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.
Whether you just need a quick coffee and pastry pit stop or the perfect summery location for lunch, allow us to recommend these five foodie sun traps. Granger & Co The Aussie king of all-day dining Bill Granger has just opened his latest London outpost on Pavilion Road, which has recently become quite the foodie destination. Soak up the sun while tucking into ricotta hotcakes and an iced tea. 237 Pavillion Road, SW1X 0BP grangerandco.com April’s Cafe Part of style emporium, Boutique 1, and just along from Granger & Co is this well kept secret which popped up a few months ago. Dine on chopped salad and cold pressed juice and enjoy the people watching. 127/128 Sloane St, SW1X 9AS.
It’s been a pretty good week for NVP. On Monday we discovered we’d been selected as one of Prime Resi’s ‘Top 50 Boutique London Estate Agencies’ and yesterday the same respected luxury property journal reported on our first commercial deal. Not a bad start to February… Read more here bit.ly/2krGZIv