It’s Time to Rebuild Trust in the Property Sector
In this time it’s more important than ever to communicate effectively with your clients. The COVID-19 global pandemic has meant property developers need to assess how they communicate and build trust with clients, while observing social distancing rules.
In this time it’s more important than ever to communicate effectively with your clients. The COVID-19 global pandemic has meant property developers need to assess how they communicate and build trust with clients, while observing social distancing rules.
Unfortunately, it appears that the general public’s trust in the property sector is at an all-time low. In this article we explore why this seems to be the case, and the opportunity this presents for a new and creative approach to property branding and marketing.
A recent study by London-based property experts Grosvenor Britain & Ireland found that only 2 per cent of Brits trust property developers. This is a staggering statistic, and it means that there has been a complete breakdown in trust between developers and the people whose interests they are supposed to serve.
This trust deficit must be severely worrying for all property developers. It serves to show just how much faith has been lost by the sector and the scale of the task at hand to redress the balance.
This article will delve into what exactly are the barriers preventing the public trusting developers, and what developers can do to build a brand that is trusted and that serves its customer base.
What the poll reveals
The poll was made up from a focus group and 2,000 members of the public responding to a YouGov survey.
The poll into the level of trust between developers and the public reveals an industry that is in dire need of reformation, but what are the issues that have so eroded trust levels to this unheard of degree?
The poll further found that fewer than the one in 10 people surveyed believe that local authorities are working for their good when planning a large-scale development.
This sentiment is understandable given the nature of the Grenfell disaster and the 2018 Worcester Park fire, which was caused by the building’s “missing or useless fire stops”. It seems developers and local authorities regularly cut corners overlooking safety regulations in order to maximise their profit.
Three quarters of poll respondents identified with the statement that developers “only care about making money”, when queried over where their lack of trust for developers stems from. The second most popular reason cited was that developers don’t consider the needs of the local community when planning a new build. Recent disputes over the planning of the new MSG Sphere have shone a light on this issue. The Guardian reports that the proposed new construction, if it comes to fruition, would be the largest UK concert arena and hold more than 20,000 people.
However, the building is planned to be 90 metres high. This is just fractionally shorter than the central tower of the Tate Modern building, and residents of Stratford have voiced concerns that the sphere will block sunlight. This pushed them to launch a petition against the construction, as plans stand.
Falling behind housebuilding targets
With the shortfall in the housing sector currently, it seems every month the Government falls further behind its target of 300,000 homes each year. Grosvenor said of the poll’s findings:
“With opposition to development and regeneration increasing, the number of new homes being built in the UK continues to fall behind need.”
“These findings are a significant wake up call to all involved in large-scale development – the public doesn’t trust developers or local authorities to act in their best interests. Together with others we must accept our responsibility, act to rebuild trust and back local government leaders shaping developments for the communities they serve.” Craig McWilliam, CEO of Grosvenor Britain & Ireland.
What can developers do to restore their brand image and rebuild trust?
Property developers need to invest more time and energy in understanding their local impact. With a better knowledge of local attitudes they can create bolstered tone of voice guidelines and more sympathetic communications whether online, on social media channels or through local marketing to support their ambitions.
Too often developers fail to connect with the value of marketing to engage with the communities affected by their projects.
With housebuilding targets consistently being failed to be met, partly because of public resistance to development plans, it’s the job of developers to win back much needed trust in the sector, allowing them to do their jobs and create more high quality places for Brits to live.
Sue Brown, Executive Director for planning and development with London First responded to the survey, “London needs to increase its level of housebuilding”. She continued by stating that developers need to “win hearts and minds” and “engage with communities so that plans work in a way that suits everyone”.
To win hearts and minds developers can start by engaging end users in discussions about the use of buildings. By involving local communities in the planning stages of new developments, the sooner the better, the more quickly you as a developer will get to the root of any objections locals may have to the construction of the site.
It also gives you an opportunity to sell you vision of why your building is needed, and what benefits it will bring to the community.
The courtesy of keeping people informed as to the project’s progress and raising awareness of any disruption it may cause builds a sense of care and consideration. People value caring contractors, this builds trust and reduces community suspicion of developers.
After recent PR disasters around building safety, to start the process of regaining the public’s trust, developers must follow best safety practices to the letter, to prove that they care about the safety of the end user. This won’t happen overnight, but it’s crucial, the sector really can’t afford any more headline-grabbing disasters– the cost of human life and damage to people’s homes is simply too great.
Investing in sustainable building practices is another positive step that developers can take. By using sustainable materials and construction practices, you can sell the public on your commitment to corporate social responsibility. By emphasising your green credentials, you can gain a competitive advantage over your rivals.
In short developers can be much more proactive to ensure they build better engagement with communities. In doing so, they minimise delays and changes to projects. Better community and relationship management lead to an improved bottom line.
How do survey respondents believe trust can be rebuilt?
Survey respondents say trust can be rebuilt by holding private developers and councils to account. If you can give local communities and end users the ability to hold you to account if you don’t keep your promises, you’ll start to regain their trust again, as they won’t feel so powerless to influence the places where they live, socialise and work.
The YouGov poll also revealed that people want a greater opportunity to influence the outcomes of development. This could be achieved by canvassing the opinion of local residents, perhaps in a focus group setting.
The public also demand more transparency from developers, so the more information you give away the less likely people will be suspicious of your motives.
Grosvenor has already started to work in new ways
Grosvenor have pledged to “make it easier for the public to weight the value and costs created by a development”. This will include the social and environmental benefits. It also promises to open up its consultation process more, and to allow communities to have more influence over developments.
Group CEO Craig McWilliam says, “The system will work better for us all when more people are engaged in and understand the process and factors involved in the planning process.”
Start reducing the trust deficit now
Rebuilding trust can create a competitive advantage and differentiate you from your competition, as few, if any developers are addressing their reputation and relationship with local communities.
Trust in the current climate is needed more than ever! Post COVID-19, it’s crucial to be open and transparent about business processes. With improved communication you can restore trust in your company’s ability to still deliver a project despite recent setbacks or delays.
Start by ticking off the items from this checklist:
- Engage with local communities in a consultative manner
- Follow safety best practices
- Build sustainable developments
- Hold your development accountable to its users