Over the years we have seen the block management market change and mature substantially, from a job to a fully-fledged career opportunity.
Ten years ago there were a number of specialist managing agents, many of which were residential management departments bolted on to surveying firms whose focus was predominantly commercial property. Interestingly many took flight and sold their operations in residential block management only to complete a full circle starting new department, forging teams and competing for instructions.
Today the sector is very different. Yes large dominant organisations with sizeable teams managing thousands of units remain but as is typical with a maturing market, the sector has seen significant growth in regional managing agents focusing on specific geographical areas each tailoring their services, ideas and USP’s for providing a block management service. Surveying practices have broadened their Property management provision to compete in the sector, Estate Agents see block management as a valuable addition to their sales and lettings business and perhaps more significantly, House Builders are looking to develop their own “in house” service. All are competing to retain the services of the qualified Block Manager to control their instructions.
ARMA and IRPM have done a fantastic job to raise the profile and standards of the industry and with professional qualifications available, there is a true sense of recognition in Block Management for those who want to carve a career in the industry. And the signs are that the demand for well qualified experienced individuals will continue despite the tough economic conditions.
To meet this demand, certain clients have established Graduate Training programmes which we have been heavily involved in – providing advice and supervising recruitment programmes – this is further endorsement of employer commitment and the challenge to develop their teams and retain the best. As the competition for instructions grows, business development is now a burgeoning career opportunity for the experienced Manager apart from managing a team. The scope to specialise is rapidly expanding.
The size of employer provides differing opportunities; if you are into smaller environments, then a 360 degree responsibility is likely to be your remit. Larger managing agents can provide a structured career path, specialist opportunities such as managing single site developments or a work from home facility to be close to your region.
So, for the focused qualified Block Manager there is career path providing plenty of variation and opportunity and hopefully satisfaction coupled to the necessary financial reward?
Stuart Smith is a Director at Thomas Jeffrey
