Pad Residential: New Year, Exciting Ambitions

Pad Residential is excited to welcome a new year and the beginning of a new decade, with the company keen to maintain stellar sales and lettings services for every client, in a bid to enhance an already impressive reputation as leading estate agents within the north west.

Established in 1998, Pad Residential has since been recognised as a leading property sales, lettings and management agency, equipped with a diverse, specialist team, with each department boasting an array of talent.

Ian Waxman, Managing Director, has overseen the development of the estate agents since its formative years and outlined his initial exposure with a company who has developed a prominent reputation within Manchester and beyond.

“At the age of 21, I left Liverpool University after completing a degree in Economics. My Dad was an estate agent, and at the time, he’d become unwell. So, I stepped into the breach, so to speak.

“By natural progression, I was thrown into the deep end, with a degree (and a little bit of sense!), so my initial exposure to working in an estate agents came as a necessity. There were other companies in the north west, so I immediately had to perform.”

Estate Agents & Buyer Behaviours

Pad Residential was formed in 1998 and during the subsequent twenty-two years, the company and other estate agents in the north west have embarked on a rollercoaster ride during which time events such as 2008’s credit crunch had a significant effect on the market.

With market trends continually changing, Pad’s MD gave his two cents on how insights into buyer behaviours have changed in the last two decades.

“In my view, the internet has been revolutionary for the property market. Now, there’s so much information and trends that are readily accessible for interested estate agents, whether they’re in the north west or not.

“I always say that we need to do research independently; that comes back to the human element of the job.”

Estate Agents in North West Experiencing Higher Demand for City Properties

Pad’s head office is based in the heart of Manchester, a city considered by many estate agents as a hotspot for residents and north west businesses, alike. 

The popularity of city living has increased significantly, with Ian Waxman outlining his thoughts as to why estate agents are being inundated with requests from clients who are becoming increasingly accustomed to the appeal of urban life.

“The trend is that twenty years ago, people came to the city centre as pioneers; it wasn’t developed and the facilities were better suited to the needs of revellers or office workers – people coming in for the day and then leaving.

“When people left the city after a day at work, what was left wasn’t very pleasant. However, fast-forward twenty-years, and there is a city that’s much more interesting across the demography in terms of culture and entertainment. The breadth of choice in Manchester has meant that people want to be closer to the city, do not want to have the commute, so there’s much more demand for property.”

Manchester is characterised by an avant-garde, forward-thinking philosophy, with businesses in the core of the city blossoming. Figures published in 2018 indicated that there were 23,845 organisations established – a rise of 58% from 15,060 in 2014

A significant proportion of the aforementioned companies are estate agents, prompting the question: What differentiates Pad Residential from the competition? In the eyes of Ian Waxman, the answer couldn’t be simpler.

“Pad Residential’s USP is that our clients always have access to advice from people who have had the first-hand experience in the industry. For instance, if a first-time buyer came to me for advice, I’ve been a first-time buyer. Similarly, if an investor comes to me, I’ve been an investor.

“People asking me about property management liaise directly with the property manager, so my experience gives experience the benefit of legitimate background. I give advice based on personal development, it’s not just a case of guessing the best way forward.”

An innovative estate agents continually seeking new ways to enhance their practice, Pad Residential have partnered with Scanlans, a well-established property management company in the north west. 

The partnership has provided each company with an opportunity for advancement, with Pad specialising in the residential property lettings and sales, whilst Scanlans offer expert insight into Leasehold Block and development management.

“Pad is effectively the lettings and sales arm for Scanlans; that’s something that was needed to fit the change in demand within the property market. 

“From our point of view, Scanlans has a base of leaseholders and developments across the north west that have individual leaseholders asking for advice. We offer services for each other and the arrangement works very well.”

Property ownership was once deemed more accessible for prospective owners. Now, more people are approaching estate agents in search of advice on how to secure a property ladder, a problem not necessarily confined to the north west.

“The advice varies depending on who needs guidance. For instance, for a first-time buyer, it’s essential to weigh up ingoings’ and outgoings and ask how much is the house going to cost? The last thing you want to do is buy a house and not have excess funds to enjoy yourself socially; buy for your needs, not for your desires – never try and keep up appearances. Instead, have a budget and strike a balance.

“On the other hand, investors rely purely on numbers. Short-term and long-term objectives are important to consider.”

In two decades, Pad Residential has continued to perform admirably, consolidating their reputation as respected estate agents not only in Manchester but also [add] generally add [in] the north west. However, as is the case with any company, development is essential to stay ahead of the game and oust competition.

“We’re a service-based industry. Therefore, if we can provide a service whereby, we can orchestrate the block management from Scanlans to the asset management on an individual basis, we could see the build to rent and buy to rent structure developing for institutional investments.

“While we’ll be looking to develop some areas of the business, we’ll always maintain the view that advice should be offered from people who have been there, seen it and done it – we want our clients to be guided by the right people.”

Call 0161 839 9654 to discuss your requirements with our specialist team and join us for what promises to be another memorable year at Pad Residential.

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