Property market predictions for 2017, I guess?

Featured

I read a little piece by Graham Norwood in Estate Agent Today where he touched upon property pundits such as myself and the far more esteemed spending the last few weeks of the year making property predictions. With a lightness of touch he also suggested that this might be a slightly trickier job than us pundits make out. In fact, I could almost make out a sote voce suggestion that we might all possibly be guessing. Guessing!

Oh Really?

Well I’m hurt. Frankly we are all immersed in the property market and talk to vendors and buyers all day long. We have seen it all, been there, done that. Some of us even have qualifications, (not many). Rest assured, what goes around, comes around, the past, as everyone knows dictates the future and we have some whopping crystal balls that we are brilliant at swinging around.

But maybe he has a microscopic point because in order to predict the future one  probably should have ‘been there before’ (I checked, I haven’t) and also one probably has to be a little bit certain about something. Just something.

And there’s the rub. Brexit, of exactly what can we be certain?

Will it be a soft Brexit? (a definite maybe but what does that mean anyway)

Will it be a hard Brexit? (Ooh, I hope not, really don’t like the sound of that)

Will they cancel Brexit? (don’t get me excited)

Will we just pretend we have Brexited? (that’s a thought, I can keep a straight face)

Will Boris Johnson be inappropriate with Madam President and screw all future US trade agreements? (hey ho, who needs ’em, the US will be so uncool without Obama anyway)

Will Liam Fox slip too many buddies into Cobra meetings and Putin gets the nuclear codes? (Army wives really, really shouldn’t joke about that stuff)

Will all our financial institutions flee to Frankfurt? (a little sob from me as all those potential Chelsea townhouse sales tumble).

Will the pound plummet so far that all our overseas holidays terminate at the Isle of Wight?

Will Mascarpone and Parma ham get slashed from the Waitrose Essentials range?

So many questions, however, the big question, the one that constantly chases me down the street, across the social media strata and in the queue at Waitrose is as always, what are house prices going to do?

Well that depends.

It depends on Brexit, it depends on the pound, it depends on people thinking they will have a job next week, it depends on whether they think houses will be worth more or less next year. It depends on how confident people are of their future. It depends on prices at the pump and on the supermarket shelves. And It depends on whether Brussels are feeling really, really vindictive. Above all it depends on our ruling politicians having the slightest slightest clue – and frankly I am not depending on that.

So grudgingly I have to admit that Graham may have a point, I think perhaps there will be a little bit of guesswork going on. Nay, quite a lot, nay, probs wouldn’t trust any of us. Especially the ones who shouted ” Brexit is having NO EFFECT WHATSOEVER”, on July 1st 2016 (oh yes, I remember you).

However, humour me.. I do have one surefire, rock solid, safe as houses property guess for 2017 (but please don’t get excited if you’re outside of Zone1)

In 2017 more foreigners will buy property in the UK than in 2016…

Stick that in your Cuban cigar and smoke it Nige.

 

 

 

 

 

 

 

Advertisements

Prime Crummy London.

Featured

A current search of mine is for a ‘do-up’ in prime central London. Lick of paint, add a white shiny kitchen, do a Kelly Hoppen greige on it and flog it on for a few more pennies. You know the score, I want crummy..  Gotta be easy eh?
Err. No.
It seems everything in London has already been ‘greiged’. Prime London is a sea of wide boarded light oak flooring and grey velvet sofas with grey velvet cushions. Everywhere is dressed with ‘stupid silver stuff’ (I don’t call it stuff). Silver lamps, silver objets, glass and silver tables. Silver antelope heads, silver sunburst mirrors. Every kitchen has white Corian worktops a Prosecco cooler and a three foot high tap that sprays your crotch. Hi-tech everything is de rigeur- you need a masterclass with Stephen Hawking to switch on the lights.

With price per square foot the Holy Grail of London property, every square inch has been eeked out. Meedja rooms are hewn from the subsoil. There are ‘sort of’ kitchens squashed into corners of living rooms.  Mezzanines scraping your head to provide a curtained master bedroom (no sex please, I have a mezzanine) and bathrooms so small you can brush your teeth and shower your bum at the same time.

But they do come with a new and rather desirable upside now hitting my in-box- a price reduction. This is because little of the money sloshing around prime central London (and there is plenty) wants them. What this cash really, really wants is a doer-upper, with a chance to make a swift buck and to greige it themselves. And they will pay for the privilege. Really pay.

Each day I call Agents and scour properties for tell tale signs of ‘tiredness’. Any opportunity to dig down, build up or plonk on a side return is pounced on by me… I am closely followed by the jangling coins and the quivering jaws of every Tamsin, Dicky and Henri with a trust fund, bonus or a dodgy accountant.

