60 second interview: Charlie Wright

Monday 28th September 2009
What does it say on your business card? Charlie Wright, founder and architect of thebu2iness.com

Where are you based? Mainly Battersea in London, but we all work from our homes a lot too (including London, Devon, Frankfurt and Birmingham).

What does your business do? Provides a service which replaces software for residential estate agents.

How many people do you employ? Nine.

How has the recession been for you? Stimulating: the way it has made everyone rethink their businesses is very interesting. Some agents are behaving like rabbits trapped in the headlights, doing nothing and waiting to be run over (or already have been). The proactive, forward-thinking agents have used the recession as an opportunity to restructure their operations for the brave new and different world ahead: some are reaping huge benefits already and having bumper months, wishing they’d made the changes sooner.

What lessons have you learnt from it? Strong leadership in any business going through a difficult patch is one of the only ways a company can survive a downturn. Quick thinking, quick decisions and ruthlessly thorough implementation of those decisions breeds confidence in your team and improves morale. Having a fighting spirit among the troops is one of the most rewarding things any business leader can achieve in tough times.

How do you see your business in five years’ time? The undisputed market leader in providing the best residential property technology.

What do you think about Home Information Packs? I try not to!

What do you think the housing market will do for the rest of this year? It’s going to be a two-tier market. The top end seems to be holding out quite well as the rich/poor divide gets bigger, and quality homes above £500,000 are selling quickly for at or above the asking price in some cases. However, the lower end of the market looks set to continue with uncertainty as stock levels start to increase and lending remains tight. I fear there may be a stalling of prices towards the end of the year, but activity levels for quality agents should remain good enough to do well, regardless of prices. The trick is to tie up those deals fast once they’re agreed – it’s the fall-through rate which poses the biggest risk to the industry, if deals aren’t managed very proactively and quickly.

Who’s your property hero and why? I am going to say Jon Hunt, the founder of Foxtons. There is and has been a lot said about Foxtons (and Jon Hunt himself) which is not good, but that man is responsible for more of the innovations, marketing ideas and changes in the UK and London property market than anyone else. There are now very good former Foxtons staff with high levels of integrity managing and growing other successful businesses. There are very few successful London estate agencies who don’t employ someone who used to work at Foxtons, including Savills and Knight Frank. Anyone you talk to who worked for Jon Hunt says the same – he was ruthless, and cared only about making money, but he was inspirational to work for and has changed the way property is marketed in London.

Favourite night out? The Sunday night rooftop pool party at The Ivy in Sydney is a thing to behold, but in London it would have to be discovering a new bar or restaurant by mistake with friends or your other half. London is just so big you never need to go out to the same place twice.

Last holiday? A week at a villa in Ibiza with 12 friends, followed by a week at a country house hotel in Devon which 20 of us took over and where I met my other half.

Strictly or X Factor? X-Factor – it’s the modern-day equivalent of gladiatorial games: ritual humiliation and shattering of dreams in front of millions of people!