In this episode, Jeannette speaks to Peter Greenwood the founder and owner of Greenwood Residential estate agents. Peter shares some of the experiences he had during his 37-year Royal Navy career and how he pivoted to set up his own successful estate agency business. Peter's shift from the military into the entrepreneurial world of estate agency demonstrates how to pivot, apply transferable skills and become a successful business owner. 

Peter provides the inside track on the estate agency side of the property sector. He provides great insight into;

• His early life and starting a career in the Royal Navy (+0-12mins)
• setting up a business from scratch (+12-20mins) training/starting up,  mention of Susie Crolla at the Guild of Letting and Management, Emma Greenwood, Liz Poole, Jay.
• current trends in the market (+19mins) need for access to funds/cash to progress in current market
• the impact Covid-19 has had on the property market (+28mins)
• the perspective from both the estate agency and investor side (+33-38mins)
• as well as his thoughts on projections for 2021.  (+38-43mins) (please note this podcast was recorded on the 3rd October 2020, before the second or now the third lockdown where even being thought about never mind being made law.)
• However, Peter still firmly believes that the rental market will continue to strengthen throughout 2021 and the Sales market will have a strong recovery once we see the end of these lockdowns, which will only coincide with the vaccination programme that is currently in progress.
• From March 2021 onwards the Sales Market will pick up right from where it stopped in October 2020, so if you need to move, and are asking yourself when is the right time, well ask no more, because it's right now! So start getting your property, market ready, give it kerb appeal and declutter as best you can, make it better than when you first moved there and remember what attracted you to it in the first place. 
• Then confirm how much of a deposit you will be able to put down and how much mortgage will you need for your move, so that before you even start looking, check your budget.  Then the fun starts, identify what it is that you want to find in the next property, list the ‘nice to have, would really like to have, or must haves’ for the house and also for the area that you want to move to. Remember some key COVID lessons - try to find a new property with a quiet room or an extra room you can use as a home office, outdoor space either a private or communal garden or a nearby park, how good is the broad band speed.  Do you need to be in the catchment area for a certain school? How long is your commute to work? How good is the public transport? Take advantage of the time you now have in this lockdown to do this work in advance, if you are able to, whilst still following the full COVID-19 lockdown and guidelines, stay at home, stay safe and protect the NHS.

KEY TAKEAWAYS

• Being able to pivot and apply transferable skills to a new business venture is possible for anyone wanting to make a change.
• Getting your branding and image right is a vital part of building a successful business.
• Continuous professional development is important.
• Fixing issues when things do not go well is a vital part of looking after your customers properly.
• Even in areas where prices are high, it is still possible to find properties to do up and split into rooms and make a profit.
• In most cases, it is the smaller, low-cost properties that generate the best yield.
• Often there is good money to be made with corner plot houses, provided you can extend.
• Changes in how property investors are taxed, Brexit, and the general election all slowed sales.
• People now want extra space for work and recreation and a good broadband connection.
• There is still a lot of pent-up demand, people desperately want better homes.
• Surveyors are under-valuing properties right now. Lenders want to be sure they will get their money back.
• The lending criteria are now far stricter.
• Unemployment is going to damp down the market, but not completely.
• The rental market should remain strong.
• There are property opportunities everywhere but different strategies work in different areas.

BEST MOMENTS

‘It's important to do continuous professional development’ (+15min mention of Susie Crolla at the Guild of Letting and Management.)

‘I'm seeing undervalues of 5-10%, on a properties´ (+39min)

‘The lending criteria is incredibly strict right now’ (+39min)

VALUABLE RESOURCES

Brave, Bold, Brilliant podcast series

www.jeannettelinfootassociates.com

Greenwood Residential website

ABOUT THE GUEST

Peter Greenwood enjoyed a 37-year career in the Royal Navy. He rose through the ranks to become a Commander, working onboard ships, then at the Ministry of Defence and the British Embassy in Washington.  When he left the Royal Navy, he set up a successful independent estate agency, in Kingston, Greenwoods Residential. His agency was the winner of the Best Letting Agent Kingston upon Thames in British Property Awards 2019/20.

CONTACT METHOD

linkedin.com/in/peter-greenwood-27987945

Greenwood Residential website

ABOUT THE HOST

Jeannette Linfoot is a highly regarded senior executive, property investor, board advisor, and business mentor with over 25 years of global professional business experience across the travel, leisure, hospitality, and property sectors. Having bought, ran, and sold businesses all over the world, Jeannette now has a portfolio of her own businesses and also advises and mentors other business leaders to drive forward their strategies as well as their own personal development.

Jeannette is a down to earth leader, a passionate champion for diversity & inclusion, and a huge advocate of nurturing talent so every person can unleash their full potential and live their dreams. 

CONTACT METHOD

www.jeannettelinfootassociates.com

YOUTUBE

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PODCAST DESCRIPTION

Jeannette Linfoot talks to incredible people about their experiences of being Brave, Bold & Brilliant, which have allowed them to unleash their full potential in business, their careers, and life in general. From the boardroom tables of ‘big’ international business to the dining room tables of entrepreneurial start-ups, how to overcome challenges, embrace opportunities and take risks, whilst staying ‘true’ to yourself is the order of the day.