The zenith of property finds is the ‘old lady dowager just died’ property. No mourning in London. Pink bathrooms, an old electric ring cooker in the kitchen and a smell of wee are guaranteed to send buying hearts across London pounding. At one of these rare occurrences recently I was milling with a throng of unshaven geezers with steel toe caps peeling off ‘monkeys’ to the cabbie. Long tressed Chelsea housewives with iced expressions and City boys arriving courtesy of their Addison Lee corporate account. All eyeing each other up venomously and all with a determination to pay whatever it takes to get it. It’s crummy, so it’s very yummy. The get rich quick crowd and the Chelsea Sarah Beeny’s fight to the best bid death.

And, you know what? They will pay too much. They will add a mezzanine, pay £500pw to rent velvet sofas and they will greige it. They will whack it on the market at an outlandish sum and find that it sits – and sits, because almost everyone is looking for a ‘do-er-upper’ just like them. Then they will reduce the price (because they have borrowed up to the hilt) until they just about claw back what they spent on it.

If you want a home and a deal in Prime Central London- don’t dismiss something fully blinged and horribly over-spent on with the oft heard words ‘I’m not paying for someone else’s profit’, because you probably aren’t.

Instead, why not kick off your Tods on the underfloor heating and enjoy the spoils of someone else’s pricey re-plastering, re-wiring, re-plumbing. Take their Miele appliances, the latest Megaflow system and the expensive flooring. You don’t like the mortuary style kitchen? then replace it. You don’t like the sanatorium white walls, paint them.. buy right and you’ll probably still be in credit. And best of all leave them with their months and months of negotiating with planners, screaming at labourers and sleepless nights as their overdraft facilities slipped away, along with any profit. In the fiercely competitive London market the ‘done ups’ are often a much better deal than the ‘do-ups’.

Crummy is currently far too yummy for my taste. Perhaps the cleverest thing to do in the raging price seas of London is to un-do it up?

Knightsbridge Naffness

Featured

Horns:
You heard it hear first. Horns everywhere you turn. Stuck on walls protruding from some decapitated beast. Pointing up from chairs.  Lone horns polished and silver plated to cover where it was ripped from some (I hope) lop-sided wildebeest and of course the 666 stuff.

Arco Lights
Arco lights, generally positioned for guaranteed head banging. No London bachelor flat is without one of those. Size is a direct correlation to owners testosterone level. Always in the way and flaming useless unless your goal is a little spot of light illuminating the rug.

White leather furniture.
Cold, uncomfortable, clinical and makes quite impolite noises if you readjust your bottom. Add some synthetic shag pile rug (most do) for a DIY Austin Powers pad.

Bogs of bling.
There has been a strange proliferation of fancy bogs too. Ones which provide services that I trust no one has experienced since nappy days. They involve buttons, warm air, warm water, warm bums and warnings of the dangers of misuse. Ablutions shouldn’t require that degree of intellectual input.

Wallpaper.
Interior Designers are always going on about ‘texture’ and it seems they have hit pay dirt and are running with it with the emergence of the sandpaper wallpaper. It is actually cork with spangly bits and it seems to be Knightsbridge’s latest answer to the B & Q feature wall. I almost prefer peonys.

Bijoux Bakerys
The Hummingbird bakery. So what if you can feed an African village and dig a well for what fits into a little bijoux box. I feel like whispering to the ladies who prance out with their offerings.
“it’s just fat, sugar and carbs luv”.

Orla Kiely
Eurgh. We still have Cath Kidston lurking malevolently but it’s Orla who is splashing herself on everything these days. You can’t walk into John Lewis without the depressive sensory overload of drab ugly faux-fifties kitsch pattern on everything. Did I mention it was ugly?

Technology.
Gone are the days when you pulled the curtains, whacked a CD into a ‘player’, flicked a light switch and a dimmer was state of the art. No more tranny’s in the bathroom (don’t titter) you’re nowt without an in-built telly and mood lighting. In fact you’re nowt if your entire home isn’t controlled from an iPad.  You will of course need to pop down to Imperial College and borrow a geek with a PhD every time you want to close the curtains.

Chandeliers.
In the kitchen, I’m not joking. Where you find kitchen chandeliers you will be sure to find an oven with cardboard inside and the freezer will only have vodka. Less style over substance, more style over subsistence.

I have visions of interior designers giggling together in their coven as they plot the latest abomination to inflict on the unsuspecting purse of a millionaire. Almost makes you nostalgic for last years cow skin rug. What? You’ve only just got one? Sorry but it has to be zebra this year.

Primelocation Blog awards 2011- Oops, we did it again!

Featured

Well, well, well.. thrilled that our blog has won Best property blog post of 2011, quite an achievement considering how many people are out there scribbling to a really high standard on the woes and the details of the property market.

