of the same service. They sit on opposite sides of the table.
What does an estate agent actually do?
An estate agent is instructed by the owner of a property to sell it. The agent values it, markets it, conducts viewings, receives offers and negotiates on the seller’s behalf, and is paid a commission by the seller on completion. The agent owes duties to the seller: to pass on every offer, to act in the seller’s best interests, to get the best price.
None of this makes estate agents villains. The good ones are excellent at their job, and in prime central London the better firms are professional, discreet and well informed. But it is worth being clear-eyed about the relationship. When an estate agent is charming to you as a buyer, they are doing their job for the seller. When they tell you there is another interested party, they may well be right, and they are also doing their job for the seller. A buyer who treats the seller’s agent as a source of impartial advice has misunderstood who is paying them.
What does a buying agent do?
A buying agent is instructed by the buyer, paid by the buyer, and acts only for the buyer. In practice, the work falls into five parts.
Defining the brief. Most buyers begin with a district and a budget. A good buying agent turns that into something more precise: what the property is for, how long it will be held, what will be a deal-breaker in five years that seems trivial today.
Searching the whole market. This includes the portals, but the portals are the smallest part. In prime London a large share of the best properties are sold privately, through agents’ contacts, before or instead of being advertised. A buying agent’s relationships with selling agents, solicitors, developers and private owners are the point of the service. Across our own acquisitions, 78% have been secured off-market.
Pre-qualifying and viewing. The agent views first, discards what is wrong and presents a short list with an honest assessment of each. The client’s time is spent on properties that could actually be bought.
Valuing and negotiating. The agent builds the evidence, comparable sales, lease terms, service charges, condition, and negotiates from it. This is where the fee is usually recovered. Our average purchase price is 12% below asking.
Managing the transaction. From accepted offer to completion, someone has to chase the solicitors, the surveyor, the lender and the managing agent, and to solve the problems that arise. A buying agent does that, and coordinates with the client’s tax adviser and bank so the purchase fits the rest of their affairs.
Where do the two overlap?
Both know the market. Both are negotiators. Both want the transaction to complete. A well-run estate agency and a well-run buying agency will often respect each other precisely because each knows what the other is doing.
The overlap is also why sellers’ agents tend to prefer dealing with a buying agent. A represented buyer is a qualified buyer: finance in place, solicitor instructed, brief understood, decisions made quickly. In a competitive situation, that reliability is often worth more to the seller than a marginally higher offer from an unrepresented buyer who may not get to exchange.
What are the practical differences for a buyer?
The first is the shortlist. An estate agent shows you what they have. A buying agent shows you what exists. The difference in prime London, where several agencies compete for the same stock and each holds only a slice of it, is considerable.
The second is the number of viewings. An estate agent has no reason to be economical with your time; a buying agent has every reason to be, because their reputation depends on getting it right.
The third is the advice. A buying agent can tell you not to buy. I have told clients to wait, or to walk away from a property they wanted, more times than I can count. It sometimes costs us a fee. It is often the right advice, and it is advice that a seller’s agent is not in a position to give.
The fourth is convenience, which matters most to buyers who are abroad, or busy, or both. A buyer in Milan or New York cannot fly in for every new listing. A buying agent on the ground can view within the day.
When should you use a buying agent?
Not everyone needs one. If you are buying a straightforward property in an area you know well, with time to search and the temperament to negotiate, you may do perfectly well alone.
You are likely to benefit if one or more of the following apply: you are buying in prime central London, where off-market sales are the norm; you are buying from overseas or have limited time; the sum involved is large enough that a few per cent on price is material; you want independent advice on value rather than a seller’s agent’s opinion; you have already tried the open market and are frustrated; or discretion matters and you would prefer your name not to circulate among selling agents.
How are buying agents paid?
Structures vary across the industry. At Arbitrage we charge a success fee on exchange, expressed as a percentage of the purchase price and agreed in writing before we begin, with no retainer. If we do not buy, we are not paid. I prefer that arrangement because it aligns our interest with the client’s: we are paid for the outcome, not for the search.
How Arbitrage can help
We have acted only for buyers and occupiers since 2006, never for sellers, and most of our clients come to us by word of mouth. We have advised on £1.5bn of acquisitions and bought more than 500 homes for private clients across prime central London. If you are starting a search, or stuck in one, we can tell you quickly whether we can help.
Frequently asked questions
Does using a buying agent mean paying two sets of fees?
No. The estate agent’s commission is paid by the seller and is built into the sale in any case. The buying agent’s fee is the only one the buyer pays, and it is usually more than offset by the price achieved.
Can a buying agent see properties that are not on the market?
Yes. That is one of the principal reasons to instruct one. Off-market sales rely on relationships and reputation, and a buying agent who has been in the market for many years hears about properties long before they are advertised, if they ever are.
Will an estate agent take my offer less seriously if I have a buying agent?
The opposite. Sellers’ agents generally welcome a represented buyer because the buyer is qualified, organised and more likely to complete.
Are buying agents only for very expensive properties?
No. The service makes most sense where the price is high enough for the saving to matter and the market is competitive enough that access matters, which in London covers a wide range of budgets, not just the top end.