Posted by & filed under Blog, Opinion.

Doom and gloom have risen over the property market in the past months, especially focusing on the estate agency sales market. A question that is frequently asked of me is “Surely Lettings is doing a lot better than Sales isn’t it?”. But is it? I believe it is all a scare/ shock tactic of the EU referendum. As a first time buyer looking to purchase a property in South West London, I have had conflicting advice. I either hear “NO – do not buy now just after Brexit, bad idea WAIT” or “Yes April, it is a perfect time to buy, mortgages are at an all-time low!”.

So what is the truth?

What is the estate agency sales market currently like – behind all the façade of the UK exiting Europe?

I have researched this vastly for the past week, in property news, and speaking with brokers, Sales Managers, Sales Directors and various other estate agency professionals. It is clear that uncertainty shook the Sales Market after Brexit. The Guardian stated uncertainty of the EU Referendum drove the largest fall in people trying to buy a property since the Financial Crisis. The Institution of Chartered Surveyors (RICs) has also suggested the number of homes for Sale has declined more rapidly than at any other time since they started gathering information in April 1999! (Rics) have also stated that at least 1.8m more households will be looking to rent rather than buy a home by 2025. This has been proven by tenancies also increasing from 2.3m in 2001 to 5.4m in 2014. House prices in London are the second-most over-valued of all the world’s major cities, according to investment bank UBS.

The Guardians research, however, contradicts with figures showing the Brexit vote in June has not collapsed all consumer confidence which was so feared – Christen Lagarde stated prior to the EU Vote, that voting to Leave would lead to a crash in house prices. Whereas house prices have grown in September, and August by 0.3% and 0.6% according to their research.

Deutsche Bank analyst Reiff and Scheulfer made a huge case (over 70 pages worth) arguing that for any investor the economics in the London Property Sales market have been HAMMERED according to the FT times. The analyst’s state three main things to prove this fall – the tax deductions in 2015 have been restricted for higher income buy-to-let landlord’s. Secondly, increased stamp duty on buy-to-let and second homes, lastly changed the way landlords report their income, forcing them to register their gross rental income rather than the net income.

Facts, figures, stats and everything shown – People will still always buy in London, it is one of the most sort out cities in the word (even though it may be one of the most overvalued…). It will always be somewhere we (well me), will want to buy in.

What do you think? Is the Sales property market REALLY doomed? Or will it get back to normal as some facts have shown?…

I will keep you updated with my first time buying process.

Posted by & filed under Advice, Opinion, Uncategorised.

 

It’s interesting when I meet with my property clients as they often explain what they don’t like about using recruiters and why lazy recruiters are a problem. Very often they say it’s people throwing irrelevant CVs at them or meeting inappropriate candidates and wasting their time.

It’s also interesting  when candidates say they have spoken to recruiters and have 3 interviews lined up with various different estate agents – having never met the recruiter. Then once I have met the candidate I have no idea why they were put forward to those companies, it might be that they don’t fit the brand, aren’t qualified or just won’t fit in with the team.

At Cherry Pick People we spend a lot of time making sure we find the right opportunity for our candidate’s and the right candidate for our clients. As I’m sure you’re aware, finding the right candidate is not an easy task. If it were I’d be out of a job. The right candidate isn’t just someone with a good CV it’s so much more than that which is why I believe all good recruiters should meet their candidates.

Every company is different and has something unique to them whether it be the way in which they operate, the culture, or their brand, and whether someone is going to be suitable can only truly be ascertained upon a face to face meeting. Particularly in the estate agency industry where personality is so important. I often meet sales and Lettings Negotiators with lots of estate agency experience thinking they’re going to be a fantastic candidate for my client but upon meeting them I quickly realise that they’re not the right fit at all.  This stops my client wasting their time interviewing the wrong people and stops my candidate wasting their time seeing the wrong companies.

I think lazy recruitment is becoming a problem within our industry and is taking away some of the hard work and effort we do as recruiters. After all, I provide sales and lettings negotiators who make in some cases huge amounts of money for estate agents so the difference between the right candidate and not the right candidate might mean you make an extra £100,000 revenue at the end of the year.

If you are looking to recruit a sales or lettings negotiator or looking to get into estate agency, start here with Cherry Pick People – we will do our best to find you the RIGHT candidate or RIGHT opportunity.

Posted by & filed under Advice, Blog, Jobs, Opinion, Starting a new Job.

Handing in your notice can be a daunting experience that most people face in their working careers but are you changing jobs for the right reasons? I’ve certainly faced it during my career in estate agency in both my roles as sales negotiator and Assistant branch manager so I know how it feels.

