Interview: Hamptons’ Craig Tonkin on positioning a heritage estate agency for success in today’s PCL property market

Earlier this year, longstanding national estate agency Hamptons (est.1869) unveiled a raft of high-level appointments designed to bolster its Prime Central London offering, now led by seasoned operator Craig Tonkin. In conversation with PrimeResi, Tonkin discusses how the business is performing amid the current uncertainty, adapting to seismic changes in the industry – and what it takes to reach the top in the most competitive of markets.

PR: Like many key players currently operating in Prime Central London, you spent much of your early career with Foxtons as a highly successful negotiator and manager; were there any big lessons you learned early on that continue to prove useful today?

CT: Yes absolutely – and none more so than that there is no substitute for hard work in our business – effort equals reward! Structuring your day is crucial for success and, while my approach has evolved, I maintain a structured diary, dedicating mornings to team interactions in the office and afternoons to follow-ups and interviews.

Tonkin spent over a decade as part of the management team at Marsh & Parsons, and was also on the board of Dexters; he joined Hamptons as Regional Sales Director (Central London) in January

You went onto senior roles at well-known agencies Marsh & Parsons, Dexters and Druce, before joining Hamptons at the beginning of this year to lead and grow their Central London region; how is the new role taking shape, and where are you seeing the biggest opportunities?

It’s been a hugely enjoyable first year, and there is no doubt that there are huge opportunities. Hamptons boasts an extensive and collaborative network and it’s fantastic to work in a company that works so seamlessly – and in my opinion uniquely in estate agency – across all geographies and all divisions to ensure the very best service for our customers, with a huge amount of experience within the company and world-class service standards.

One of the greatest areas of opportunity and growth is our Private Office

Our strategy focuses on being market leaders across all of these geographies and across all price ranges throughout a person’s property and life journey – from the very first studio rental to the sale of their country estate and everything in between. One of the greatest areas of opportunity and growth is our Private Office which provides a personalised broker service, but with the backing of a successful and established corporate for ultra high net worth clients. I’m really excited to play a part in this growth plan – it was only launched two years ago and has already grown significantly, but it’s just the beginning!

Hamptons announced a raft of new appointments in Prime Central London at the beginning of the year: (Left to Right) Mark Breffit, Craig Tonkin & Mark Cullen

Hamptons’ Private Office is led by Grant Bates and Joanna Cocking; how closely do you work with the team, and can you give an example of how this collaboration translates into deals?

The synergy between London and Country teams is paramount, and full collaboration between our network of offices and the Private Office is essential; but our Private Office clients are more than just London and Country – they are global, with extremely wide-ranging property needs.

From selling a mansion in Holland Park to renting a Country estate; using us to find properties for their children or staff or managing a significant portfolio, in the UK or overseas. With a huge international offering at Hamptons as well, the Private Office provides an expert, single point of contact for these discerning and rightly demanding clients that can work globally across all of Hamptons’ divisions to provide a truly bespoke and discreet service and throughout their property lifetime.

There are over 90 Hamptons offices spread across London and the South East; how important are physical branches to clients, customers – and the Hamptons brand – and are there any plans to expand the presence in PCL?

High street presence remains vital. Our offices see significant footfall from buyers, tenants, potential vendors, and landlords. As a brand, we’re committed to maintaining and updating our high street offices to align with our image and values and are currently two thirds of the way through the refurbishment of our entire branch network.

Not only does a high street location provide a service for our customers, they also provide an essential space for colleagues to come together and work as a team, ensuring our customers get a seamless service and our colleagues work in a fun and productive environment that they can feel proud of.

We are always looking at expansion opportunities, and have plenty up our sleeves in that regard

We are always looking at expansion opportunities, and have plenty up our sleeves in that regard, though that doesn’t always mean simply adding branches to an already established and well covered network coverage.

To what extent are your agents using social media in their marketing campaigns? Are clients now requesting exposure on various platforms as a part of the service?

The demand for social media exposure has grown significantly over the last decade, especially in the luxury market. While portal leads decreased in August, social media enquiries saw an uptick, highlighting its importance and we will continue to invest in it accordingly.

It takes a lot more than social media though to ensure full market reach, so we certainly don’t see it as a silver bullet and will continue to market our clients properties across multiple channels rather than just relying on socials as some do.

Some big changes are afoot in the portal arena; do you think the industry is served well by the big three of Rightmove, Zoopla and OnTheMarket? Roughly what proportion of leads are now generated via these channels

While the industry is generally well-served by the top three portals, the landscape is evolving. We’re adapting our strategies to align with these changes and maximise exposure for our clients’ properties across all effective platforms, and this goes way beyond the portals in today’s world.

