In a sluggish market, canny tactics can be presented as a silver bullet. In London, a below-the-radar approach continues to seduce. But the strategy has mixed results.
By Liz Rowlinson.
Black Brick Managing Partner Camilla Dell is featured in the Financial Times, offering expert insight into the growing trend of off-market property transactions across London’s prime and super-prime markets.
Dell reveals that 73% of properties Black Brick purchased on behalf of clients last year were acquired off-market — up significantly from 50% in 2014. She describes the dynamic as akin to a game of poker, with both buyers and sellers keeping their cards close to their chest. When it comes to who is first in line for these discreet opportunities, Dell is clear: the best buying agents maintain a high-calibre contacts book spanning private individuals, private banks and developers, making them the natural first call for sellers seeking a qualified audience.
The FT article explores how off-market selling — once the near-exclusive preserve of properties above £1 million — is now being adopted across a wider range of price points, driven by seller concerns around listing fatigue, public price reductions and a desire for privacy. In prime central London, transaction volumes have declined and the average time from listing to exchange has lengthened, prompting a shift in strategy among both buyers and sellers.
Industry data cited in the piece shows that off-market approaches work best for best-in-class properties in sought-after locations, and that success is heavily dependent on the agent’s network and ability to generate genuine competition among buyers. The article also examines hybrid strategies — where sellers test pricing quietly before deciding whether to list publicly — and the growing role of buying agents at all levels of the market.
Please read the full article here.