 

handing-in-notice

 

10 things to consider before handing in your notice

  1. Do you really want to change roles?
  • Is this just a knee jerk reaction to something that has happened in the office, can you speak to your director and resolve the issue.
  1. What are your reasons for changing roles?
  • Will changing companies actually benefit you or will it just be a short term solution to the existing problem?
  1. What can you bring to the role?
  • If you get the role, can you deliver on the promises made in the interview?
  1. Is Property the right industry for you?
  • Do you genuinely enjoy your role in estate agency or do you have a passion for another industry but may not be brave enough to take the plunge?
  1. What do you know about the company?
  • Have you spoken to other negotiators or managers who work in the company, have you done research and due diligence?
  1. What are their values?
  • How do they do things? Do you have similar values? Can you work in the same way that they do? Do you believe in the same things they do?
  1. How many deals do you need to do per month as a negotiator for the move to make financial sense?
  • Are the targets achievable? Will you be able to perform in the role?
  1. Will you make more money?
  • In the long term will the move leave you financially better off?
  1. Are you prepared to start from the bottom again?
  • Trust and respect is earned and you will have to earn this.
  1. What impact will the move have on your work life balance
  • What is the work/life balance like, are you prepared to put in the ground work whilst you establish yourself in your new role?

It seems like a lot to think about when handing in your notice, but these key questions will allow you to fully weigh up the pros and cons before you accept a role.

As property consultants specialising in the property sector, we have these conversations with Sales and Lettings Negotiators and managers on a daily basis to ensure that our candidates are making informed decisions about their future. We follow up with our candidates throughout their career, as we want to be on hand to help and offer advice at every stage.

Should you be considering your next move or just want some friendly advice, feel free to get in touch with me on 020 3587 7687 or email me at lisa.clarke@cherrypickpeople.com

handing-in-notice

 

Posted by & filed under Uncategorised.

Brexit – Is the panic real?  It might seem like a long time ago now but just over a month ago on the 23rd of June, the people of Britain voted on whether or not they wanted to stay in the European Union. The result shook Britain but in particular, it shook London.

Now, I work in property recruitment and have seen the impact of the post-Brexit vote, I would be lying if I said it had no effect. But have I seen the result of Brexit, or have I witnessed what panic can do to a city? I have spoken to many people involved in property across London and the opinions have differed hugely, some believe this is the end of the world and others see this as an exciting challenge with exciting opportunities.

What have we heard?

  • London will become like a desert with no food or water, just pure despair
  • London house prices will plummet
  • The pound will plummet so much we can never holiday again
  • Everyone is now a racist
  • Nobody will ever invest in England again
  • Without Europe we are nobody
  • Looting and rioting in the streets
  • Jobs will vanish – literally, there will not be any jobs – ANYWHERE

These are some examples of panic and misunderstanding of the issues. Now some of these are valid points and I’m sure if we look at any situation from various angles we can see things differently. Before the referendum, an out vote wasn’t considered pure doom and gloom but when it happened and everyone panicked (especially in London) for many it was an opportunity to say “I told you so” and use a week of chaos to project this as the future of Britain. What I think people on both sides forgot after the debate is there were clear positive arguments for both sides.

Well, I am optimistic and positive, and it seems so are many of my clients. I spoke to a client last week who said Residential Sales in Prime Central London had increased by 10% and said the 2nd week of July was the best month for sales he had in 2 years. I’m not here to pretend there are not challenges to the Sales market but I believe much of this is through panic (To be honest if I was buying my first home I might be a bit nervous – because of the panic). On the Lettings side, it is booming with many clients saying it’s as good if not better than this time last year. They are open for business as usual.

Are we finally seeing a bit of calm in the market since the Brexit? I believe so, at least LinkedIn isn’t as depressing as it was a month ago. With the IMF (supposedly “experts”) coming out and saying that they made a mistake and now a recession doesn’t look likely, that will surely boost confidence (BUT let’s not forget they got it wrong on their last forecast). But what I have found most interesting are in areas where the majority of people voted Brexit have seen an increase in house price and the opposite for where people voted to remain. This, in my opinion, shows the effect of panic.

What we must realise is there will always be scaremongers we saw it before and after the vote.  But most importantly there will always be change, history tells us this – whether it be to leave or remain. The property industry is not doom and gloom, although with every industry there will be good and bad times.

If you are currently working for a company that is making you feel that deals can’t be done or is using Brexit as a reason to not push forward don’t let them hold you back, there are PLENTY of great agencies still making money, still employing and still moving forward.

Posted by & filed under Advice, Motivating, Opinion, Starting a new Job.

Are you the “Wolf of Your Street”? On a daily basis, we get asked by candidates what they can do to make themselves more successful in order to secure their dream job in estate agency.
This is something that many of us have wondered within the estate agency industry, what makes a successful estate agent, is it all to do with mind-set, is it personality or do you just need to model yourself on Jordan Belfort?

Here at Cherry Pick People, we think the most successful estate agents have the following traits:

 

1. They have a positive mind-set

Spend time with positive like-minded people, do not waste time with people who focus on negative things. Successful people focus on the positives when going through rough patches, making their rough patches easier to handle.

2. They are passionate and enthusiastic

Estate agency can be tough at times, be committed to providing outstanding customer service, keep your landlords, vendors and buyers and tenants updated at all stages. Return their calls and emails in a timely manner, don’t wait for them to chase you. Every call you make to them should be like it’s the first call you have made all day.
If you want them to buy/rent a property from you, show them that you are passionate about the property. Sales is a transfer of enthusiasm!