Here’s the list of all the winners and runners up click So many people to make sure you read.

Here’s the blog that won it.. not literature and certainly not in depth property analysis with ‘graphs and things’ but a satirical wander around what I call a wag pad and the developers do not 😉 click

Estate Agent Types…

Featured

Estate Agents I have known and loved.

Michaela
Michaela is more careful about showing off her tattoo since being promoted from receptionist, although the fake tan has sadly dulled it anyway. She has also splashed out on a couple of Next suits. Michaela would like to live in every property she shows and she tells you. Sadly this is just a pipe dream since boyfriend Gaz got made redundant from Kwik-Fit. Still, his Grandma is ill and she’s got a lovely retirement bungalow in Hastings so all is not lost. Michaela has Heart.

Catchphrase: It’s alright for some.
Likes: Loose Women
Dislikes: Anyone above ’emselves.

Foxy
Foxy looks great in his House of Fraser suit and wears his pointy D&G shoes with pride, particularly as he got a right deal at TK Maxx. Foxy is driven to sell, partly because he is on £8k a year basic and a shared flat in Clapham don’t come cheap. Partly because if he doesn’t he knows he’ll have to stand on a table at the morning meeting and recite ‘I am a tosser’ while his colleagues/enemies jeer and spray him with Perrier. If an unknown number comes up between 8am and 12pm it will be Foxy – ‘calling out’. No matter you found 12 months ago, he was just checking you were happy in it because if you need to sell….

Catchphrase: If you throw enough shit..
Likes:  His database.
Dislikes: Loooo-sers.

Christine

She looks Mumsy but she has seen it all and let me tell you, it was all negative then and it’s no bloody better now. The only people she likes are her son, ( adopted because ‘her husband’s even bloody useless at that) and the Manager and district Manager, who she bakes cakes for. Those young bloody negs in the office are a constant irritant and they ain’t picking up the phone first or getting their bleeding fingers on her applicant list if she has anything to do with it. They can do her viewings though.  Christine only likes buyers who are male,  middle class and flirt with her. Do not bring children, that steel eyed stare will cause them nightmares.

Catchphrase: I spoke to that applicant first.
Likes: Strictly Come Dancing
Dislikes: People.

Dave
Dave is to be found in his one man office above Greggs offering 1% deals. ‘It’s all about volume innit. Pile ’em high and sell ’em cheap didn’t do Tesco’s any harm did it?!’
Dave is a bit stressed quite a bit of the time because he isn’t piling them high and frankly he’s not selling ’em neever.
You can find the Greater Spotty Dave on Rightmove. His properties have the toilet seats up and the washing up takes centre stage. If you look even closer, there he is complete with flash in the bathroom mirror.
Dave drives an Astra but he really, really Aspires to a Vectra.

Catchphrase: I just want to offer punters value for money.
Likes:Greggs sausage rolls and Boots meal deals.
Dislikes: Any Estate Agent with a listing.

Sheila
To be found in the shires, Sheila is upper middle class and upper middle aged with hair sprayed so hard you wouldn’t get through it with a toffee hammer. Particular specialties are equestrian property and being scary. Expect the Spanish Inquisition if you try to book a viewing, for ease of passage change your name to Camilla, honk a lot and have equine worming tablets visible in your handbag.

Catchphrase: If Daddy hadn’t lost on Lloyds I wouldn’t be here.
Likes: Princess Anne
Dislikes: Commoners.

Rupert
You didn’t think I’d miss him out did you?
The older Rupert wasn’t quite bright enough to go to University but young men from frightfully good families do need a profession with a business card and the City was picky back then. The younger ones have Land Management degrees from St Andrews, Durham and of course Cirencester. Dead handy because they never know if Papa might pop his clogs and they’ll have to take the reins at the family large-holding.
Never try jokes or irony with a Rupert – they won’t get it. However, they ‘won’t get it’ with the most impeccable manners.

Catchphrase: Do you play Rugger?
Likes: A bloody good pheasant shoot
Dislikes: Being called an Estate Agent.

So, clearly these character are not based on anyone living or dead and bear no resemblance to any Estate Agent I have met in the course of my daily life. In fact I shall go as far as saying that I have made it all up. In fact all Estate Agents are made of sugar and spice and stop for hedgehogs crossing the road. Apart from Rupert, who shoots them.

Buying Agent sells her house. Part 3. The marketing

Featured

2nd week of August 2011

Photography done and it looks lovely.  Not sure about the words on the brochure but I figure no one reads them anyway, I don’t. All I need is a postcode, as many photo’s as possible and a floorplan, then I can make my decision to view.

Starting to get a bit frazzled. Dreading having people through my house. I am not Mrs Tidy and keeping the place ‘right’ will be a bore. Also I really find the thought of people viewing my house as quite upsetting. A home is not a commodity, no matter how hard you try to pretend it’s just a ‘transaction’.

