SPECIAL FEATURE: Are property professionals being asked to do too much? – Annie Button

Special Feature: Annie Button has written an article that discusses whether property professionals are being asked to do too much.

The property industry has been one of the sectors that has remained extremely buoyant, even through challenging financial times. This has certainly been good news for those working in the industry, as it has ensured that even during a downturn, work has been plentiful.

Even the cost-of-living crisis has been unable to weaken the market, with house prices rising 11% through 2022. This all sounds like great news if you are in property. But whenever a market gets as competitive as the property sector, employees find themselves asked to do a lot more than ever before.

Whether you work as a conveyancer, an estate agent, or any role in property, the chances are that your job is busier than it has ever been. With new tasks becoming an important part of the role while all the previous aspects of the job are still necessary as well. In this article, we will take a look at whether property professionals are being asked to do too much by their employers, and what you can do to manage and deal with this workload.

The property market never lets up

One factor that has been influencing the property market and how challenging it has become for employees has come, ironically, from its success. If we think back to the Covid-19 crisis, we remember a time when a huge number of industries simply had to reduce what they were doing or put workers on furlough for an extended period.

The property market, however, never saw a downturn and, if anything, things ramped up. Estate agents were forced to completely change how they work and innovate as property viewings went online. Conveyancers had to embrace new ways of working to help and support clients looking to exchange as fast as possible.

Property professionals are suffering from burnout

The increased workload and forced adaptation to new ways of working has undoubtedly been challenging for property professionals. Indeed, they are the likely cause for the fact that 1 in 3 property professionals are suffering from burnout. Being stressed and overworked is forcing professionals to take time off to deal with fatigue or simply due to not wanting to face the job.

This is a serious problem. A portion of it no doubt comes as a result of the new ways of working that are being expected of those in the industry. Historically, property professionals have been quick adapters, but the challenge of an extremely busy workload alongside new ways of working has been too much for some.

Roles a property pro might play

Roles in selling property have always called upon staff to take on a range of different tasks. But with more property sales moving online, the industry has never asked for more from its employees. Take the role of an estate agent – the role of fielding calls, taking prospective buyers to viewings, and managing the negotiation between buyer and seller.

Today, the role has been extended to cover everything from photographer and videographer, and having to provide far greater depth of detail for online viewings.

Tips to make a property professional’s life easier:

- Photographing properties? Get into lens filters – if you’re not a professional photographer but you are being asked to take photos of homes for sale, it’s a great idea to learn about lens filters, as they can elevate your photography without technical skill. A polarising filter, for example, can add richness and depth to an image.
- Network with others in your industry – the ones who really know the tricks of the trade. No matter what role you have, it’s a great idea to go to events and networking sessions, not just to build industry knowledge, but also to find out how other property workers actually do their jobs, you might be surprised by some of the efficiencies you can find.
- Think like a buyer – if you were buying a property, what would you expect from the professionals that you encounter? Allow these feelings to guide how you operate and see if it can help you provide a better service.
- Learn to negotiate – no matter what role you have in the property industry, you’re going to have to negotiate at some point. “If your seller wants to achieve a certain sale price,” explains Quenby Solberg, writing for Harvard Business School. “But is also looking to close on their property within a certain period, a skilled negotiator might work with their seller to weigh which component is most important, and address this when presenting a counteroffer to prospective buyers.”

Will the market ease?

A key question on whether property professionals will see a reduced workload comes around whether we can expect the property market to ease. Of course, the cost of living crisis continues, and higher interest rates are pushing up the cost of mortgages, so we should expect this to have at least some impact.

But the property market has historically been very strong even through financial downturn. It is not necessarily prudent to believe that if you are working in the industry, the job is likely to get any easier due to a reduction of work.

What to do if you’re suffering from burnout

If you’re suffering from burnout, it’s important to take steps to address the issue and take care of your physical and mental well-being as a priority.

Some of the ways that property professionals can help alleviate burnout include:

- Prioritising self-care – make time for activities that allow you to de-stress and relax, such as exercise, reading, or spending time with loved ones.
- Re-evaluating your workload – take a step back and look at your work schedule and workload. Are there tasks that can be delegated or eliminated entirely?
- Seeking professional help – consider seeking help from a therapist or counsellor, who can help you identify the underlying causes of your burnout and develop a plan for addressing them.
- Learning to say no – learn to set boundaries and to say no to tasks or projects that are not essential or that you don’t have the capacity to take on.