As the old saying goes, if you want something done, do it yourself. This is precisely the attitude that Jack Burgess and Marc-Vincent Klein, colleagues at Schroders, took when they set up the Society of Young Real Estate Professionals.
The society’s website went live in December, but it held its first meeting only in April.
Burgess says that he was prompted to set up SYREP when, having joined Schroders in early 2010, after starting his career with King Sturge, he was “surprised at how little exposure the younger professionals in the institutional side of the real estate business get to those like-minded chaps working for developers, consultancies and agencies in the West End”.
He adds: “Unlike the large graduate groups and subsequent network the West End consultancies offer, the financial institutions rarely take on real estate graduates or younger professionals, and when they do the individuals are generally from a finance background – and, as such, are detached from the young property professionals in the industry.”
Burgess spoke with friends and colleagues who shared his frustration at how detached the indirect investment market, institutional property funds, development firms and consultancies are for young people who work in the industry.
Networking platform
From this frustration, SYREP was born. Burgess says that the organisation – which now has more than 80 members, has no age restrictions, and is looking towards organic growth – has been designed as a networking platform aimed at bringing together not just graduates, but young professionals who have industry experience gained in the various parts of the real estate profession.
He says: “The idea is that the society will meet once a month, or at least every quarter, and listen to a selection of keynote speakers before getting an opportunity to share information.”
Such is the success of the organisation that Burgess and Klein have secured Mike Slade, chief executive of Helical Bar, to speak at the next event, which will be held on 13 July at Knight Frank’s headquarters on Baker Street, W1. Alistair Elliott, head of Knight Frank’s commercial division, is also speaking. They follow in the footsteps of William Hill, Schroders’ head of property, who spoke at April’s meeting.
“The support shown to the society by senior industry figures is absolutely invaluable,” Burgess says. “Part of the attraction of SYREP is that members not only get to meet other like-minded professionals, but are given exposure to knowledgeable, respected, real estate figures who are able to speak from experience.
“When individuals like William Hill, Mike Slade and Alistair Elliot agree to give up their time to speak to us, I think this reflects the spirit of the industry as a whole and is part of the attraction of real estate to young professionals today.”
Burgess makes his long-term goal clear. “Although several of the alumni associations [Reading, Oxford Brookes and Cambridge] provide a networking platform, all of them tend to be drinking reunions with ex-real estate graduates who now work for consultancies or developers,” he says.
“The majority of the institutional, financial and multi-management graduates and younger professionals are from a finance background and are therefore very much detached. SYREP, we hope, can help change this.”
Case study: George Hardcastle, associate development director, City Grove
I joined SYREP because it is a society which offers the chance to network with a variety of young professionals in different sectors of the property industry.
The group also offers the opportunity to interact with high-profile guest speakers who share their thoughts on the market while encouraging group participation.
Working for City Grove, which sources financial capital from major pension funds, I wanted the opportunity to broaden my contact base with the institutions and funds, with a view to generating new business. I also hoped to be part of a constructive society which expands my market knowledge and debates current issues.
Case study: Natasha Friend, assistant portfolio manager, real estate, Aviva Investors
Working where I do in Aviva Investors, I joined SYREP because it presented an opportunity to meet other young real estate professionals who work in similar or related roles.
The organisation is a great initiative, as it provides a forum for people working in these spheres to meet, exchange ideas and build valuable relationships across the industry.
The first SYREP event started with a talk by William Hill, head of property at Schroder’s, and it was followed by a group discussion on opportunities across the different sectors in which all members were encouraged to participate.
Both the talk and the discussion were really informative, as they provided a genuine insight into the current market conditions, challenges and opportunities.
Who has joined SYREP?
Schroders, Aviva Investors, Grosvenor, British Land, Deutsche Bank, Citygrove, Meyer Bergman, Benson Elliott, F&C Reit, Tristan Capital Partners, LaSalle Investment Management, Northridge Capital, Canmoor, Resolute Asset Management, Invista Real Estate, The Portman Estate, RREEF, Hiberno Saxon, Revcap, Pramerica.