Third week of August

With the brochure ready I suggest to the Agents that they call their ‘hot-box’ buyers. No, they say, we would rather give it a proper launch to maximise the excitement. I hope they know what they’re doing. D Day is set for 6th September. Schools are back and hopefully the buyers are hitting Rightmove, checking their emails and planning on getting into somewhere new before Xmas. I know full well that I have a 6 week marketing window before the buyers go into hibernation and the economy probably implodes. Fingers crossed.

First week of September

First phone call comes in- Can I bring someone around on Thursday 8th September? Then another call- I have two first viewings. More phone calls, and more viewings are booked in for the following week. I find myself interrogating the receptionist making the bookings. Are they in a chain? What LTV mortgage do they need? Do you know them? When I started asking if ‘they are nice?’  I decided to shut up. I was developing into one of those ‘hands on’  sellers that I despair of.

Thursday morning.. lot’s of Febreze, cat litter box cleaned and hidden. Bed’s made, which is a first. Cut flowers plucked from garden and I even start thinking about brewing coffee, I allow myself a wry smile and stop right there on principle. If it’s going to sell, then the smell of cookies and a cynical attempt at ‘you too can live my pretend lifestyle’ ain’t going to be the reason. I then get the hell out of there.

When I get back – they are still viewing so I hide down the lane. I watch them leave and pathetically leap on the young Estate Agent James for feedback. ‘The first one said over-priced- although his wife disagreed’ My hackles rise. Over-priced? Over-priced, I hear myself getting shrill and all the advice I give people about ‘listening carefully to feedback’ get’s dumped as I explain to the patient young James why they are WRONG!

What about the second couple? I ask

‘They seemed to like it’ he says. The Agent then has to endure my picking away at his statement. How d’you know? What’s their position? What about price? I am even annoying myself.

The next morning James calls with feedback- I am impressed. He recounts that he met the ‘might be interested’ couple in the pub last night and they were poring over the brochure, which he felt was a good sign. The first couple were ‘still thinking’ and he had yet to talk to the second couple. He tells me that this second couple were despondent about ever finding a long term family home, so they had reduced their price and search to an in-between’ townhouse which they would stay in for a couple of years. James had called them to say ‘Hey! I think I might have that dream house you really want’. Clever James- creative thinking and knowing your applicant list well is how good agents do deals.

Two hours later James calls again. He has an offer. £25k below asking- at the level I actually think it is technically ‘worth’. They are in rented. 60% LTV mortgage agreed.

I ask James ‘how much they liked it’ James tells me ‘she’ walked through the door and said ‘it’s perfect’ and didn’t stop beaming. That is what I want to hear, because that is what my reaction was. I want the buyer to have complete emotional buy in- if they have that then they are far more likely to breach the undoubted hurdles that crop up during the buying process. If they are buying on a practical basis they are far more likely to be swayed by the forthcoming economic maelstrom or by any crappy legal woes.

‘Go back and tell them I am very keen to do a deal but they were the first through the door and I have four more viewings booked already. I would be foolish to take such a hit straightaway. However, I make it clear to James to not lose them. I tell him that I would be prepared to look at less than asking but when pushed for a figure I say £5k more than I would actually take- gotta be careful, because if I told him my actual bottom line- trust me, that’s all I will get.

Phone rings ten minutes later with a higher offer. This is a very good sign. These buyers mean business, no messing around, it shows they really want it. This offer is £10k more than before- another good sign, they aren’t playing silly beggars with £1k increments. I want to close this. The thought of no more people coming around is delicious. I go back with a split the difference offer of a couple of K, 28 days to exchange and 28 days to completion thereafter and the deal is done. This has taken 22 hours. The viewings booked for next week are cancelled and the listing goes straight onto Rightmove with a big ‘under offer’ across it. Even in this market, with decent property, decently priced, ‘you snooze, you lose’.

My head is spinning. I need to find somewhere to live. I am going to move into rented. That will be straightforward, won’t it…?!

part 4 soon- sales progressing and finding a rental.

By the way.. I am rather excited at being nominated for Primelocation Blog of the Year again. A quick vote would be everso appreciated 🙂 VOTE

Vendors, this is your two week warning! Take the blo*dy offer.

