In the latest episode of the NAREIT Podcast, Susan Phillips, CEO of SelectLeaders, discussed trends in hiring in the real estate industry.
The Job Barometer, a joint research effort between Cornell University's Baker Program in Real Estate and the SelectLeaders Real Estate Job Network, has tracked job opportunities and career trends in commercial real estate since 2006. Job opportunities in real estate in 2014 as measured by the Job Barometer grew by 23 percent. That carried over into 2015, as January saw a year-over-year increase of roughly 11 percent from January 2014. Every sector measured is seeing an increase in hiring, according to Phillips.
“We have incredible opportunities out there,” Phillips said. “It’s a sellers’ market at this point.”
Phillips noted that the research revealed that number of job opportunities is higher than applications. As a result, employers are boosting compensation to fill the openings.
“What we are seeing is that people are being brought back into the industry, there are more opportunities out there and employers are responding with better overall compensation packages,” she said.
Regarding skill sets, software skills are in high demand in the real estate industry, according to Phillips.