Charting a path in real estate

In 2019, EG brought together a group of aspiring property professionals to follow their experiences through university and out into the world of work. Four years later, and with chartership in sight, Sarah Jackman catches up with them to find out how that journey is progressing and what they are enjoying about the industry. ELLA MOORE-HEMSLEY Graduate surveyor, Lambert Smith Hampton It’s just over a year since you graduated from NTU and started your role at LSH. How have you found it? It has been a steep learning curve entering a professional role, but incredibly rewarding. The collaborative environment has given me guidance as colleagues share their industry expertise, and having a cohort of graduates to share this experience with as we all begin our careers has been very beneficial. I would emphasise for any graduates coming into the industry or who have joined this September to connect with colleagues in and out of your company as it’s key to share your experiences and have support. As I continue to work towards competencies for my APC, I have had continuous support from my mentor and counsellor and feel confident about my development in this final year before I sit in 2024. I look forward to my next rotation in the industrial and logistics team. Your first rotation was in lease advisory. What were your impressions of it? Lease advisory offered a strong foundation, which will be transferable as I progress in my career. The work exposed me to a diverse pool of clients and provided a well-rounded perspective on the market as I worked with both landlords and tenants on retail, office and industrial properties. I quickly realised the importance of attention to detail when collecting and analysing comparable evidence and the need to stay informed on market dynamics, as small details can significantly impact lease terms and rental value. I found collating comparable evidence difficult when others were not answering my requests or willing to provide information, as this was crucial to add into the reports and create a rental valuation. However, I soon learnt small tips to overcome this and improve my success rate on gathering information. Your next rotation will be in industrial. What are your expectations for the coming 12 months? My time in lease advisory was a great base for learning the fundamentals, however I look forward to the “on-the-ground” experience agency provides. This year I will be on site more frequently in and outside of London, getting to grips with new submarkets and understanding the continually changing trends in the industrial market.  I am expecting a slightly more hectic schedule being on the road a lot more, but this gives me a great opportunity to meet a range of new people and build a strong network within the sector. As part of the role, I will mainly be involved in agency, acting for both landlords and occupiers. A benefit of the team is that I will also have the opportunity to gain experience in investment, allowing me to get a broad range of experience, which will stand me in good stead for my APC. How will your experience to date prepare you for the APC? My experience so far has provided me with a comprehensive foundation of knowledge and practical experience that will be valuable when sitting my APC in 2024. At LSH I have had support from a counsellor and adviser over the past year and have a clear idea of the competencies I am choosing and how this can be applied in practice in my everyday work. In lease advisory, I have gathered the technical skills to complete data management, strategic real estate consultancy and landlord and tenant competencies to level 3. As part of this, I have been asked to begin drafting my summary of experience examples, so I am starting to think about the process early, rather than leaving it until the last six months. I am also soon to have a “sign-off”, which will act as an informal mock to give me experience of the final assessment. Although I am nervous about this, I know it will be great practice. The final year and my new rotation will provide an opportunity to complete purchase and sale, and leasing and letting to level 3. Fortunately, in my two rotations I have been able to visit sites and complete many inspections and measurements on industrial, retail and office buildings, which will be key to my core competencies. Though the next year will be challenging, juggling a submission for the APC, revision and normal day-to-day work, I am excited and feel confident about sitting the APC this time next year. Have your initial experiences of real estate matched your expectations? While some aspects of my initial experiences have aligned with my expectations, others have been more challenging. My time at university provided a solid foundation of learning, but the practical aspects of working in London have required adjustment as I manage the workload, networking and effective communication needed when working as a team. While at university, lecturers emphasised the importance of networking and I can see the positive impact of this in my work. It is key to keep up to date with transactions and movements in the market. I am grateful and have thoroughly enjoyed my initial experiences as I grow as a professional in this field. I look forward to what more is to come. How do you see your future career path evolving? I am weighing up various factors which will help with my progression and career, such as specialisation, the changing markets and prioritising continuous learning. Conversations with colleagues and networking will continue to be crucial to expose me to different career paths and help refine my own aspirations. Recognising my passion and skills, along with a willingness to embrace change, will be essential as I navigate my career in this dynamic industry. LOUISE LAWRENCE Apprentice development surveyor, Savills You have graduated from your formal studies at UCEM. How was the final year? The year comprised writing my dissertation/case study while completing my final four modules. It was tough but extremely rewarding to have completed it. I had the utmost support from several members of the university