The rise and rise of London's off-market transactions.
23rd June 2022
Buyers, sellers and brokers.
“In the USA, where all buyers and all sellers employ an agent, brokers are pretty much the norm,” says Ashley Wilsdon, Middleton’s Head of London Buying. “But in the UK brokers were virtually unknown until about five years ago.”
“Now, there are around 150 brokers in Prime Central London who buy and sell. This has greatly increased competition for the well-established, high street estate agents and resulted in a marked increase in the proportion of London properties that are being sold off-market. So, however savvy you are, whichever selling agent you have on your side, it’s increasingly difficult for you to have visibility of the real ‘trophy’ assets – the best-in-class properties, that never reach the open market.”
Why Middleton is not a broker
“At Middleton, we have developed close relationships with this new generation of brokers because we have very clearly defined roles,” says Ashley. “My team only represent private clients that purchase. James Moran’s team only represent private clients that sell, and so we are very much specialists in our areas, retaining absolute impartiality and independence.
“And that, of course, is where Middleton excels. By extending our network to encompass London’s brokers we’re doubling down on our own specialist skills as buyers.”