Property Focus: The Interview – Liz Wilson

IN our series of interviews with top professionals from across the property sector, TheBusinessDesk catches up with Liz Wilson of Cheadle-based lettings agency XYZ Properties.

What are your views of the current state of the commercial property and property development markets?

Our interests are predominantly in residential property, and within this arena we have noticed a significant decline in the amount of new stock available. The UK recession has impacted negatively on the property market, which has had a knock on affect to contractors and builders who have been hit hard by the recession.

Developments have been further hindered by a lack of funding, which has limited activity in both new build and existing stock. Plus, the reluctance from lenders to offer buy-to-let mortgages has significantly impacted on the property market.

But for those landlords who have the funds available, there have been some fantastic opportunities to increase existing portfolios by taking advantage of the opportunity to purchase well priced stock.

What key challenges and pieces of legislation do you think will most affect your sector over the coming months?

The 2008 Rugg report highlighted weaknesses in the rental market, which included rogue landlords and agents. It was proposed that landlords would be required to register and receive a license number, which would be the prerequisite for any form of landlord activity.

The more preferred option in the Rugg report relates to a national register for landlords – the impact of which would have higher costs and higher administrative burdens. There is also a strong Government push to the mandatory licensing of lettings and managing agents.

The mandatory scheme would require agents to have professional indemnity insurance, adhering to a strict code of practice and having client money protection.

I’m undecided on my feelings towards the landlord licensing, but certainly from an agent perspective I agree with the need for these changes and have ensured that our offices are fully compliant with the proposed requirements.

Why do you think the North West is a good place to work?

Manchester has benefitted from an influx of investment and development over the past ten years, and has evolved into one of the country’s most popular cities for business outside of London.

Steady expansion within the city has played a vital role in its rise in popularity but other factors have also contributed to its business crown, such as impeccable transport links, vast and varied accommodation, both residential and business, and an abundance of entertainment, making it the city of choice for many. As a Manchester girl born and bred, I am probably a little biased!

What is your favourite building in the North West and why?

My favourite building is a residential property I viewed for a client – Chorley Old Hall in Alderley Edge.

For those that don’t know, Alderley Edge was previously called Chorley until the railway was introduced and it was renamed Alderley Edge, as it was felt Chorley didn’t reflect the quality of the area!

It is the oldest inhabited house built in Cheshire in 1330 by Robert de Chorley and extended in 1523 by the De Davenports when they added a stunning black and white timbered (Tudor) wing. It retains its 15th Century bridge over the moat that surrounds the property.

If you could improve anything in the region, what would it be?

Metro links to South Manchester and beyond and, of course, the weather!

What was your first job and how did you enter your current line of work?

My first paid job was aged five, it was Mothers’ Day and I needed money for a gift. My dad said he would pay me to clean his office from top to toe. I was taught the importance of earning an honest crust from an early age.

Following university I worked for seven years dealing with road traffic accidents at a firm of solicitors in Manchester.

After a short stint of owning a luxury pet boutique (my passion is my dogs) I decided I’d like to support my family with its property business. I have always been involved in the sidelines of the business from purchasing our first rental properties over 10 years ago, to renovation projects and now lettings and property management with XYZ Properties.

What do you most enjoy about your job?

I’m one of those people who needs a constant challenge and lots of variety – my job provides that. One day I can be sat at my desk preparing a report, the next day I’m painting the front door of a house. There’s something new to keep me occupied every day.

Working with my family is also very rewarding, although I never thought I’d see the day that I was taking orders from my little brother! And my dogs come to work with me every day.

What barriers have you faced during your career and how have you overcome them?

I don’t really have any to report as I don’t see them as barriers, more as challenges, which with a bit of determination, hard work and a dusting of charm you can always overcome.

What is the best piece of advice you’ve ever been given?

I have two that always stand me in good stead: ‘dare to be different’ – always find something unique to make you stand out from the crowd, it’s a good selling point.

And ‘It pays to be paranoid’ – never take things on face value, get everything in writing, check, check and double check any deal that involves your hard earned cash.

And the worst?

Ten years ago: “Don’t buy a house yet, the prices are bound to fall soon.”