To say the lines are blurring these days is an understatement. Anyone who has risen through the ranks of society now has multiple levels of complex representation around them. Let’s just call it what it is – an entourage! And September is the month they all return to London after time away in the sun. We’ve had knocks on the door in the past few weeks from a cook and a porter (introducing themselves as ‘family office’!) and a chauffeur and a maid (‘buyers agents’!). These guys are not shy and they are absolutely aware of their value in the buying chain. They are especially fond of a fresh coffee around the NVP walnut as we try and crack a.
KXU Just opened on Pavilion Road, KXU is the second venture from the people behind the well known, uber luxe gym KX off Brompton Cross. Instead of the usual membership fee, however, the new “one stop shop for boutique fitness” is pay-as-you-go; making it particularly appealing to frequent travellers. Boasting 40 of the industry’s most respected teachers, there is everything from yoga to spin classes and much more on offer. The spa is described as a “complete beauty and wellness clinic” and there is a deliciously healthy menu to refuel you after your workout. Where better to keep fit and network at the same time? kxu.co.uk Dinings We’ve long been fans of the Marylebone restaurant, which serves exceptional Japanese.
We are going to stick our necks out and say something radical: the most important person in London property is no longer the seller. It’s the buyer. Don’t get us wrong, we know who our clients are. Selling property on behalf of the seller is what pays our bills. But it’s in our client’s best interest that we treat buyers like gold dust. To say there are more sellers than buyers at the moment would be an understatement of epic proportions. And for the time being at least, it looks like this is the new normal. This gives the buyer a certain status – one that they haven’t enjoyed in as long as we can remember. The buyer is going.
We’ve talked previously about family offices being our principle customers. And about our existential inquiries. How are these things related? One of the current principle trends in residential real estate is the introduction of technology platforms to consolidate both the product offering and the database of buyers. One of the outcomes of this is to decrease cost of sale by downgrading the user-experience, and increase the volume of transactions by cheapening, and speeding up the velocity, of the buying process. The result is that buyers are more vulnerable than ever to amateur, subjective advice and speculative activity. They have no one to guide them, as faceless intermediary robots such as Zoopla, Rightmove and other start-ups in the sector continue to.
Recently at Nicolas Van Patrick (NVP) we’ve been asking ourselves some existential questions. 25 years working in London’s prime residential property market will do that to you! We know what you’re thinking: ‘Here’s where they tell me they’ve discovered their essence and how different they are to all the other estate agents.’ Actually we are not going to do that – far from it. There are too many similarities! But shifts in our industry are happening fast and we are conscious of the need to embrace change rather than resist it. So we are spending time getting clear on what these transitions are, and making a commitment to blog about our views. Stand by, for the real NVP is now.