It never fails to amaze me how versatile our profession is. Regardless of what is thrown at it we adapt, recover, rebound, and evolve. Legislation is tough but we embrace it, market conditions can be challenging but we rise to that challenge, opportunities present themselves and we seize the moment. A worldwide pandemic and surprise surprise we excel in it.
Working in the property industry for a period of time without doubt creates a breed of individuals which, if they choose to, have the requisite skills to operate in nearly every environment. They can be team players, they can be lone achievers, they can be great communicators who relish handling complaints and adversity as much as receiving praise for their efforts. In dealing with the public, stepping into their very homes they develop a confidence and intuition which is second to none. A steely determination and resolve to get things achieved and these are skills which many of us take for granted and many do not appreciate they have developed or fully utilise.
I have seen many previous industry practitioners move into other professions and sectors, making considerable headway, purely based on the core skills they have learned in estate agency, often overtaking seasoned veterans in those professions. As a training ground we offer a level of development which many would probably pay for rather than be paid to do.
Regardless of what happens, we have opportunities.
And let’s be realistic, other than pharmaceuticals and PPE suppliers, there are not many industries which will come out of the pandemic in considerably better shape than they went into it and yet we will and overall, by quite some margin. A difficult thing to say but Coronavirus has created a lifeline to some estate agencies who may not be trading in the same way they are today had it not been for the pandemic.
Others have seen the opportunity to invest and acquire whilst others are seizing the opportunity to sell up and retire. Sales and acquisitions are happening at a level not seen for a long time and not just to the corporate buyers. Many local agencies are absorbing regional competitors.
Many more individuals have improved knowledge and learning attending unprecedented amounts of training courses, started professional qualifications, and booked examinations. As an industry we have adapted and integrated new technology, embracing video and evolved a model that may never quite go back to ‘the way it was’; proptech has shown itself to be a useful partner and allowed us to operate even through the most rigorous restrictions.
From the trainee negotiator right through to the business owners this has been a trying period from which we are now emerging like butterflies from a chrysalis having undergone a dramatic transformation. The important thing being we do not forget the lessons we have learned.
It is however inevitable that things cannot continue at the levels they have been. We have seen dramatic surges in prices achieved as pent-up demand has been released like a tidal wave as householders seek a new lifestyle. That tidal wave will subside inevitably and hopefully it will gradually level off to a steady flow rather than dropping to a trickle.
The Government will introduce incentives to keep the housing market going in the longer term aimed at first time buyers and sustainable purchasing to help younger generations get a foothold on the ladder, evictions will start again and properties held in arrears will remerge to the market as the pursuit of unpaid rent will begin.
Regardless of what happens in the market ahead we have opportunities, we may just have to work a lot harder to uncover the nuggets within.
Speaking to numerous sales and lettings business owners every day it is clear everyone is pleased how busy they are, the need for new stock, STC pipeline stock, fees, staff, the money in the bank – the list goes on and it’s very easy to pick fault at what has not been done and what should still be done, to the need to start future proofing now and plan for a new horizon but perhaps it’s good to stop, stand back and reflect.
Not often I say this but as individuals, companies, and disciplines within the industry whether it be Sales, Lettings, Auctions, Commercial or Surveys we should for once give ourselves a well-deserved round of applause and appreciate just what we have achieved as a collective industry in such a short space of time.
Never have I been prouder of being involved in this industry than right now.
Applying the KISS principle – basically folks you are amazing…
Talk to Nathan at [email protected]