Trust and knowledge top agents and developers’ wish list
Trust and industry expertise are the key criteria for a good working relationship between agents, developers and retailers, according to a recent gathering of property professionals.
At a meeting of over 40 industry representatives hosted by The Co-operative Food, property agents and developers overwhelmingly said that working with trusted partners and long-serving individuals who are knowledgeable about their geographic regions, topped their list of how they preferred to do business.
The meeting, held at The Co-operative Group’s award-winning Support Centre in Manchester, also revealed that whilst competitive fees are obviously very important, speed of response and clarity of the brief were also integral to success.
Stuart Hookins, Director of Portfolio and Development at The Co-operative Food, said:
“This was a real insight into best working practice. The intention of The Co-operative Food is to acquire 100 new stores in 2014, and 150 per year in subsequent years. Key relationships with agents and developers will prove vital to our success. That is why we are so keen to understand how we can maximise our working relationships with our key partners, as well as expanding that network of contacts.
“We operate in an extremely competitive market, and pace and attention to detail is what agents tell us are vital when trying to close a deal.
“In addition, agents and developers really value their relationships with our acquisitions managers, particularly because our team know their geographic areas inside out and are able to respond quickly and efficiently to potential new sites.
“We don’t have retained agents. We offer competitive fees to recognise agents introducing and assisting with the delivery of new sites.”