Diary of an agent: Nick Chivers and William Ward-Jones

Nick Chivers (pictured left) runs the Cheltenham and Cirencester offices of Knight Frank and is marking 25 years as an agent, while William Ward-Jones (pictured right) took on a new challenge earlier this year when he officially became office head at Stratford Upon Avon.

With offers being accepted at record rates as traction returns a month since market lockdown measures were lifted, the duo discuss how they are managing expectations.

How have you found lockdown?

Nick Chivers (NC) – A long held concern of mine is that estate agency has, broadly speaking, become faceless. There’s too much email. Ultimately, those that pick up the phone do the best. We have spent lockdown making sure we talked to clients, and we have won business as a consequence.

William Ward-Jones (WJ) – Definitely challenging. We had some of the staff on furlough, so it’s been about keeping a unified team and working hard. I’ve been very proud at how the team’s reacted. Constant contact with clients has definitely paid dividends.

How had the year started for you?

NC – Both markets had started strongly and were active ahead of lockdown. Cheltenham is always short of stock and there’s never oversupply, and we’ve picked up where we left off. The pause has frustrated the Cirencester office, as its weighted towards country sales and those properties take longer to bring to market.

WJ – We felt excited during January and February as we were coming off the back of the Brexit decision and the general election result. Lockdown arrived at the busiest time of year for launching new stock so most of that was put on hold. Now the brakes have been released and the property launched, we are incredibly busy.

Now the market is open again what are you advising clients?

NC – Our attitude is that the market is back where it was before lockdown. It’s very active and the country market won’t likely see its traditional slowdown in July and August as people won’t be away on holiday.

WJ – It’s about making sure you are sensibly priced. In some cases clients have changed their pricing to ensure they don’t miss the window of opportunity that we’re currently experiencing.

On that pricing point, what are you seeing?

NC – I haven’t seen wholesale reductions as lockdown didn’t lead to people saying “we’re not moving”. My advice to vendors remains to bring the property to market as you would have done pre Covid-19. I’m just preparing them for the fact that they may see some offers coming in slightly lower due to the commentary that’s running in the press.

WJ – Vendors are remaining pretty gung ho. There’s no reason for a price drop as the market hasn’t turned. If your property was sensibly priced before lockdown then it still is.

Has the make-up of prospective buyers changed as a consequence of lockdown?

NC – We are currently seeing the country market outstripping the town and city market. In Cheltenham I’d say as much as three-quarters of viewing activity at the moment is around country properties.

WJ – There’s definitely more London-based buyers. That’s being driven by the realisation that they do not need to commute into London as much as they thought. Twenty minutes longer on the train gets you a lot more home for your money. Given where we are, we are seeing a similar trend from Birmingham as well.

How are you approaching the next few months?

NC – It’s massively encouraging to see supply stock coming into the marketplace, and we have a backlog of instructions. My concern is that the autumn could be a more difficult time generally, so if you are looking to move it is best to act soon.

WJ – We have our heads down and are trying to get as much hay in the barn as possible ahead of the winter, which will be a nervous time. The lockdown experience has shown that we have a strong team that will pay dividends when things are not in our favour. I was particularly heartened by our ability to deal honestly and compassionately with clients, and understand some buyers’ nervousness. This undoubtedly kept deals together during lockdown and will serve us well during what has been a difficult time for many.