For RFR managing director Sophie Rogerson, the role of the buying agent in the London prime property market is more important than ever.
The marketplace is extremely fragmented, and has become more so in recent years,’ she says. ‘The division of allegiance and where the conflicts of interest lie have become really murky and muddled. And I believe that you can only sit on one side of the table – the market needs to know where you stand and that you represent the buyer.’
RFR has never deviated from its core value of only acting for buyers. As a result, Rogerson says, sell-side agents are more willing to collaborate and open their books, often resulting in access to off-market, rare and privately offered properties.
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Founded in 2010, RFR is a ‘small but perfectly formed entrepreneurial business’, and Rogerson works alongside her husband and business partner, Richard, and a team of advisers to bring market knowledge, integrity and credibility to the acquisition process. Equally important is access to a network of trusted experts.
‘If you are buying best-in-class, unique, special properties, it’s unlikely that you’re the only show in town. You have to move fast, and you have to have an incredible team,’ Rogerson says. ‘We work with a really small group of the best private clients and property lawyers. We work with surveyors who will go in on a Sunday and pull their team together. There’s a real ecosystem that we can draw on for our clients, and that’s hugely valuable to them.
‘Our ability to do that and to transact quickly means that we can offer something incredibly compelling when we’re negotiating, and then we can also make sure that we get to exchange in a timely manner so that both parties have certainty.’
[See Sophie Rogerson’s Spear’s 500 profile here]
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Speaking of negotiating, Rogerson thrives on transacting, doing deals and, most importantly, winning. ‘I love pulling it all together, and then seeing the outcome for the client is incredible.’ And while she has ‘undoubtedly’ seen a decline in the number of UHNW buyers in London, she says it’s not necessarily as dire as the press would have us believe.
‘We actually have our first client we’re onboarding who’s about to take advantage of the new FIG regime [tax relief on foreign income and gains for new UK residents], which is weirdly quite exciting because it shows that this is becoming attractive.
‘I think we’ve built a business that has shown itself to be extremely resilient through quite difficult times. It doesn’t feel like we’ve had many years where there hasn’t been something going on, but I think that builds your backbone.’
This feature first appeared in Spear’s Magazine issue 98. Click here to subscribe