I wrote the post below back in February 2011 when frankly I could see the writing on the wall. I could see the emergence of over-inflated asking prices and Vendors who’s price expectations were way and beyond what they should have been. This was partly the fault of Estate Agents, with available listings at the lowest levels for decades the easiest and quickest way to be successful in a pitch to prospective Vendors was to price high. But Vendors are not blameless, inherent greed allowed them to ignore common sense and allow their properties to sit on the market getting no offers, dismiss low offers and ignore suggestions of price reductions. This year both Vendor’s and Estate Agent’s have come un-stuck as a result. Transaction levels are through the floor. Estate Agent’s have not been able to sell their over-priced stock (and each one of these costs them money) and Vendors have often ended up taking a much lower offer 6 months down the line as their property sat around becoming stale and thus unattractive to the market. Vendor’s and Estate Agents, today is the 23rd October 2011- here is your 2 week warning;
If you don’t do something very fast, a price reduction or taking that offer you think is too low, you will be whistling until February at the earliest and I guarantee now that you will be getting a lower price than any offer on the table today….

Dear Vendors,

Working on the premise that you are a Vendor who really needs to sell, as opposed to a ‘let’s see what can I get’ tyre-kicker, here is my blunt advice:

You have put your property on the market and one of two things has happened.

Nothing.
or
An offer straightaway.

Why is nothing happening?

As there is a lack of good quality stock at the moment, chances are your property is over-priced or there is something wrong with it. Either way, it is over-priced.

An offer straightaway? Great, but I bet if it’s not the asking price you don’t take it. And if it is, I bet you’re screaming that the Estate Agent under-valued it.

Firstly for the lucky Vendors with a quick offer. You may think this is the beginning of a huge influx of ever increasing offers and therefore think you will sit back and await more pennies from heaven. Well don’t. From long experience the very first offers you get will almost always be the highest and the best. Buyers, when they are first to view on a good property will very often make excellent offers to stave off other bidders. Fresh to the market properties are sexy. If that property has been hanging around they don’t feel the need to and worry why no one else has bought it. The longer it is on the market, the worse buyers concerns about it being a turkey, will get and so will the offers. Don’t mess around with that offer, squeeze as much as you can quickly but remember it will probably be the best you get.

So your house has been sitting around for 6 weeks now, dribs and drabs of buyers no offers until one day up pops what you call a ‘derisory’ offer. Ask yourself how derisory it really is. Is it only derisory in relation to the over-inflated asking price? If it really is bad then rent the place out for three years. If you can’t do that then you are going to have to consider it, because the fact is, unless your house is in prime London or worthy of RIBA house of the year, your chances of getting more will only get worse as the weeks go by.

I am being so blunt on the basis that the market is surprisingly buoyant at the moment for Vendors but only due to lack of supply and low interest rates. It won’t last. This lack of supply is very likely to change as the year progresses due to un-employment, rising interest rates and general economic woes. When more properties come onto the market and the demand doesn’t rise, the chances of you getting the price you are offered today will decrease faster than a spider down a plughole.

If my house was going on the market tomorrow and I needed to sell this year, I would be pricing it very realistically, perhaps even under-pricing to create interest. (buyers love what they perceive as an under-priced property). If I had no offers after 3 weeks full marketing with a good Agent I would be dropping the price and I would be looking lovingly at any offer from a buyer with cash or a low LTV mortgage.

To heck with price indices and ‘what it’s worth’. A property’s ‘value’ is only ever what someone is willing to pay for it. And shortly, there will be fewer people who want to pay anything and more for them to choose from. So don’t puff out your chest and allow your ego to run negotiations.

Grasp the nettle and take that decent or even half decent offer… indecently fast.

A Buying Agent’s sad tale of a ground floor London apartment

 

Click here to nominate.. please 🙂 Primelocation best blog

I really, really wanted to like this flat, with £2m burning a hole in my pocket my fingers are crossed. It’s over-priced but I’ll address that later, if I like it.

It’s in one of my favourite blocks in Chelsea, where I have just completed on a second floor flat. It has gardens emulating a mini-Hampstead Heath and a really nice ‘feel’, an unquantifiable but essential ingredient. Short walk to a tube and to the Kings Road makes it a spot on choice for my clients. But there are two problems I know I will have to overcome. Firstly it’s ground floor, secondly my client has no vision and can’t see past the wrong colour sofa let alone bigger issues needing creative thinking. However, I enter with hope in my luke warm heart.

It has been ‘done up like a kipper’. A beautiful Gleneagles breakfast kipper rather than an Iceland boil in the bag version.

Corded wool carpet everywhere. White shiny kitchen. Quality dark wood doors. Zebra print accessories and stupid flat sinks that hold a centimetre of water. All very predictable Chelsea 2011 but it’s what my client wants- a walk in, drop your suitcase, Harrods take-out and shake your cocktails pad.

The developers have really gone to town, spent a fortune and have done it almost perfectly. Almost.

