Diary of an agent – Aelish Paterson and Oliver Dawson

Aelish Paterson (AP) is a senior negotiator at Knight Frank’s Haslemere office in Surrey, while Oliver Dawson (OD) began work at Knight Frank’s Belgravia and Westminster office on the day the UK lockdown was announced on 23 March.

With the housing market reopening under strict social-distancing rules and Knight Frank introducing comprehensive protocols to keep everyone in the process safe, the agents discuss their experiences of lockdown and thoughts on the future. 

What have you found most challenging during lockdown?

AP – So much of our role as agents is, normally, being out in the field. So not being able to do that has been difficult. The other thing is that although I speak to my colleagues every day, I do miss seeing them as we’re a close-knit team. I also have to admit that when this started, I doubted I’d be able to work productively from home, but I have become a lot more disciplined so it has worked well.

OD – I walked in to the office on my first day to be told we might be leaving. It was the Monday that the prime minister announced the lockdown and all in all an extraordinary first day in the job. We’ve had morning and afternoon calls as a team, which has been great, but I’m looking forward to getting to known them more in the coming months.

How has the lockdown affected deals that were underway?

AP – I’ve only had one sale fall through after the purchaser had to divert cash elsewhere. In regards the property chains, people have adopted an ‘all in it together’ attitude. Everyone’s been kinder during this period. There’s been a lovely generosity of spirit, which I’ve really enjoyed.

OD – The property on the market is still there and the deals underway remain intact. Where possible they’ve continued to progress. We’ve had several deals where viewings that took place before the lockdown have continued through to exchange. My focus in the Westminster area of London – there’s a lot of flats and some houses – and people remain hungry to make transactions as they can see the long-term value on offer.

How’s sentiment been leading up to the easing of restrictions?

AP – Amongst clients it’s been a mixed bag. The sellers that had decided to come to market still intend to. Other clients are uncertain over pricing. I think it's early days to comment on how the market will perform, however the buyers I am speaking to remain keen to view houses as they were prior to lockdown. 

OD – Heading into this there was a lot of demand, as the economy was in good shape. There had been an increase in enquiries even before the government’s announcement that the market was being unfrozen, and we’re seeing strong interest from overseas buyers too. With the latter the travel restrictions will be a barrier, but people still want to make investments in London, and we can conduct virtual viewings.

How are you preparing for the resumption of activity?

AP -  Our office opens on Monday (18 May). At first there will be a skeleton staff of two and we will make the necessary preparations for social distancing within that environment. I am also discussing with clients the preparation required for viewings and the protocol involved. We will also be making use of video tours to lower footfall as a 'first viewing'. The videos that have been put together already have been well received by buyers.

OD – There’s been a huge amount of planning underway. We’ll be receiving guidance shortly over how to operate but we’ll be well prepared with sanitisers, PPE and social-distancing measures in place to ensure we operate safely.

With activity such as viewings allowed again, albeit under restrictions, what are your thoughts on the coming months? 

AP – I’m optimistic. People still want to sell this year and we as agents have arguably an even greater responsibility to help them to do so safely. Buyers remain keen to buy as the market was warming up before lockdown. Given what has happened over the past few months it is hard to be sure when you are selling your most valuable asset when the right time is – you are always going to be sensitive to what’s happening in the market – but the demand is still there. 

OD – I’ve not seen a lot to suggest a significant price fall [Knight Frank’s latest forecast predicts PCL prices will decline 5% this year with much of that is already priced in] as demand for both homes and investment property remains strong. There may be a slight correction but going into lockdown the market looked good and I expect that to continue. 

You can read previous articles on our Diary of an agent page.