The real estate market is in flux. Every day more data pours in to make us aware of this painful reality. New data from CBRE shows that almost 20% of U.S. office space (189 million square feet) was up for sublease in the first quarter of this year, and that half of that was vacant. As the CRE landscape continues to shift and fluctuate, more sublease space is expected to be added this year. We are also hearing of the pressures coming to large$ players like Blackstone and Brookfield Corporation. Blackstone, the largest owner of commercial real estate in the world, saw its profits from asset sales drop by 54% in the first quarter of this year, compared to the same quarter last year, while Brookfield defaulted on $784M in debt in February, and $161M in debt recently. It’s clear that executives are pausing capital expenditures to see what the fallout from all this might be.
At the same time companies face unprecedented challenges in finding top talent. While demand for office space has dropped drastically with many employees opting to work remotely, those companies who are trying to enforce a return to office policy, are struggling to find talent willing to do that. With so many competing constraints and uncertainties, many businesses are finding it increasingly difficult to keep up.
OUTSOURCED HIRING MODELS
To address this, one viable option for companies is to partner with TalentWoo Real Estate Staffing, an experienced recruiting firm that helps corporations navigate the complexities of uncertain markets. As per recent articles by the Wall Street Journal and Bloomberg, the current real estate market presents unique challenges to companies in need of talent. As stated by Bloomberg, many companies are delaying new hires until they can better assess the impact of the pandemic and the changing economic landscape. Consequently, companies may not have internal resources to seek out and attract top talent when they eventually decide to start hiring again.
TalentWoo Real Estate Staffing is ideally positioned to help businesses navigate these challenges. Our team of experienced recruiters provides a flexible, on-demand recruiting solution that can be tailored to your specific needs. Leveraging one or more of our contract recruiters to supplement your existing team or temporarily replace full-time regular employees allows you to fill key roles during sporadic hiring spurts or lulls. This option also allows your real estate company to have turn-key, trained resources on stand-by that you can manage as you see fit.
The TalentWoo recruiting process outsourcing (RPO) services, on the other hand, provide an entire experienced, turn-key recruiting team, including team manager, that can be dialed up or down as needed. It is self-managed, comes with its own tools, technologies, networks, and reporting.
One of the key advantages of working with TalentWoo is that our recruiters are trained specifically to hire in the real estate industry. We have a deep understanding of the skills and experience required to excel in this field and can help you identify the right talent to meet your needs. Additionally, our national network and software tools enable us to quickly and efficiently connect with top candidates across the country.
In an environment of uncertainty and fluctuation, partnering with TalentWoo Real Estate Staffing can offer the support you require to identify and attract top talent. With our flexible, on-demand recruiting services, businesses can save money and avoid the hassle of hiring and training new recruiters when the market picks up. With our assistance, businesses can identify the appropriate talent to meet their needs and succeed in a changing real estate market.