Who Can SELL LUXURY HOMES in this Market?
The above News Headline is 4 years old! Yet FOXTONS today announced it has swung to a loss and says the housing market in the capital is in a “prolonged downturn”.
This is a particular marker for Luxury UK properties as Foxtons is a London-focused estate agent. Although owning a smaller share of homes purchased by HNWI and UHNWI, the trend of the past 4 years continues… lower sales volume.
How should Sellers of Luxury Homes proceed? Start by looking for agents who have truly Global networks and motivated teams who will proactively push your home as a ‘clever buy.’ You need estate agents and brokers or buying agents who are connected to private wealth banks or directly to HNW individuals to convince them that investment rather than personal opportunities are the smart choice of the moment.
UK buyers are too focused on Brexit pressure. They will miss the ‘bottom’ in terms of prices. A strong sales team that is networked directly with credible sales teams across MENA, N.America and Asia is the way to go. The key London agents I would start with are @knightfrank (I respect the work ethic of @Daniel_daggers), @savills and since their tie up with Berkshire Hathaway Home Services ( @berkshirehathawayhshhbr ) the stylish local specialists of @kayandco_ would be on my list too… 😉 MrSuperAdvisor • €$¥£ •