Boom or Crash – What’s Your Money On?

This is my first ever blog  –  I feel like the first time caller on the radio talk ins.  I am not sure how others use this medium. I wanted to reach out to explain why I am returning to the property transaction industry. I want to do this  in a way that is less about me (or Search Acumen — my new business) and more about my thoughts on the state of the market and where it is heading.  So I am planning to write a series of blogs on this theme and then take it from there.
This Thursday evening I will be hosting the Real Estate Symposium dinner at the London Marriott Hotel County Hall.   This event gathers the key players (conveyancers, estate agents etc) in home buying and selling in a convivial setting to discuss future directions in the industry.  The dinner was sold out weeks ago and I am really looking forward to meeting up with old friends.  The questions for discussion on this occasion will be: “Are we heading for a sustained recovery from the property crash or a short/medium term bounce before the downward trend resumes?”.  There is a lot of optimism out there and all attendees have a business interest in it being the former.  However, relief and/or euphoria do not provide a sound basis for business planning and we should all examine the possibility of the latter carefully.  For my part, I am returning to the industry four years after selling SearchFlow because I can see that property transactions are on the increase.  It is always better to launch a new business when the tide is coming in.  What I am less sure about is whether transaction volumes will return to pre-crash (pre-2007) levels. We have two speakers who will present opposing views and I am certain that the ensuing discussion will be lively.   As for who will be proved right — my investment in Search Acumen effectively puts my money where my mouth is….
However, the launch of Search Acumen is not just about a rising tide.  And the industry cycle is about more than boom and crash.   There is a consolidation and innovation cycle.  More on this cycle, where we are on it, and how it will drive the re-engineering of process in my next blog.

Mark Riddick, Chair at Search Acumen

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