Back to previous blog tip on leverage, there is very little you can do in property without others. It’s just way too complicated. To take this to its extreme, watch one of the Grand Designs shows where someone tries to build a house on their own with very little help - it takes YEARS, if it gets finished at all.
So most would agree we need to collaborate with others to get things done in property however, this does mean you become reliant on others.
Property is really a people business, property is a by-product of successful relationships all the way down the process - buying (estate agents, auctioneers, solicitors), designing (planning consultants, architects, quantity surveyors), building (contractors, sub-contractors, suppliers), tenanting or selling (estate agents, buyers, tenants).
We therefore must become conductors of the orchestra, understanding the different roles that everyone must play, keeping them on track with clear briefs and communication. Some of the most difficult and frustrating points that SEPDC members talk about come from dealing with third parties when buying and selling property. This is often done at arms length and opens you up to mis-understandings around timings and performance, and a hot or cold market can heighten these issues. As always, open and clear communication are key.
Also, don’t forget the power of a good network, the answer to any conundrum is probably just a few calls away. Focus on building your network, helping people in need along the way, and this will come back you when you need it!
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