Is it a stunt or a symptom of the central London’s stagnating housing market? A Knightsbridge estate agents is halving its fees for new vendors or landlords who register with it on ‘Black Friday’, November 27.
The Patterson Bowe agency says in recent months many vendors in its patch of prime central London have been holding off bringing their property to market due to concerns about stamp duty and other moving costs.
It says its “exclusive, one-time offer” may encourage more stock to “satisfy some of the pent up demand” that it claims has existed for much of this year.
“Black Friday seems to have established itself as the day of the year when most retailers offer huge one off savings. In spite of the fact that Christmas is coming and one might expect a quieter few weeks ahead, we thought we would join in the fun” says Stuart Patterson, owner and managing director of Patterson Bowe.
He says the offer applies to landlords - and even tenants - as well, but only on that one day.
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Shameless PR stunt. And in Knightsbridge, too. It's not exactly going to make too much of a difference to those buying or letting in that part of the world, is it? A mere drop in the ocean for them.
Thought the very same thing. It's prime central London, do they really think vendors and landlords are going to care about the halving of fees. If you can afford to buy there you must have a fair bit of dosh going spare. You won't be worrying about saving the pennies, that much is for certain.
Isn't that what Black Friday is all about?
Also it looks like this promotion is only for landlords, vendors and tenants - not buyers!
Oh dear, what a bunch of killjoys! The ignorance is extraordinary. Mr Tarrey thinks it wont make any difference to anybody buying or letting in Knightsbridge, but seems unaware that's because Agents charge their clients fees, in other words Vendors and Landlords, not buyers and Tenants. He shows the same ignorance as bitter Mr Roder who assumes that just because you live in Knightsbridge you don't care about fees. Half fees in this area on a £2m sale would be around £15,000 to £20,000 PLUS VAT. I think those that can afford to live in Knightsbridge are probably very astute, very successful and know a great deal about money. And Mr Bamonte, in case you didn't get the message, Agents don't charge buyers fees!
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