Building Your ‘Power Team’: How to Choose the Right People for Your Property Projects
Having run a finance brokerage and invested in property, I’ve experienced both sides of the fence. I’ve been part of someone else’s power team and built many of my own.
Here’s the reality: building your power team, like any successful team, requires time and nurturing. You can’t expect the first service provider you speak to to be the best or most suited to your needs. Imagine hiring the first candidate who walks through the door simply because it’s convenient. You’re setting yourself up for failure.
So, how do you identify the right people for your power team? Let’s look at the key indicators to help you determine whether they’ll be a great addition or a potential risk to your property project.
Who Do You Need in Your ‘Power Team’?
If you’re converting, developing, or buying a property, your power team may include the following:
Finance broker
Finance lender
Solicitor
Estate agent
Insurance broker
Tradespeople (builder, joiner, electrician, etc.)
Architect
Town planner
Surveyor
Quantity surveyor
Project manager
Utility consultant
You get the gist; the list is long. This is one of the major variable factors of property. You are often dependent on other people pulling their weight, and it only takes a small kink in the armour for things to stop working correctly. This is why spending time building your power team is a major factor in your level of success.
The Wrong Team Member: A Domino Effect
Let’s use a hypothetical example of what can happen when you pick the wrong person to join your team.
You’re in the middle of a major renovation project. The project manager you’ve hired appears competent in the initial meetings but starts to miss deadlines, ignore key details, and fail to communicate effectively with the tradespeople.
At first, it seems like minor inconveniences, but delays begin to pile up, coordination falls apart, and costs spiral. Before you know it, the entire project is off schedule and over budget—all because the project manager wasn’t up to the job.
This is not an uncommon scenario. The truth is, a weak link in your team can cause a domino effect, disrupting every aspect of your project. The wrong solicitor can drag out legal processes, the wrong broker might not secure the best finance deal, and a careless surveyor could miss a crucial structural flaw, leading to unexpected repair costs down the road.
How Do You Avoid the Pitfalls?
The harsh reality of property development and investment is that every professional you bring into your power team holds a piece of your success in their hands. If one person underperforms, it can affect the entire project.
So, how do you avoid these pitfalls? It all comes down to due diligence and networking in the right circles.
When choosing someone to join your power team, it’s essential to do your research. This means more than just a quick Google search or a glance at their LinkedIn profile. You need to look into their track record. Ask for references, speak to previous clients, and, if possible, visit properties they’ve worked on. It’s also helpful to meet potential team members in person—there’s no substitute for a face-to-face meeting when it comes to judging someone’s professionalism and enthusiasm.
Additionally, consider how each team member will work together. Property development is rarely a solo venture. If your architect and project manager don’t communicate well, for instance, designs may not be executed correctly, leading to costly reworks. Compatibility and clear communication between team members are just as important as individual skills.
What You Should Look for in Each ‘Power Team’ Member
Now, let’s take a closer look at some of the key players you’ll need on your property power team and what to look for when selecting them.
Finance Broker: A good finance broker is a pivotal part of your power team. Their role is to navigate the complex world of mortgages, bridging, and development products to find the best deal for your project. A great finance broker will have strong relationships with lenders, understand the nuances of property finance, and be proactive in finding solutions tailored to your needs.
Solicitor: A property solicitor handles all legal aspects of your property transaction, from conveyancing to contract negotiations. The right solicitor will ensure your transaction is smooth and legally sound. The wrong one could cause delays or overlook important legalities that could lead to bigger issues down the line.
Tradespeople: The backbone of any property project. Without skilled tradespeople, even the best designs and plans will fail. Look for tradespeople with a proven track record, strong recommendations, and an ability to work well within a team. If you pay cheap, you usually pay twice. I learned this the hard way—believe me.
Project Manager: Where you can, employ an experienced project manager. This person will oversee the day-to-day running of your project, coordinating between contractors, ensuring the schedule is adhered to, and managing budgets.
A competent project manager is crucial to keeping the project on track. If you’ve never managed a development or project before, please do not underestimate how difficult the task is. 91.5% of projects go over budget or schedule (reference: How Big Things Get Done). To limit the rate of failure when running your own projects, it’s worth employing a professional. It will save you money in the long run—trust me.
Building and Maintaining Relationships
Another important aspect of assembling your power team is building long-term relationships with your team members. Once you’ve found the right people, it’s often worth sticking with them for future projects. Over time, as you continue to work together, these individuals will become more familiar with your working style, your expectations, and your goals. This familiarity can make future projects smoother and more efficient.
That said, don’t be afraid to re-evaluate relationships. If a team member starts to underperform, it might be time to look for a replacement. However, having an established team that you trust can help you avoid the constant hassle of sourcing new people.
Building a successful property power team is not an overnight task. It takes time, patience, and a lot of research. However, once you’ve assembled a team of skilled, trustworthy professionals, your property ventures will run far more smoothly. Your power team will be the foundation on which your success is built—choose wisely. The property market is constantly evolving, and your power team should evolve with it. Whether it’s keeping up with changes in property law, new financing products, or the latest construction techniques, continuous learning is key.
Grow Your Network at The Property Developer Show
If you are looking for a good place to start developing your power team, you can, of course, visit the Property Developer Shows. I put the show together for the sole purpose of supporting SME developers across the UK. We have created a platform for the best service providers to meet the best developers. You can book your free ticket at .
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