Diary of an agent: Tim Hyatt

The former agent spent more than a decade with Foxtons before joining Knight Frank in 2003 to run the UK Lettings and Property Management Business. A succession of roles followed before he became head of the London residential business in 2019, and then succeeded Andrew Hay in April this year.

Following a surge in demand for property since the market resumed in May, Tim talks about the challenges of navigating lockdown and the months ahead, as the sector waits to see if demand translates into exchanges.

You officially began the role in April in exceptional circumstances, what was that like?

From an administration perspective it has been a huge exercise. I transitioned from looking after the lives of around 300 people to 1,200-plus. I walked into overseeing business parts that I still had things to learn about, as well as running the business day to day from home. But rather than look for negatives, I drew on the professionalism of the team around me and made sure we looked after our people. We have pushed communication to the fore and aimed to be to fair and transparent throughout.

You’ve had to make some big calls, such as furloughing staff and then later safely reopening the offices, how have you approached them?

You have to take every day as it comes. I felt that I was moving into an environment where all eyes were going to be on me. No easy task when your predecessor was so impactful in his style and manner. Ultimately you have to be your own person and make the tough decisions and follow them through. The word I have used most through this period is transparency. It’s so important to be open and to allow people to express their views.

What advice would you give about decision-making?

Don’t overanalyse. Give it a go and regroup if it’s not right. Coming into this financial year we’d set our biggest ever marketing budget, which we’ve effectively had to halve. Yet as challenging as that was, it has led to Partners in Property, a [digitally-led] campaign, which has allowed us to land a message that is open, human and personable.

What will lockdown change?

I’m delighted we are back, albeit in smaller numbers, at Baker Street [Knight Frank’s HQ]. However, working from home has been an eye-opener. The ability to condense meetings into an hour and a half has been a win, and if someone’s attending from Bristol, they don’t lose a day travelling to it either. So, our productivity levels as a business have likely soared during lockdown. Of course, we work in a sales force and there’s no better way to interact than face to face, but, having trialled it previously, we will be looking closely at the benefits of dynamic working across the business.

What will you personally take from this experience?

Well, I’ve learnt how to use Teams, and share a presentation etc. Joking aside, we’ve all become more tech savvy. I’ve also come out of this episode calmer and more productive, with more ambition for the business and the partnership.

What has been the focus since the reopening of the market in England?

To get viewings and valuations going again, as people have an urge to get on with their lives. They want to fight against Covid-19 and the only way they can do that is by getting back to normal life, which includes things such as moving home.

What has inspired you most about the business and the team during the situation?

The people around me that have come together to support me. KF has a unique spirit, a sense of cohesion and a feeling that everybody is looking out for everyone else, that I’ve not encountered before. It feels like a true partnership.

What is your take on the residential market as we leave lockdown?

I’m positive. I’m optimistic, although I accept that we won’t know how long the currently very strong demand will last, probably, until the end of the summer. Could there be bad news to come? Of course. But the residential market is open and alive. In such extraordinary conditions we all must live for the moment.