staff, which was imperative to completing work on time and to a high standard. I look forward to receiving my classification and graduating in December. You have been working on your APC and will sit your final assessment in spring 2024. Which competencies have you selected and why? I am on the valuation pathway, so my core competencies comprise valuation, inspection and measurement, of which I will complete valuation and inspection to level 3 and measurement to level 2. The valuation competency is about the preparation and provision of properly researched advice, made in accordance with the appropriate valuation standards, to enable clients to make informed decisions. When undertaking valuations, we inspect the properties, which ties in with inspection as a core competency. This competency focuses on the requirements for inspections along with the required information and factors affecting the approach to an inspection. When undertaking inspections, we will measure the property. This competency is relevant to all data capture and measurement of land, property/assets. For my optional competencies, I have chosen loan security valuation, which is prominent in my day-to-day work, alongside development appraisals and purchase and sale. Both align with my current role in the development team. I have also chosen strategic real estate consultancy, which is focused on the provision of advice to clients on real estate issues influencing the business. How do you feel about your final assessment and becoming chartered? I am really looking forward to this next chapter of my career journey. Although a little nervous about the APC process and interview, I am excited to see what the future holds and what my career will look like post-qualification. It feels like yesterday that I started this journey and joined Savills. Now, nearly four and half years on, I am less than six months away from submitting my case study and associated documents and chartering is in sight. How have you benefited from the support of colleagues during this process? The support from colleagues has been invaluable. I am fortunate to be surrounded by chartered surveyors who have a wealth of knowledge and industry experience. My team has been helpful throughout my journey and two team members are assisting me directly with the APC, one taking on the role of supervisor and the other counsellor. We have had regular meetings, which have included reviewing CPD and ensuring that I have a sufficient number of days logged against each competency and each level. There have been a number of changes to the APC process over the past few years, so it has been beneficial to reach out and discuss them with newly qualified surveyors in the company. What are you enjoying most about your career in real estate? My career has been interesting, with Covid-19, the mini-Budget, the cost-of-living crisis, and unprecedented levels of inflation, to name a few. I have enjoyed the variety that my job provides and undertaking a broad range of work. Outside the day job, I have taken on a number of opportunities relating to diversity and inclusion, working with secondary schools and universities to provide career talks, and hosting students within the team for work experience. These roles have been very fulfilling and I look forward to continuing this. JAKE EDWARDS Graduate surveyor, Cushman & Wakefield When we last spoke, you had just secured a role as a graduate surveyor at Cushman & Wakefield. How have you found your first year in industry? Positively eye-opening! My first position was in logistics and industrial agency, where I met lots of interesting people and was fortunate to get involved in a wide variety of projects that have seen me provide advice to occupiers, investors and developers across multiple asset classes – a good learning curve. I have been working with the lease advisory team for the past few months. This has been insightful and a great opportunity as I am learning how to deal with rent reviews, lease renewals, re-gears, etc, via both landlord and tenant instructions. To what extent has the practical exposure to the industry given you an opportunity to apply the theory learned during your time at UWE? It has been very cool to deal with live scenarios and learn where and why the theory is applicable. Asking lots of questions and soaking up the wealth of knowledge in the office has also helped me get a good grasp on connecting the dots between theory and application. I am looking forward to gaining experience in commercial valuations, where I am sure the university number-crunching will come into practice. What will the second year of your graduate scheme look like? After completing 10 months in logistics and industrial agency, I moved to lease advisory, which is where I am currently sitting until commencing my final rotation in commercial valuations in the new year. Of course, the APC will come around quickly, so I plan on consolidating my knowledge over the next several months and seeking further experience where required. How are your APC preparations going? I am keeping on top of things by documenting daily work with reference to specific competencies and bolstering knowledge with CPD. I will soon start revisiting notes on projects I might use in my submission to keep the experiences fresh in the mind. C&W hosts regular interactive calls with the graduate cohort where an APC assessor runs through topics, providing a good opportunity to fill knowledge gaps and understand areas to gain more experience. You have previously talked about a possible career in investment. Is that still a career path that you are interested in as a potential career? Networking has been insightful – turns out there is a large array of opportunities out there, so I have quite a few ideas, however, investment/asset management roles are still of interest. I enjoy learning about the process of acquiring, disposing and holding assets and would like to gain more exposure in dealing with investments in general to further understand the reasoning behind advice to clients. It should help with personal investing too. To send feedback, e-mail sarah.jackman@eg.co.uk or tweet @EGPropertyNews