Diary of an agent – James Toogood and Josh Marks
James Toogood has been head of Knight Frank’s Bristol operation since 2005, while Josh Marks leads a four-strong team of negotiators in the area he grew up in, London’s St John’s Wood.
3 minutes to read
With Knight Frank forecasting that the number of home sales in 2020 will decline by 526,000, a fall of 38% on 2019 transaction levels, the agents discuss recovery and why clients are looking for good advice more than ever.
How was the market ahead of the Covid-19 restrictions?
James Toogood (JT) - In Bristol we were seeing high demand for viewings and market appraisals (MAs). We had a good stock of properties coming to market, although in the country we were waiting for better weather before taking the photography. We’ll have a strong pipeline when restrictions are lifted, though.
Josh Marks (JM) – St John’s Wood is a major residential area within central London: we cover Maida Vale, Little Venice and Regent’s Park. The year started well as its an area, with Lord’s Cricket Ground, the London Central Mosque and American School in London, that people want to live and work in.
How is working from home?
JT - The main difference is not rubbing shoulders with your colleagues, but we have two daily team meetings online where we set our goals and then review them so that’s working well.
JM – I’m working in a flat with my brother and girlfriend. Our work space is in the kitchen – it’s busy but fun and we have even our exercise routine we do together.
What activity are you undertaking during lockdown?
JT- While previously we would have been updating clients on the viewings and undertaking MAs, we have been data cleansing and using the time to review past MAs instead. As a consequence, we’ve lined up 21 properties that will lead to new instructions later in the year. We have also undertaken four virtual viewings this week. While that’s a small percentage of what we would normally do, it shows business continues.
JM – Valuing property and bringing on instructions. Also, the advisory side of my role has been elevated. People want good advice more than ever: they had plans before lockdown and they want to know if they should still pursue them and what the impact of Covid-19 might be on pricing.
What’s been your biggest challenge in the current period?
JT - The biggest battle has been some of the negative press coverage around the property market that has predicted large price falls as a consequence of lockdown, as it can affect people’s mindsets and appetite to buy.
JM – Clearly we can’t undertake any viewings. However, that’s not to say things have stopped. I’ve just sold a four-bedroom maisonette to a buy to let investor in Maida Vale after a virtual tour. After lockdown he wants us to let it out for him.
How will your areas fair after restrictions are relaxed?
JT - We have more than 1,000 buyers registered with us as looking for property in the area. Web hits are up – rather like an extended Christmas period – and we have a lot of viewing requests. Bristol has suffered from a lack of the right stock in the right areas for years and irrespective of lockdown that hasn’t changed. Many of our buyers are looking to the medium and long-term – a home rather than an investment property – too.
JM – I think the area will recover quickly. I have a database of buyers actively looking to move to the area and we’ve still been seeing new property coming to the market. Amongst sellers there’s no pressure or need to sell cheap. Both buyers and sellers accept the current situation for what it is, a pause.