Perfect Storm in Surveying Market Creates Golden Opportunity for Qualified Surveyors

21/Aug/2014
Blog Author: 
Alan Milstein

There are times when a market for a particular service or commodity hits a “sweet spot” where demand rises, supply falls slightly short of that demand, and price becomes a secondary issue. And for those who can offer a level of supply into that market, the doors of opportunity for growth begin to open and widen, and the rewards start to grow.

And it’s just that situation that now faces the residential surveying sector in the short to medium term. Over the past few years we’ve seen the number of active surveyors in the market decline, due to a lack of new entrants coming into the industry at the bottom end, and a large number of older practitioners retiring, or being forced to wind up their businesses at the top end.

Yes, there are new qualifications that will allow people to come into the market, but for anyone starting from scratch it’s going to be a year or two before they’re qualified and out pitching for business.

Alongside this, we’re seeing that valuation panels are now preferring not to promote their own survey services, such as Home Buyers or Building surveys, as their employees are fully committed trying to keep up with the demand for valuations. Some are even looking to the existing SAVA Surveyor network to meet the demand for Surveys.

At the same time as all this is going on, the housing market has shown signs of recovery in many areas, with increasing numbers of transactions month on month.

So, if ever there was a time to start marketing your surveying services to local agents, conveyancers, and financial advisers, then that time has to be now. All the elements of the “perfect storm” are coming together and creating a golden opportunity. Even if the statistical uptake for condition surveys doesn’t exceed the normal 20% level, more of those people who do choose to have a survey are going to be looking in the market for professional, honest, and reliable supplier. And who better to provide that service than you!

So now is the time to make that call, send that email, attend that networking breakfast meeting, and knock on the doors of your local property professionals.

Alan Milstein is the Chairman of the Residential Property Surveyors Association (RPSA), a representative body for independent residential surveyors.

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