Our most recent brand campaign includes everything from billboards to socials, print to portal, windows to local canvassing, but the most important avenue continues to be our database and local community knowledge, pairing the people we know with the properties we know.

The most important ingredient to success is still the relationship between customer and agent, beyond any portal or piece of marketing

So many properties, particularly at the upper end of the market – are not openly marketed and never reach a portal, so the most important ingredient to success is still the relationship between customer and agent, beyond any portal or piece of marketing.

Hamptons is one of the biggest and best-established names in estate agency; what is your view on the recent fragmentation of the industry, following the rise of US-style brokers? Is this a good or bad thing for the sector?

Unlike a number of other agents we don’t feel threatened by the emerging ‘broker model’, indeed we see huge opportunity to evolve with it. Forward thinking agents like Hamptons can offer a highly personalised ‘broker’ style service but with a marketing reach and network that no individual broker could ever parallel – a truly ‘best of both worlds’ experience for a customer.

One of the firm’s listings on Needham Road in Notting Hill (£8.5mn)

You have been involved in some significant high-value property sales during your career; what’s the best or most memorable property you have sold to date?

A beautiful house in the Phillimore Estate stands out. It was under offer with another agent and the sale was stalling; the vendor allowed us one viewing which we carried out, quickly securing an acceptable offer We sent out the contract on a Friday afternoon and exchanged on the deal the following Monday morning. Both client and buyer were delighted, as of course were the agents involved.

Are there any new prime resi developments have you been particularly impressed by recently?

Battersea Power Station, it caters to such a wide demographic of buyers due to the central location, just 15 mins walk to Sloane Square. Next to Battersea Park and the River. Direct access to the new Battersea tube extension, and an incredible variety of shops and restaurants all set within a very safe environment. Battersea Power Station is very hard to beat!

Battersea Power Station (Image credit Charlie Round Turner)

To what extent is the forthcoming Autumn Statement budget event affecting the prime resi market?

While market uncertainty is certainly impacting some areas and businesses, Prime Central London trading remains resilient for Hamptons, with sales up year-on-year and with particular strength in areas like Kensington and Chelsea. The expertise across the region, especially with our Private Office expansion, has been crucial in navigating these market conditions for high-value properties and clients across central London. Undoubtedly some buyers have adopted a ‘wait and see approach’ until after the budget, but there are plenty of serious buyers and sellers who would prefer to strike now than wait for others to do the same.

If you were in charge for the day, what policies would you bring in or scrap to improve the way the property market operates?

I personally would love to see mandatory sellers’ packs and a Scottish-style system of legally binding offers, alongside digitised conveyancing. Someone once coined the phrase to me ‘time kills deals’ and any way that we can reduce the amount of time and uncertainty for those in the market must surely be a good thing.

Have you noticed any recent shifts in international demand for London property, particularly given this year’s elections in the UK, US and Europe, and ongoing conflicts/tensions in other parts of the world?

Prime Central London’s appeal remains robust despite global challenges and we haven’t seen any great shift in demand from one country or another. Our Prime Central London team continue to see strong interest from international buyers across the board, attracted by the city’s culture, education, and investment potential especially in areas like Mayfair, St James’s, and Knightsbridge. We specialise in meeting the unique needs of this global clientele, offering unparalleled local knowledge and international reach.

What are the key skills required to become a top agent in Prime Central London?

Professionalism, in-depth knowledge of Prime Central London, adaptability and the ability to work across the full breadth of services are crucial. Our Prime Central London team and Private Office embody these qualities, offering honest, upfront advice uniquely tailored to each client’s needs. We view our clients as life-time partnerships, not single transactions.

What’s your latest cultural recommendation?

I’m not sure it’s a “cultural recommendation” but I do enjoy going to see live music at the many live venues London has to offer and I particularly love the Royal Albert Hall for its design and great acoustics, which is where I am going to see Jools Holland perform in November!

What’s the best advice you have received?

One of my first ever bosses in estate agency told me to ‘Just Be Yourself!’ Success in Prime Central London comes from consistently being the best version of yourself, executing the basics daily and maintaining professionalism. If you do this consistently well and conduct yourself in a dynamic, professional way success will follow – it’s a people’s business. Our teams exemplify this approach, focusing on personalised service and expert market knowledge for high-value properties across London’s most prestigious areas.