Rumours that the heads of Manchester’s biggest surveying firms are trying to revive a property version of one of Granada Studios’ most successful TV shows are sadly wide of the mark. Stars in their Eyes fans hoping to hear the line: “Tonight I’m going to be Nick Leslau/Liz Peace/Irvine Sellar/Mike Slade” may be disappointed, but there is genuine concern about a recession-induced talent gap.
“Between 2008 and 2012 the intake of graduates into major firms was cut back,” explains David Lathwood, head of JLL’s Manchester office. “So, those who are now around 30 are in demand because there are not many of them. There is no doubt that there is wage inflation in that category.”
Although this isn’t exclusively a Manchester issue, there has been a growing recognition by senior professionals in the city over the past few months that taking on staff at a certain level has become much tougher. “It’s not easy to recruit at the mid-tier,” confirms John Ogden, head of CBRE’s Manchester office. “There is definitely a shortage of people, especially in building consultancy and property valuation.”
The problem is most acute in areas such as these, where extensive technical knowledge is required. However, for other disciplines, notably agency, the best solution might be to recruit non-surveyors. “Being a member of RICS isn’t a prerequisite to getting on in the profession,” notes Canning O’Neill co-founder Mark Canning. “A lot of property is almost management consultancy, where you don’t need that level of qualifications – it’s about deal making.”
So a twinkle in the eye and the ability to deliver impressive patter could be more important than a detailed understanding of yield regression.
A good deal of the technical stuff can be taught on the job, says Will Lewis, co-founder of OBI Property: “When you first give non-property people yields and comparables they can find it a bit scary. And they can take a bit more time to get confident, but property isn’t rocket science.”
While property may not be the most technical of professions, how attractive it is to the latest generation of graduates, who may be dazzled by the bright lights of the tech sector? The consensus among Manchester agents is that recruiting young people into surveying is relatively easy. Holding on to them may be less so. Staff retention revolves around three factors, not just money, reckons JLL’s Lathwood: “Paying the going rate helps, but what is also important to young people is a very clear career path and a culture where they are encouraged and valued.”
Whether there will be more diversity in Manchester’s next generation of property professionals remains to be seen. Although there has been progress in gender equality (CBRE now claims that its North West workforce is equally balanced at all levels), recruitment from ethnic minorities (around 10% of the North West population is Asian) remains more of a challenge.
FREDDIE GUEST
Age: 25
Job title: Surveyor
Property discipline: Investment agency
Employer: Savills
Among the pick of the crop of 2012 graduates, Freddie left Oxford Brookes with a first-class degree in real estate management and, after different placements within Savills (including valuation, licensed leisure, hotels and out of town retail agency) became MRICS-qualified. He has already established a number of strong client relationships, including Manchester Airport and Canada Life.
LUKE WILSON
Age: 26
Job title: Senior surveyor
Property discipline: Investment agency
Employer: CBRE
Luke joined CBRE in September 2012 after a competitive graduate recruitment process and was thrown in at the deep end of industrial agency. He survived his first year of shed-shifting, and moved into valuation before taking on a role in capital markets. Within 10 months of becoming chartered he had been promoted and is the youngest individual in CBRE’s North West business at this level.
GEORGINA ROSE
Age: 28
Job title: Associate director
Property discipline: Valuation advisory
Employer: JLL
Georgina has led the JLL “Next Gen” initiative in the North West, promoting networking opportunities for the firm’s surveyors to associate directors and their client equivalents. She joined King Sturge as a graduate surveyor in 2009 and stayed on at JLL following the merger in 2011, the same year she became chartered. Georgina has also been heavily involved with the RICS and is currently a judge for the RICS Awards 2016, North West.
JOHN NASH
Age: 33
Job title: Associate director
Property discipline: Commercial agency
Employer: Canning O’Neill
After graduating with a marketing degree in 2004, John joined Abbey Business Centres (now part of Regus) in a marketing role. It was here he made the crossover into sales. In 2010 he launched his own online office agency business – Offices Up North – before moving to Canning O’Neill via Bruntwood. He is now finding space for occupiers he dealt with at the start of his career.
