What is hindering your market at the moment?
Clarity and certainty. Which ironically sounds vague, but given the turbulence of the last four years, we’ve seen many changes in our client’s corporate strategies. We pride ourselves in being able to adapt to change swiftly and so this has also created opportunities, but a less volatile world for a few years would be a welcome relief!
What opportunities are you seeing in your market at the moment?
The reverberations of the past four years are evident throughout our business environment. They continue to impact the lease advisory area as lease events unfold.
As lease expiries or breaks occur, we’ve seen occupiers look to consolidate space and a push to update lease terms to meet current day requirements. This includes the increased provision of ‘green lease clauses’ which can sometimes create complexity due to misalignments between landlord and tenant needs.
We are passionate about improving our environmental footprint and have extensive experience in advising clients both from an occupier and investor perspective with this in mind. We are encouraged by the positive steps that our clients are taking to improve their impact and see this as a key opportunity for us to continue to add value.
What’s the biggest change you have seen in your sector throughout your career?
One of the main questions I kept asking during the pandemic was whether we had seen the end of the office market. We’d proved that we could work effectively remotely, people appeared to strike a better work-life balance, and the outlook for companies was a possible reduction in overheads. Clearly there were other factors in play – but the notion of working from home being better for the person, better for the business and as effective for clients begged the question of whether traditional office space was needed.
What has surprised me most post pandemic is just how important a physical office space is for companies. Working remotely from home may have its benefits for a few days per week, but the collaboration and interaction that you get from being in the office cannot be replicated.
What advice would you give your younger self when you first started your career in property?
I had a bit of an indirect route to where I am today having studied Building Surveying at the University of Reading and graduating during the Financial Crash of 2007-08. After working in estate management for three-years and then in property management for another eight, I finally found my niche in lease advisory. At times I felt worried that I was moving sideways in my career as opposed to forwards.
If I could speak to my younger self, I’d tell her that she had all the time in the world to spend at the top of her career, and that she should enjoy the journey getting there. If it takes her a couple of years longer, she should embrace it. The skills honed during my time at university and working in property management differentiate me from my competitors and empower me to deliver significant value.
When I was a graduate surveyor, I used to look up at the directors in my firm with an equal measure of fear and adoration/admiration. I hasten to add that they were all lovely (in case they are reading this!) but they represented the pinnacle of where I was aspiring to be. Now that I’m at that point in my career, I realise that I’m the same person as I was back then, but with better skills to navigate work. I’ve learned to master the intricacies of client relations and manage their expectations, to remain accessible to people within my team and the wider business for any questions they may have and to effectively manage my workload. So, I’d remind my younger self that the people I looked up to at the start of my career aren’t as different from me, and instead I should see them as accessible mentors. I’d encourage her to approach them confidently, armed with solutions rather than questions, yet unafraid to seek guidance when needed.
What has been the best piece of advice that you've been given during your career?
I have recently learnt about the ‘Trust Equation’:
Trustworthiness = Credibility + Reliability + Intimacy / Self-Orientation
Our industry is driven by people – and it’s crucial to show our clients that we care about them. That starts with giving them our undivided attention and promoting trust. We could be the most credible, reliable, and secure agents, but if our self-orientation is misaligned, our clients will never fully trust us.
Trust is a relationship that is integral to our business, and this equation highlights the importance of self-orientation, representing the genuine concern perceived by others. Embracing this notion has helped me to remain authentic whilst nurturing relationships with clients. During my first surveying interview, I was asked, “Is there a perfect solution or are there many solutions that will be suitable?” My response was the latter – that if the solution met the objectives and aligned with what was appropriate, then various solutions could work. I’m unsure if that was the response my interviewees were looking for – however I do reflect on the question every now and then.
Since then, I have sometimes fallen into the trap of seeking a perfect solution that does not exist. In some cases, striving for perfection can be a worthy goal – but the reality is that there is no such thing as a perfect solution – as the concept is subjective.