It pulls together so many different disciplines and professions, all working towards a common goal. But where does it all start from?
Not everyone in the industry is equally experienced and naturally there is an imbalance of knowledge.
Furthermore, the industry is relatively traditional and so there are plenty of experts who have collated an invaluable personal knowledge bank over a number of years which makes it difficult for fresh perspectives to enter.
Real life education
So how do new developers go about getting their education?
From a practical perspective, what you learn in the classroom, doesn’t always apply to real life, and what’s more, the cost of formalised education is so high that it’s difficult to justify when the return feels so far away.
What therefore is the solution?
From a lender’s perspective, the way the industry best operates is on transparency.
Being clear and open about necessary information, processes and common pitfalls is certainly beneficial.
It means brokers and borrowers can approach us with confidence, and we can be sure customers have the full picture.
Recently, we have seen the rise of a number of networking events which are about sharing ideas and swapping secrets.
The likes of the Property Earn & Learn and Property Investor Network have seen a huge surge in interest and that is a really positive thing.
It brings together property people on different levels and creates an open and collaborative forum.
We try to attend, participate and contribute to as many of these events as possible. It’s an opportunity for us to hear what the market is saying and to share our knowledge.
We also produce informative and educational content in all of our campaigns, including proptech, sourcing and selling, and granting a short-term loan.
We believe that by sharing knowledge, we are working towards a more collaborative and efficient industry.
The more that people know about the intricacies of the development cycle the easier each and every process becomes. In theory, it helps avoid unnecessary delays and inefficient exchanges.
Confident property people
It seems that people are becoming more and more aware of the benefits of sharing education and swapping secrets.
Historically, across a number of industries, there is a tendency to keep the best ideas for yourself.
While we don’t condone sharing all of our trade secrets, there is certainly a rise in authorities sharing experience and learnings for the benefit of the industry.
This, combined with the increase in collaborative virtual platforms such as Facebook and Linkedin groups, paves the way for peer-to-peer learning which undoubtedly leads to a more confident pool of property people.