Jack Potter | Real Estate Work Experience Review

Jack Potter

My work experience at UK Sotheby’s International Realty has both been extremely enjoyable and hugely educational. My first experience in a working environment has taught me that collaborative interaction is vital when running a successful international business and how positivity in the working environment reflects company performance. The international network of Sotheby’s has also given me insight into how multinational companies run and the strength of global brand exposure.

Formulating a 3-page market report, allowed me to properly investigate the changes occurring within the real estate market and how social factors such as the pandemic not only effect the number of quarterly enquiries but alters client behaviour. Using my attained knowledge on the market I was then able to conduct property valuations, taking into consideration market strength, surrounding property price and location to provide them with a suitable value of how much their property is worth. After conducting the valuations, I then formulated a clear, structured document for clients portraying the pricings and a step by step guide of future proceedings. I was also involved in the formation of content creation and management for Facebook and LinkedIn using a platform called Hootsuite, using social media outlets to target potential buyers. Developing my marketing skills further, I received training on a design platform built for the brand that allows agents to create digital, print and social media campaigns all in one place. Using this program, I created several brochures for newly listed properties and individual agents as well as office window cards offering key information on the properties.

Shadowing viewings with both sales and lettings brokers enabled me to firstly understand the techniques used when interacting with clients but also served as a great way for me to discover new areas of London. I would like to say a massive THANK YOU to Guy and all the team for all your help. It has been an amazing experience and has been a great start to my year out. All the best.

Jason Morel | French Student Intern Review

Jason Morel, Grenoble University Student

I reached the end of my three months internship at UK Sotheby’s International Realty. Through this short article, I’ll try to summarize the memorable experience I just lived.

I was in charge of content creation and management on Facebook and LinkedIn. I used Hootsuite to schedule around 300 posts. As a result of my work, I increased by 14% the number of fans and by 58% the number of engagements on Facebook. Regarding LinkedIn, I boosted by 17% the number of followers and by 135% the number of engagements.

Moreover I worked collaboratively with the accountants’ team creating the annual fees report on Excel. It was a great opportunity for me to learn new skills. For example, I learned how to use pivot tables when formulating the yearly figures, providing relevant information to the head of the company. My previous training in Excel also enabled me to help my colleague who was having issues with computing payment delay. By creating a conditional formula using “Datedif” I was able to create a simple and efficient way to tackle this problem.

Due to my marketing skills developing rapidly throughout the internship, I was trusted with the project of creating a document that would be given to clients when valuating properties. Clients could then receive a clear, formulated document instructing them on pricings and future steps that will be conducted. It was extremely thrilling to produce something the company will use in the future.

I was also put in charge of creating the monthly internal newsletter for October and November as well as an article on the evolution of exchange rates.

Using my native language, I helped the company by translating property descriptions from English to French, targeting potential French clients.

Shadowing viewings with both sales and lettings, brokers enabled me to firstly understand the techniques which are conducted when interacting with clients but also served as a great way for me to discover new areas of London.

I say a massive thank you to Amanda and all the team for welcoming me even during this hard time with those unusual conditions. It was great to start my gap year with UK Sotheby’s International Realty. By the way, I am currently looking for my next internship, I focus my research on investment banking, wealth and asset management, or financial services. Any help would be very welcome, you can reach me via LinkedIn or via email.

New Electrical Safety Regulations Are On The Way! (England 2020)

This regulation will affect new private residential tenancies from 1st July 2020 and all other tenancies already in existence from 1st April 2021. Currently, this level of regulation only applies to licensed House of Multiple Occupancies (HMO).

Properties let on statutory periodic tenancies where the fixed term expires between July 2020 and April 2021 will require an inspection and test at this point under the regulations. For statutory periodic tenancies – where on expiry of the fixed term the tenancy rolls over into a periodic tenancy automatically by statute (rather than by contract) – the periodic tenancy would be a new tenancy.

There are some tenancies that will be excluded from the new regulation; social or resident landlord, long leases or tenancies granting a right of occupation of seven years of more, student lettings in halls, tenancies granted to occupiers of hostels, refuge care homes, hospitals or hospice. All electrical wiring and fixed electrical installations will need to be signed off and reported by a qualified electrician.

This report will be required to be shown at the beginning of every new tenancy and renewed at least every five years or earlier if any electrics or fixed electrical installations are altered or changed by the landlord. If the report highlights any issues, the landlord will be required to remedy these within 28 days or sooner dependent on the recommendations contained within the report.

If landlords don’t comply with the recommendations made in the report and this is reported to the Local authority they have the power to issue a fine of up to £30,000. They will also be granted the power to carry out any required works and seek to impose the costs of such actions onto the Landlord. It is more likely that they will serve a further notice of 28 days in order for Landlords to carry out the specified works before imposing any further actions and potential fines.

An Electrical Installation condition report (EICR) is a report carried out to assess the safety of the existing electrical installation within a property and is used to describe its condition. Parts of the system that are reported on include consumer units, protective bonding, lighting, switches and sockets etc.

The EICR will be graded Satisfactory or Unsatisfactory and will detail a list of observations affecting the safety or improvements required.

Questions about Property Management


These observations will be supported by codes

Unsatisfactory codes are:

C1 – DANGER PRESENT, RISK OF INJURY, IMMEDIATE REMEDIAL ACTION

C2 – POTENTIALLY DANGEROUS, URGENT REMEDIAL ACTION REQUIRED

F1 -FURTHER INVESTIGATION REQUIRED

 

Satisfactory code is:

C3 – IMPROVEMENT RECOMMENDED

 

These regulations do not place any defined requirements on fixed portable electrical appliances provided by the landlord, however due to the awful tragedy of Grenfell it is recommended to all my landlords.

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Covid-19 Pandemic vs. New EICR Regulations

If landlords can show they have taken all reasonable steps to comply with their duties under the regulation

you will not be in breach of the duty. You could show reasonable steps by keeping copies of all communications with your tenants and with electricians as you’ve tried to arrange the work.

Further information:

The Electrical Safety Standards in the Private Rented Sector ( England ) Regulations 2020: http://www.legislation.gov.uk/ukdsi/2020/9780111191934

Explanatory Memorandum to The Electrical Safety Standards in the Private Rented Sector ( England ) Regulations 2020 :

http://www.legislation.gov.uk/ukdsi/2020/9780111191934/memorandum/contents


If your property is managed by Sotheby’s International Realty please contact Andy with your instructions to carry out on your behalf.

andy.berthier@sothebysrealty.co.uk

m: 07525 595 504