It’s a ground floor flat and as such at least 50% of your possible viewers have disappeared at Rightmove stage. It’s a big issue. Oversea’s clients will worry about it as a secure lock-up-and-leave. Women will be worried about security and all will be concerned about people peeking in. Starting with the beautifully dressed bedrooms. They all have lovely big sash windows and no curtains. This indeed lets light pour in but also gives unadulterated views which I struggle to tear myself away from. All the bedrooms look onto a light well with what appears to be a pebble dashed, moss encrusted WW11 bunker housing boilers. At eye level. Great. Breakfast in bed watching the plumes of CO2 waft gently into Chelsea skies…. but you won’t be alone, your neighbours in all those other windows will be watching you, watching them, watching it. ‘Humph’ I think.

Then the sitting room, a lovely room but through the un-dressed windows, through the railings I stare as the neighbourhood strolls past. Almost at touching distance but most certainly at ‘locking-eyes’ distance.

‘I was hoping the ground floor issue wouldn’t be such ‘an issue’ I say to the Estate Agent. ‘My client won’t be able to see past it, whatever I say – if only they had put voile at the windows or plantation shutters that actually closed, it might have worked’.

Such a shame. There is only one thing patently wrong with this place, it’s ground floor but it seems the developers have tried to mitigate that by throwing money at everything else and hoping people won’t notice. It’s stuffed to the gunnels with glittery objets, fancy rain showers and potted orchids but all I have burnt into my retina’s is the builder walking past the window and winking at me.

This flat is not going to sell anytime soon and certainly not at anything like what they seem to be hoping for, all for the sake of a bit of John Lewis voile.

‘Actually’ says the Estate Agent, ‘the Developers, the actual money men, wanted to do something like that with the windows but their Interior Decorator said it wouldn’t go with the ‘theme’.

‘That’ll be the style over substance theme, will it?’

Silly as it seems, many buyers really don’t have vision and really won’t see past solvable negatives, so it’s crazy to freely hand those negatives to them- even on a silver salver.

The irony is, this flat was all about window dressing, except where it was needed.

…and if you would like to discuss me working on your home search .. there’s more information at www.bdihomefinders.co.uk or call me for a chat on 0845 603 6110

Fly on the wall in a Knightsbridge Estate Agent’s.

Featured

W.A. Ellis, the Knightsbridge Estate Agent founded in 1868 and dealing with some of the most prestigious addresses and clients in the world think my blogs are funny, which is nice. They want me to write one about them. ‘Only if it’s warts and all’ I warn. I don’t want people thinking I have moved over to the dark side. ‘Warts and all is fine’ they say. I really hope they mean that and I really hope I am not going to have to spend an entire day with roaring ‘Ruperts’.

I arrive at their Brompton Road office. A cavernous labyrinth covering many floors, housing nearly 50 property pro’s and belied by the subtle shop front. If Estate Agents did Tardis’s…

Leila on reception greets me. She’s a born and bred Londoner, a nice change to your standard London EA receptionist, who are generally chosen for inside leg measurement, blondeness and the ability to speak English is an after thought.

Simon, my ‘charming as they get’ host for the day arrives. ‘Lift or stairs?’ he asks. ‘Stairs’ I say and emerge panting on the sales floor eyrie in the Knightsbridge treetops.  I can see down to a square which has been a temporary home to Bill Gates and Woody Allen among many, I may know this but I suspect W.A. Ellis couldn’t possibly comment.

The sales team greet me warily, they know I am writing a blog, some even know what one is. I feel like Katie Price infiltrating the Royal box.

Simon has calls to make, so I tuck myself into a corner with a steaming mug of Earl Grey. Hate the stuff. I attempt invisibility but with flapping ears.

Graeme, an 18 year old recruit to WAE ‘quite a few’ years ago is on the phone. ‘We’re not going to start this if you’re not going to finish it’ he booms at what I picture as an increasingly squirming buying agent. “I won’t have my client messed around’. I warm to Graham.

Receivers are covered as questions get thrown to the floor.. ‘What’s current best square foot price for a 1st floor Cadogan?’ ‘Anyone seen anything good on Egerton..?’ ‘Whats the chance of demising that roof terrace on Walton Street?’ A neat summary of the complexities of buying in London.

‘Our Vendor’s just lost out on an Eaton Place, can we find one, £5-£9m?’ says Jamie, who started as a saturday boy and was then supported through a Real Estate Degree by the company… I bite my lip, dying to say ‘tell them to call me!’

It’s time to hit the road with Simon. We are street walking Knightsbridge style. Well he is. I am sporting Clarks comfort heels and blisters, he is in Gucci. First stop a pied a terre in South Kensington. It’s tenanted, (cue untidy) and has the added novelty of a snarling home alone Chihuahua.’It’s on webcam’ Simon informs me, ‘they watch it from work’. No kicking the dog then, I tell him.

