Is Property Sourcing Really Worth It?

Aug 05, 2024

With over 12 years of experience in property sourcing, I can confidently say that yes, it can be a viable and rewarding business.

However, the reality is, property sourcing isn't for everyone. It takes real commitment, a thirst for knowledge, and the resilience to weather challenging times.

I vividly recall the early days of my sourcing journey. Balancing a full-time job and parental responsibilities, I found myself burning the midnight oil, researching properties while the rest of the world slept. It wasn't easy, but my passion for the property sector fueled my determination.

The truth is, success in this field isn't about luck or taking shortcuts; it's about building a solid foundation of knowledge, compliance, and professional relationships.

The property sourcing landscape is evolving, with increased scrutiny from regulatory bodies and a growing need for professionalism.

This presents both challenges and opportunities for those willing to invest in their education and operate with integrity.

If you're considering venturing into property sourcing, or if you're looking to elevate your existing business, I urge you to seek guidance and support from the right sources.

Unfortunately mis-information is rife in our sector - even from 'big' training providers - so please interrogate coaches on their knowledge before you hand over your cash. Even if you choose to chat to our team at PSC and NAPSA - after all, it's your business and money - make sure you research and invest wisely.

We Are Having to Adapt How We Connect With Sourcing Agents

For years, our Facebook group has been a space to share insights, answer questions, and build a community of aspiring property sourcers looking to grow profitable and rewarding businesses.

Despite there being 8,500+ members in the group, we just can't get our messages to reach many more than 20 if we're lucky - this means that vital compliance and business information is being missed.

As a result, through both our training side (PSC) and the National Association (NAPSA), we receive the fall-out from agents who have either received a fine or a complaint from an investor and just don't know what to do.

Not to mention desperate calls from investors wronged by unscrupulous sourcing agents taking a fee and running to the hills - sometimes up to the value of £100k!!

Training companies are not footing the bill for these gaps in knowledge and poor guidance that they are teaching sourcers.

Often agents and investors only come to us after being referred by someone else, and often it is too late for us to help.

A Brand New Knowledge-Based Community With Trusted Resources & Guidance

This is why we have decided to build our own Professional Sourcing Community, through our highly regarded and industry supported National Association - NAPSA.

A space for members to access all of the content they need to get and stay compliant, connect with other professional sourcers, join live webinars and of course our weekly sessions.

We wrote the Code of Practice for sourcing agents, accepted and followed by both Property Redress Schemes. We also have direct communication with HMRC's AML Team, meaning we are in the best position to give you the latest guidance and support, as regarded by those actually governing our sector.

All posts and messages we send out in our Community, including vital industry and compliance updates, will be accessible to all Members and not dictated by an algorithm.

It's a game changer and one that can benefit anyone considering getting into sourcing, starting their company, or looking to grow.

Our new community platform is designed to provide you with the tools, knowledge, and network you need to thrive in this dynamic industry.

By joining NAPSA and our new community, you'll gain access to:

1:1 support from our expert compliance team
Regular market updates and insights
Networking opportunities with seasoned professionals
Access to discounted training and insurance to protect your business
Personalised guidance to help you navigate the complexities of property sourcing

Don't embark on this journey alone. Let us help you lay the groundwork for a successful and sustainable property sourcing business.

Together, we can navigate the challenges, celebrate the victories, and build a thriving community of professional property sourcers.

Interested in joining NAPSA?

You can find out more of what NAPSA and our Community has to offer by visiting here.

We are offering a limited time 30% discount for your first year of Membership, bringing the total price down from £234 to just £163.80 for the entire year. Just use the code PROFESSIONAL24 during checkout: https://napsa.org.uk/join-us/

Thank you for your continued support and engagement. Here's to your success in property sourcing and beyond.

Best Wishes,