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Critics have not been too kind to the UK’s response to such shows for sale sunset and buy beverly hills: A new real estate reality show buy londonwas released on Netflix last week.
But that doesn’t bother Daniel Daggers, the founder of DDRE Global and the star of the series, which follows Daggers and his firm’s agents on some of London’s biggest Work in a luxurious area and make a living selling “super mansions”.
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“It’s not easy to be able to give Netflix the keys to the London market,” Daggs told Inman in a recent conversation. “But thankfully we were able to do that. And very few people are able to do that, so it’s a very exciting opportunity.
Dagger recently sat down with Inman to discuss the show and its reception, his perspective as an outsider on the commission proceedings and resulting settlements, and other similar topics, including Americans’ “crazy affinity” with Britain, which he Think this might be the year that this is a big move in terms of U.S. overseas investment.
Get a chance to be in the spotlight
protector is called buy london, “possibly the most hated TV show of all time” and gave it a zero star rating. But Netflix took the harsh criticism and took action, promoting the show by promoting reviews on Guardian’s Rebecca Nickerson, Zero Star and more.
Dagger is no stranger to reality TV, so may be better prepared than others to face public criticism. He has appeared in New York Million Dollar Listing, Los Angeles Million Dollar Listing and Parisian Society.
“When they want a royal from England, they tend to kick me out,” Daggs told Inman. “After doing this, I was really scared of how Netflix was run and how much influence it had, and when they contacted us we kind of took it for granted, although it took us a while to agree to everything because it was such a big step for us. .
This time, the stakes are a little higher, as the focus of the show is on his company and his agent, without outside distractions. But unlike many new agents on real estate reality shows, Daggers had more than two decades of experience before stepping into the spotlight.
“Before we did this show, I had been in this industry for 25 years,” he explains. “So I started selling studio apartments for $100,000, and I climbed my way through the industry by my nails, right to the top. I’ve stayed here the same way I’ve always done it for decades.
“Then, choosing to say, ‘Hey, I’m going to put myself out there to the world,’ I think that’s a very brave step when you’ve had that level of success,” Daggers continued. “But will it be criticized?” he asked about critical comments. “Absolutely. Whenever you do anything different, most people will almost always criticize.
Buying London cast: Lauren Christie, Olivia Wynn, Ollie Hamilton, Rem Nicole, Daniel Daggs, Rosie Varden, Rasha Bagdonavicho Ted and Juliana Adenius | Netflix
Observing Commission Litigation from a Distance
Daggs said it’s interesting to see from an outside perspective the significant changes that have occurred in the U.S. real estate industry following the commission’s lawsuit. From his perspective, he sees the UK brokerage model getting closer to the US and vice versa.
In the UK, companies have traditionally operated on an estate agency model, which is not commission-based. Agents earn a salary and a small commission on each transaction, with the company taking the majority of the commission. Agents are paid by the seller, and buyers have typically not been represented in transactions in the past, although buyer representation has become a growing trend over the past decade, Daggs said.
In contrast, more consumers now question the value of U.S. agents, potentially reducing U.S. buyers’ chances of seeking domestic agents in favor of the old British trend
“It’s very interesting because your industry is moving toward our industry norms and our industry norms are evolving toward your industry norms,” Daggs said. “I think I know where it’s going to land. In industries that are trying to find a new home base, you’re going to have these pain points because the way we work and operate has become digital.
Daggs believes that U.S. residential real estate transactions will introduce “more friction” due to changes already underway in the industry due to commission lawsuit settlements, such as written buyer agency agreements, which will make buying and selling more difficult. Buying a home has become more difficult for consumers.
“My view is really simple,” Daggs said. “The more friction there is for buyers to find a property, the more difficult it is and the longer it takes to close.”
“Prior to the NAR results, the U.S. system was a very efficient system because it gave every real estate agent the opportunity to sell every piece of property,” Daggers continued. “Right now, there’s friction between agents or brokers in introducing properties to people, which means properties take longer to sell and no one is better served.”
Election year opportunities
Daggs told Inman that whenever an election year comes, American investors seem to be more interested in buying property in the UK. In years when the outcome seems particularly uncertain, it’s easy for U.S. buyers to start dreaming of life across the pond in case their desired candidate doesn’t win.
“The United States has a crazy close relationship with the United Kingdom,” Daggs explained. “They loved the glamor, the British style, the royalty, the architecture and the accents that I got for free. The synergy was wonderful.
Dagger added that in the United States and the United Kingdom, elections are likely to be extremely polarized. If their unpopular candidate wins, the wealthy with the resources and flexibility will use those resources to live the lives they want, often with London as their home base.
“What I’ve found over the years is that a lot of wealth has been created in the United States, especially in the tech sector, and for the past few decades people have been languishing behind desks and vacationing all over the United States, and now they’re The rise of media and now, the shows on Netflix, people are going to be interested in traveling the world with their kids and having some freedom because they have the wherewithal to do that,” Daggers said.
“We see a lot of Americans moving to London as their ‘jump’ and then they bounce around Europe, Asia and places like that. We saw that in the last election; I suspect we’ll see it again this time See this in the election.
Daggs added that since Americans and Britons speak the same language, it’s obviously an easier transition than for American expats who might choose another European country as home. Daggers said he ended up doing a lot of business with the top agents in the U.S. for that reason
But this shared language and American craze for all things British also helped Buy from London ranking on Netflix, even if critics disagree – the show became one of the 10 most-watched Netflix shows in the US within its first 48 hours on the platform
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Email Lillian Dixon