First viewer is a glossy buying agent. ‘It needs gutting’ she proclaims. ‘Is your client happy to do that?’ asks Simon. ‘NO’ is the curt response. Oops, I look away and concentrate on my role of shooing dog from ankles. Another viewing and another buying agent lollops up the common parts. Simon talks through innovative ways to redesign layout. The buying agent has other ideas, dumb ones. I bite my lip. Onto the roof terrace, Simon starts a techy discussion on it not being demised and ways in which to mitigate that. It’s high up and we are surrounded by London chimney pots. If I had an umbrella I could be Mary Poppins but Simon is no Dick Van Dyke.. He’s more Ewan McGregor in Moulin Rouge, I think wistfully. I try to focus back on roof terrace demisings and not dwell on the unlikelihood of me being mistaken for Nicole Kidman.

Another flat, and £1m nicer. Tim is already there with a gaggle of even glossier buying agents and their uber-glossy clients. I look around trying to find fault then remind myself that today I am not a buying agent, I am an EA.. I need to project the positives. ‘It’s very light’ I say lamely. Tim and Simon classily avert their eyes from the wired glass views onto the dingy light well and say ‘Absolutely!’ I’ll stick to being a buying agent, I am so much better at being negative.

Discussions are on lease length, service charges and sink funds, as the common area’s are, shall we say, ‘very’. It gets very technical buying flats and the best agents spell out the good AND the bad at the front end. It save’s lawyer/buyer histrionics the day before exchange.

We trot back to the office and I grab a cuppa with Lucy Morton, the doyenne, the matriach, if not supreme commander of not only WA Ellis but most committee’s, boards and advisory panel’s worth listening to in the property world. In this world, at this level she’s as rare as hens teeth, she is a woman and a phenomenally knowledgable one. Her awards shelf competes with Ant and Dec’s. I comment on the longevity of their staff, many over 15 years and Jamie starting as a saturday boy. ‘Oh yes’ she says ‘He was so young when he started that I wouldn’t let him cross the Brompton Road’. I get a maternal twinge, then remind myself he is an Estate Agent.

I am told to talk to Charlie about the lettings side, they cover a large swathe of London from this office, unlike the multitude of offices I have to call when using ‘the brands’. Ah, the delicious Charlie. I force a lame News of The World style interrogation on him. ‘Tell me your funniest tenant story’. I am regaled with inebriated Polish girls, the quaintly phrased ‘birthday suits’ and Dan stuck in a lift “I was talking to his feet for an hour”.

A quick catch up with Katya, IT manager and Bill Gates’ most dedicated of Bulgarian disciples. She rules all things wifi and web with an iron curtain fist… and Louboutins, then it’s off with Jamie to see something in the teens of millions with the added bonus of a real-life buyer, not a buying agent. It’s an astounding chandelier hung Edwardian apartment overlooking the poshest of the posh London squares. Decor is a feast of 1980’s trompe l’oeil and rag roll paint effects but what the heck, it has a 30ft balustraded terrace with glorious black and white original tiling.’ Can we take those up?’ asks the prospective buyer. I have visions of decking, blue LED’s and Cargo tea lights, my intake of breath is audible. She needs a different type of decking. Lip is bitten yet again.

Back at the office I am flagging. We have walked literally miles, as no one was getting me on the back of their ubiquitous red scooters.

I finish off with the sales guys. Dominic tells me he has been in Lettings, Sales and the surveying department.. he is a chartered surveyor and his desk, littered with very funky spectacles points to a personality too. Another ‘hens teeth in the industry’ moment.

As I am leaving, the whole office ask ‘Have you seen Trevor Place, it’s a corker’. Genuine enthusiasm for a listing is a rare thing to hear from Estate Agents. ‘Yes, I have seen it’, I say, (it is £17m of delicious double fronted real estate), but there’s one thing I haven’t seen today’, I tell them…. ‘A Rupert’.

We do have one of them they say, a little crestfallen… but we keep him in Accounts.

Very pleasing.

 

..and if you would like to discuss me working on your home search .. there’s more information at BDI Home Finders or call me for a chat on 0845 603 6110

Buying Agent, the Royal Wedding and a London flat…

Featured

‘We’ve got a new flat coming on, only allowing Buying Agents in for the first week, do you want to come to special viewing?’ said the uber smooth Chelsea Estate Agent.  Seems another London Vendor wants to try and avoid hoards of the un-washed rampaging through their pad. No doubt they also think they can create a fierce bidding war amongst the gaggle of Buying Agents, ironic and wrong when you consider that our clients measure us on getting the best price. However, there remains there an impression amongst sellers that Buying Agent’s clients have more money than sense. Still, can’t hurt I think, will pop along and see just how over-primped and over-priced it is.

