Spring has sprung, and with it comes a mixed bag of market sentiments. While some sectors are experiencing a softening, others are thriving. Amidst this backdrop, the real estate industry finds itself grappling with a unique challenge — the relentless war for talent.
Qualified candidates, particularly in residential real estate, are being lured away by the allure of stability offered by competing industries like commercial real estate, legal firms, clinics and corporations. This trend isn’t confined to individual agents or teams but extends to entire brokerages.
The normalization of remote work: A lasting pandemic legacy
A lasting legacy of the COVID-19 pandemic has been the normalization of remote work. What began as a necessity for safety has evolved into a preferred mode of employment, especially in the real estate sector. The flexibility afforded by remote or hybrid work arrangements has become a key factor in attracting top talent.
Brokerages and teams that embrace this trend are finding themselves with a competitive edge, enjoying access to a pool of candidates that we’ve found, over the past five years, is about 40 per cent richer in quality compared to those insisting on traditional office-based setups. We repeatedly find that candidates who apply to positions offering remote work opportunities are more inclined to engage in discussions when they’re informed about the remote nature of the role and the flexibility it offers.
How real estate firms can stay competitive in today’s remote-work world
By embracing a holistic approach to employee satisfaction and well-being that includes the benefits of remote work, real estate firms can differentiate themselves as employers of choice in a competitive market. Here are some strategies to get there:
1. Implement flexible work policies and invest in technology infrastructure to support remote collaboration and communication. By embracing remote or hybrid work
The post Real estate industry faces talent war amidst market shifts and remote work boom: Here’s how to thrive within it first appeared on Insie Mesenza.