The real estate industry is experiencing rapid transformation as technology, urbanization, and sustainability are influencing the industry. With these transformations come evolving needs from different sectors of the industry.
Many companies, agencies, and brokerages are improving their human resource base to satisfy these needs, hence the recent recruiting trends in the industry. This article explores these trends to show how they reflect the evolving needs in the real estate industry.
The Impact of Technology
Adopting technology in the real estate industry impacts two key areas in recruitment: digital recruitment and employer branding. Companies now adopt digital strategies to reach and engage with a wider pool of potential candidates and streamline recruitment. They attract top talents through diverse social platforms and specialized real estate job boards.
Most companies now adopt artificial intelligence (AI) and machine learning (ML) platforms to automate screening and identify top talents for engagement. This helps them to reach and engage top talents faster. On the other hand, technology has also helped brokers understand the importance of employer brands in talent acquisition and retention in the industry.
Digitalization has made the real estate industry more competitive even for talent acquisition. Brokers now leverage these technologies to promote company culture, sustainability efforts, and innovation, making them more attractive to top industry talent and customers.
Skills and Qualifications
The real estate industry is becoming increasingly complex and sophisticated. Consequently, there is an increasing shortage of skilled labor, especially in technical roles and construction.
Real estate recruitments now focus on filling that skill gap by recruiting employees with diverse skill sets. Companies no longer need employees only to build, manage, and sell. Instead, they need people who can drive sustainability initiatives, handle PropTech, and navigate the current data-driven real estate landscape.
Most companies seek not only certified professionals but also those with technological skills who understand emerging technologies such as virtual reality, AI, and blockchain. As real estate investment becomes more sophisticated, firms seek more than traditional property managers and assets. Instead, they require finance professionals to handle real estate investment trusts (REITs), financial modeling, and asset management.
Government Policies and Incentives
Government regulations, policies, and incentives drive recruiting trends in the real estate industry. Sustainability policies encourage firms to seek innovative talents capable of handling regulatory requirements in developing and managing clients.
Similarly, development program incentives drive companies to seek national commercial real estate brokers capable of handling interstate and regional real estate markets.
The ever-changing government regulations require flexible and experienced professionals to navigate the real estate landscape, shaping the recruitment needs and criteria for real estate companies.
Endnote
The real estate industry is rapidly evolving, influenced by several factors, including technology and urbanization. Recognizing the importance of human resources in this industry, firms are enhancing their resource base to match current industry changes, encouraging new trends.
The focus on technological efficiency, diverse skill sets, and innovation shows that the industry now needs flexible professionals capable of great adaptability.
