Why real estate is such a dynamic sector to work in

This article was written for EG’s Starting Out in Real Estate guide, click here to view the digital edition >> COMMENT I have worked in the real estate industry since 2009 and have become even more excited by the industry the further down my career path I have gone.  I started as a residential letting agent during my undergraduate degree. I followed that by working as a commercial property manager in London, where I took an MSc in surveying and completed my APC. I then moved into teaching property management with the University College of Estate Management part-time while running my firm of surveyors, NC Real Estate, part-time. Today, the firm has become my full-time role and I have a team of five awesome surveyors working with me. Strategy is key I discovered early on in my career that to be successful in property, you have to understand the intricacies of investment. Property portfolios have targets to meet and every landlord has different goals and returns they want to achieve. However, the portfolio is only going to meet them if you have tenants in situ paying rent. Therefore, you need to work on each property to make sure it’s well maintained and in the best possible condition to achieve the best possible rent, without racking up unnecessary costs which can quickly make a building a liability – especially if increasing finance costs are considered. Doing all of that well means you have to have a good strategy. Start with the numbers – what do you need to achieve? Identify the property that will do it. Purchase it and negotiate the best finance if needed and then manage it.  A rising tide lifts all boats You also have to remember you are not in a silo. What other landlords are doing matters. Where they set their rents and service charges and what they transact for will have a knock-on impact on your building. This can be a huge positive if you work together, as you can share tenants, strategies and costs – all of which can greatly improve an area, thus improving rents and values. A rising tide lifts all boats. I love both of these aspects of property: the whole portfolio life cycle as well as the community aspect, which is why I started NC Real Estate. First, to create a community of landlords who could exchange ideas and understand the mechanics of building a portfolio and the importance of data sharing so that everyone can benefit, as well as working with a select few clients to build their portfolios. Multi-disciplinary career What I have found is that, over time, I don’t just specialise in one area – I am multi-disciplined and can draw on my experience to think of strategies outside the box. Every meeting is different. At the time of writing this I had a design meeting for a serviced office concept in Chippenham, where we looked at window dressings (which improved EPC ratings while looking great), green walls, compact bike storage and partition walls that were made from recycled materials. Sustainability is a key focus, and it looks gorgeous.  I also liaised with the sellers of a portfolio we are buying in Bath for a client and discussed tactics for a telephone box portfolio my team has just acquired for management. I get to be innovative and encourage my team to do the same as the market changes constantly – what worked five years ago won’t work now.  The real estate industry allows you to be creative, innovative and, ultimately, redesign buildings so they work for both the landlord and tenant. That is exciting. You get to ask “what if we did this?” and then find a solution.  Natasha Collins is chief executive of NC Real Estate View the digital edition of Starting Out in Real Estate >> Photo © NC Real Estate