It’s a hot day and my standard black suit uniform was not a good choice. Parking down a Belgravia back Street I took a leisurely stroll to the red brick flat tucked behind the Alice band mecca of Peter Jones. The Sloane Square shops and street cafes are palpably excited by the imminent nuptials of Prince William, regarded by many of the hair-tossing blondes quaffing espresso’s as ‘the one that got away’.

Outside the flat, the literally less cooler side-kick of Mr Uber-Smooth is waiting on the pavement, suited, booted and sweaty, rather like me. He is there to usher ‘us’ in.

I can spot an Estate Agent in a sea of suits, likewise, your standard London buying agent sticks out like a ham sandwich at a Barmitzvah. There he is, helping his client out of the Addison Lee mini-van. Eww. Tall, slim, foppish blonde hair and an air of superiority not picked up at a free school. As my Mother might have said, this chap really fancies himself. He catches my gaze and promptly dismisses me. Middle aged women aren’t on his radar of who to suck up to, unless they are Hermes toting clients. The suited client is a banker, tanned and glued to his mobile. ‘Should have come to me love’, I think, I don’t do mini-vans.

I get a special welcome at the door, a reward reserved for someone who is currently buying something from them. Talk turns to that purchase.’We need to exchange soon on that’ he says. I point out the obvious, ‘Your client shouldn’t have such a crap solicitor then’. He agrees and shuts up.

Entering the hallway, like most of these red brick mansion blocks it is dark. Really dark. The common area’s have been nicely done and the velvety carpet with brass stair rods feels inches deep. ‘Take the lift’ he says. Nope, I always take the stairs to check it doesn’t turn to glossy woodchip paper on the first landing. At the flat’s front door I am greeted with piles of Church’s brogues and the alternative choice of blue plastic bag covers for my shoes. Don’t really like the mortuary technician look so I opt for bare feet but amuse myself with the thought that as my new shoes have leeched dye onto my feet, the shoes are probably cleaner.

Peering into the hallway, I have to smile and find myself uttering to the buying agent un-doing his laces ‘Elephant Breath’. He blanks me.(Never trust a buying agent who doesn’t know his Farrow and Ball’s).

With trusty camera phone at the ready, I launch forth to take discreet piccies for this blog. Bugger, the bloody Vendor is seated at a desk. Blonde and scary looking, we nod acknowledgement and she get’s back to her lap top, surfing net-a-porter as I suspected. She is seated under the one thing I wanted a snap of, a great big Banksy style painting with the inspirational words “SHIT HAPPENS’. Graffiti is now clearly middle class.

The flat is carpeted in grey corded wool, the sort of grey that we used to only use for undercoat on drainpipes or battleships. Walls are predictably from the Farrow & Ball palette. The grey palette. Walls not painted are clothed in modern dark wood panels, with the odd Plasma TV inset. To use a technical term, this flat is done up like a kipper. It feels like an army of stylists, designers and purveyors of ‘objets chers’ to gullible buyers have spent a month titivating with their Chelsea price tagged magic wands. Nursery in Designers Guild? Tick. Orchids in pots? Tick. Alessi in the kitchen? Tick. Blanket in accent colour draped across bottom of bed? Tick. All very expensive, all very ‘yawn’.

The art work was vibrant and copied by the two accent colours scattered around the place. A shocking pink and purple theme was carried through the flat with cushions, vases, throws creating a zingy design equivalent of ice lollies against a thundery grey canvas. I am seeing purple used a lot recently, especially with hot pink. Reminded me of my favourite two felt tips when growing up in the seventies.. and my leg warmers.

Frankly, it is all far too obviously styled for my liking, the family and baby photo’s look incongruous in the very un-homely setting. For a family home it’s a  bit sad looking really. The sofa’s never been sat on and the beds have never been romped in.

Wandering down to the pavement, as usual I throw an ‘it’s a bit over-priced’ at my friendly Estate Agent as we eye incredulously the latest in customised Mini’s. Zebra skins are on so many London floors these days, now they are being parked outside. Daktari meets Chelsea.

‘No love’, he says, ‘one next door went for £250 sq ft more than this last month… And it’s not as good’. Bloody Hell, I think, thats 500 quid a square foot more than this time last year.  ‘Oversea’s dosh’, he says.

This sort of over-primping tends to put off us ordinary Brits (even one’s with £3m to spend). My Brit client’s would look at it and think, how much of this am I paying through the nose for? And frankly I come from the same ‘hackles up’ school of thought. However, the oversea’s client who thinks London is the safest place to buy, thinks prices will continue to rise and can also buy the furniture, (designed especially for the flat), thinks differently. He gets an off the shelf, no hassle, fancy pants ‘lock up and leave’. Sod the premium.

The Vendor may have got the Zeitgeist spot on by surfing Net-a-porter. For an oversea’s buyer, this flat is exactly what they want – Pret-a-Porter.