Business in Shoreditch: Interview with Base Property Specialists Co-Founder Kristjan Byfield

G: Tell us about your business?

An and I started Base Property Specialists back in 2004. We had both worked for a variety of companies in Estate Agency but were dis-heartened by the lack of genuine service on offer. We also found it frustrating that, with so many elements to property, clients were often dealing with multiple contacts at numerous companies. We therefore set out to create a company that delivered on two key factors: Delivering the highest standards of Customer Service in our Industry and to offer our clients one contact for all their property needs– us. We are now a company recognised at multiple industry awards for both our Customer Service and our Lettings Service, we are one of the most positively reviewed estate & letting agents in the Country and we now offer a huge range of services. Whilst this often means we have to work several times harder than many of our fellow estate agents, the job satisfaction and fantastic client feedback make it all worthwhile!

We are really now pushing to develop how Landlords, Tenants, Buyers and more access information about property and the processes involved. One of the reasons so many bad agents exist is that most people simply don’t know their rights or route to compensation. We are fast developing a strong network through our Facebook and twitter pages and this will also form a key section of our new website which we are hoping to launch towards the end of this year. We want people to know that we are happy to help and give advice on all property matters- it’s not all just about making money. In fact, we are planning on going around local businesses over the coming weeks and months to make sure they know who we are, where we are and how they can send us questions and ask for help.

G: What are the main challenges maintaining your business and how are you overcoming them?

The Estate and Letting Industry is one of the most fiercely competitive and over-saturated industries in the Country. Therefore establishing and growing your market-share is incredibly difficult. We are not a multi-office, multi-national company with a bank or hedge fund behind us so double page spreads in papers and magazine and huge internet advertising budgets are not an option. We are therefore looking for our reputation to do the majority of the leg work for us and, to date, this has. Approximately 75% of our growth over the last 5 years can be attributed to Referrals and Recommendations. What is great is that, when we get a client, we keep them. There really is not a single company out there that offers the service we do and for many people, particularly in a city like London, this is essential.

G: What would you say has been your most memorable experience while developing your business?

This year has been a phenomenal year with several key points to remember. We have been recognised at 3 separate Industry Awards this year and to have that ‘rubber stamp’ behind our service is a great feeling. We are now hoping that this will help us ‘spread the word’. It all kicked off at the start of the year when we were recognised as one of London’s Top 10 Letting Agents at the ESTAs (estate & Letting Agent Awards)- an award that meant all the more as the results were based exclusively on reports submitted by our paying clients! More recently, with 4 nominations in the space of about 4 weeks, we had two staff nominated at the Property Awards for Women (my business partner An Deckers is a Finalist for the Commitment to Excellence Award and our long-service Lettings Negotiator Monika Szymczak, who is also a local resident, is up for Best Lettings Negotiator). Finally we have been named Finalists at the Landlord & Letting Awards as a Best London Letting Agent and, amazingly, in a category covering all businesses across the entire property & property services sector across the entire Country, Best Customer Service. We obviously hope to pick up a prize or two, but the mere fact that a small company like us is being recognised as one of the best service providers in our industry, we already feel like winners!

G: What were the funniest moments that happened while running your business?

I bring my boxer dog, Daisy, to work with me every day so that has caused some pretty funny moments- from dribbling on paperwork to barking at unwelcome visitors. She has long since laid claim to our guest sofa in the office. It is actually great, though, how much most people love her being here though. For the staff it is a welcome break now and then for a bit of a cuddle and Daisy is always quick to sit by their desk should they decide to grab a bite to eat. Visitors to our office, clients and others alike, often find fussing her nigh on impossible to resist.

G: Tell us about DO’s and DON’Ts when running the company?

Don’t expect to be an overnight success. Unless you create something truly unique, it takes time to establish a reputation and for people to trust you and take you seriously.

Make sure you reward your staff and yourself for the successes you achieve. Acknowledge the failures, but don’t dwell on them- learn your lesson and move on.

Make sure you stay in contact with your clients. No matter how much they love your service it is amazing how many of them forget you if you don’t keep reminding them. You have to find the right balance but make sure it is a combination of written communication (emails, newsletters, etc.) but do make sure you pick up the phone and TALK to them once in a while.

G: Why do you choose Shoreditch to run your business?

In total honesty, initially we chose Shoreditch as it was a perfect base between a lot of our start-up clients that had property across East London and the Docklands and our North London homes in Southgate & Enfield. However, we have come to truly love Shoreditch and all it stands for and offers. I genuinely think it is one of the most exciting, diverse and eclectic areas in the whole of London that offers some of the best Art, Fashion, Food, Coffee and (of course) Estate Agents in the whole City. We launched here by chance, but would never leave here now- this is our business ‘home’ and always will be.

G: What/who should help for the development of Shoreditch entrepreneurial community? What this community is still missing?

It would be great for Shoreditch businesses to be able to communicate with one another in a much simpler and direct manner. I think there are a lot of lost opportunities that go begging, and a lot of help at hand, that doesn’t materialize because businesses don’t realize just what an array of services they have on offer. A classic example is I noticed today Hudson shoes are having their offices (2 doors away) redecorated- we could have done that for them, and probably at a much better price!

G: Who/what are your favorite CEOs/Businesses in Shoreditch?

I love Start and have a huge amount of respect for Philip and what he has achieved. I love it when you meet people who are incredibly successful but carry no heirs and graces about them. Philip is such a polite and lovely chap but clearly hugely successful.

Josh Coleman of Bike Dock Solutions (who is actually a Tenant of ours) has recorded some amazing success in just a few years and was recently covered in the Times. A brilliant example of learning to be flexible with a business- if the first concept doesn’t work, it doesn’t mean an altered one won’t. Fantastic guy.

Barbara Brunner of Brunner Training is a fantastic example of a person who is passionate about their topic of expertise and working with focused and motivated individuals to achieve their personal physical ambitions. Whilst I have been lazy of late, with work being very demanding, Barbara took me from hating all things ‘endurance’ to entering triathlons just 4 months later! She demands commitment and dedication, but you won’t find many that deliver these so expertly themselves.

Finally, I have a lot of time and respect for Michael, Sandy and Brain at Dominion. A commercial property company with similar values at the heart of their business- a professional, informative service delivering excellent results for their clients day in day out.

G: What does the future has in store for Shoreditch?

Wow- there is so much planned! Details were recently released of Google’s new offices on Bunhill Row which will have allocated space for new start-up companies. It is great to see that such a huge company is maintaining this link with great new ideas. There is the pending Art Hotel at the top of Rivington Street- as and when this eventually takes shape. What is key, however, is that Shoreditch MUST ensure it maintains that balance of fresh, independent companies and the larger corporates that launch unique ’experience shops’ in the local vicinity. As long as this is retained, and the artistic community are kept strongly involved, the area can only continue to go from strength to strength.

Base Property Specialists

Twitter: @baseproperty
Facebook: www.facebook.com/baseps
Blog: www.propertymanagementfaq.com
Website: www.baseps.co.uk