3. They know their area

Become a local expert and engross yourself in the patch that you work in. Landlords, tenants, vendors and buyers want to pick the right person to do the job and having that knowledge of the market and a proven track record creates confidence. When a question is asked about a street, you need to know what has sold recently, what the highest rent achieved is, where they can go for a hipster coffee, where does the best unlimited prosecco brunch, where they can go for the best breakfast martini or Camden pale ale.

4. They put in the hours 

The most successful estate agents are the first ones in the office and the last ones out, they are in early picking up all of the leads and the last one out of a night doing viewings and valuations. If people don’t answer, call them again, use the technology you have at your fingertips, call, text and email them, set reminders.  Simple, yet effective.

5. They understand their client’s motives for buying, selling, letting or renting

The best estate agents will know the situation as to their client’s motives and work closely with them to get the best results. By taking the time to really get to know your client’s needs, you build a stronger connection ensuring you offer only the best solutions.

6. They have a great network

Make sure that you know who the best contractors, surveyors, mortgage brokers and solicitors are. By offering contacts that have the same level of service you do can really help you develop a strong network and just as you will recommend your contacts, they will recommend you meaning that many people will come to you based on reputation alone.

7. They practice their pitch

Deliver your pitch confidently tailoring it to suit the client that you are speaking to. Confidence is such an important part of working in agency. I know people who still practise their pitch in front of the mirror, even after 15 plus years in agency. They are always striving to be better and are some of the most successful estate agents I know.

8. They don’t let other people’s negativity bring them down

If you are doing well at work, there are always others who may not be. Don’t catch their negativity, if you are working hard and achieving your targets, keep on going and you will continue to succeed.

9. They appreciate the value of hard work

They want to make money as ultimately a sales job is about making money. They like to buy nice things, go on the best holidays, eat at the most amazing restaurants and really enjoy their lifestyle.

10. They use the best recruiters

Cherry Pick People work with some of the best people in the estate agency sector, we guide candidates through all aspects of their careers, as we have the knowledge and understanding of how the market works. The majority of the team come from a property specific background and are experts in their fields, meaning that we really know what it takes to be successful in estate agency. We meet all of our clients and candidates face to face, which is invaluable as we can really ascertain a candidate’s suitability for the role and also that the candidate will fit into the working environment and match the company’s values and culture. We cover all aspects of property, from front line estate agency, to administration, property management, construction and back office support.

Why not give us a call on 0207 801 6318 and see how we can further your career.

Posted by & filed under Interview Tips.

Some interview questions often throw my candidates when they’re interviewing for a job in Estate Agency – let’s start with one of the most common interview questions ever-

“Tell me about yourself”

This question is probably the one I am asked for advice about the most – what is the best way to answer it? Remember, it is a way for the interviewer to see how you react to a non-structured question and see what you deem as important!

Firstly, this is not a cue for you to tell your life story (this is probably the biggest mistake candidates make with this question – “well I was born in Richmond in 1990 in a little house by the Thames, I went to St Marys School and really enjoyed my cycling proficiency test…” don’t get me wrong – It’s great to open up and tell the interviewer about your past – but please, save it for when you actually get hired.

Another key mistake is to answer with “well, what would you like to know?” …Goodbye to the job you have just been preparing for the last week – this would just scream a lack of preparation and not being able to work well under pressure. Seems harsh? Well yes, it is, but so is a sales role!

And lastly another common mistake – the 20-minute answer! Going off on tangents is a very common mistake (which trust me, I am very capable of too). Keep it as short as possible 1 to 2 minutes max! You will have more chances to show your strengths and attributes later on in the interview.

Remember, this question is a perfect time for you to take control of the interview and to sell yourself as to why you are the perfect candidate for this role and accomplishments you have achieved to show this. What experiences and skills you have which are relevant to the job you are applying for!

So, what is the best way to answer this question?

Research conducted by Marc Cenedella (founder of Knozen) suggests you focus on what you can do to fulfil the needs of the company you are interviewing for. So when being asked the “tell me about yourself question” think about the qualities the company will WANT in order to do the job successfully. For example, “I’d really describe myself as a person with a versatile skill-set, a lot of integrity and a willingness to go the extra mile to satisfy a customer.  Perhaps the best way to let you know what I’m about is to share with you some relevant experience I have.“– ALWAYS give examples in the workplace where you have shown this!

If you have NO experience – do not worry! The company will have already seen your CV and want to see you anyway – focus on the attributes you have to make you successful at the job – for example “competitive – having played netball throughout school and college” etc. A lot of the time personality is 50% of the job done! Energy and enthusiasm are also just as vital!

So when you’re going for your next estate agent position and you’re being asked the dreaded “Tell me about yourself” question, grab the opportunity with both hands and really sell yourself as to why you would be the perfect candidate for the job!!

Good Luck!!!