MANAGING DIRECTOR OF CENTRAL LONDON ESTATE AGENCY, KAY & CO, SPECIALISING IN MARYLEBONE, REGENT’S PARK, HYDE PARK AND FITZROVIA.
Q. I hear that international buyers are purchasing the most expensive homes in London. Should I instruct an international agent?
A. While international buyers have increased significantly over the last few years they are by no means the only people buying expensive homes. Our recent experiences demonstrate that there are still a large number of local cash buyers who are extremely active at the top end of the market. The research figures quoted by international agents in respect of overseas buyers in London rely on just their own in-house data and these are always going to show a bias towards this market since they often don’t have a local physical office in an area. This means that they don’t have access to local buyers to the same degree as a local agent. The bottom line is that a good local agent has as much chance of selling your home to a foreign buyer as an international agent – the internet takes care of this. And don’t forget, local agents with a physical office also have better access to a the local market since people can physically walk into an office or look in a window. When all is said and done you may find that the difference between the two types of agent is just smoke and mirrors.